Business plans for after the CV crisis
Discussion
I'm expecting to survive (as long as the virus itself doesn't kill me) as I've got work for the next meanwhile and I don't have to pay staff. I've been giving some thought to the situation when the worst of it is over. I'm in the home improvements sector selling direct to consumers. At the moment I'm looking at offering less expensive alternatives to my usual products.
Anybody else have any thoughts on the post-Corona scenario? I figure that most people if they have any money left will be hanging on to it as much as they can.
Anybody else have any thoughts on the post-Corona scenario? I figure that most people if they have any money left will be hanging on to it as much as they can.
Ive thought of cutting everything back to the bare bones and just trying to service the clients the best I can on my own again - I would be far less stressed and financially better off, but then the flip side of me thinks what was the point of all the hard work and energy just to go back to being on my own!!
Economics of the situation may make that decision for me
Economics of the situation may make that decision for me
I run a web dev agency. Like you we have a project for the next ~6 months that I think is unlikely to be cancelled and can see us through.
We've struggled with recruitment and finding good quality devs in the local area at sensible wages (which, in the SE have gone through the roof in the last 2-3 years).
Might sound quite cold, but I'm looking to have my business in a position by the end of the year to try and take on one or two people who may have found themselves out of work this year, at a reasonable cost.
We've struggled with recruitment and finding good quality devs in the local area at sensible wages (which, in the SE have gone through the roof in the last 2-3 years).
Might sound quite cold, but I'm looking to have my business in a position by the end of the year to try and take on one or two people who may have found themselves out of work this year, at a reasonable cost.
I’m hoping to survive it, one way or another.
My goals have now changed from “buy a mustang” to save a war chest of 12 months expenses both business and personally.
Hopefully if we keep pushing and working hard it’ll propel us as we’re an eCommerce company, we’re good at what we do, have a good offer. Just need more people to see it and trust us.
My guess is that more people will turn to online shopping in the future and hopefully they’ll consider buying from my small independent team!
My goals have now changed from “buy a mustang” to save a war chest of 12 months expenses both business and personally.
Hopefully if we keep pushing and working hard it’ll propel us as we’re an eCommerce company, we’re good at what we do, have a good offer. Just need more people to see it and trust us.
My guess is that more people will turn to online shopping in the future and hopefully they’ll consider buying from my small independent team!
We’re ramping up marketing now as we’re in e-commerce and we expect people stuck at home will buy more. Our marketing is offering free site audits and monthly payment plans rather than paid in full by launch.
We’re mainly in health food, proteins, fitness, fashion and cosmetics which in some cases are showing upturns already.
Keeping an eye on every last £ though.
We’re mainly in health food, proteins, fitness, fashion and cosmetics which in some cases are showing upturns already.
Keeping an eye on every last £ though.
DSLiverpool said:
chrispmartha said:
DSLiverpool said:
free site audits
It probably says more about me than I care to admit, but I read that as free adult sites!singlecoil said:
Ignoring the extraneous material in this thread, it would seem that not a lot of people have thought about the future when this clusterf
k is over.
Difficult to plan for a totally unknown future though.k is over.I suspect those that survive (in business terms) may even see an upturn in work as some of the competition will have gone, who knows?
Our business plan remains the same, but the implementation is changing. We are building supply chain resilience with alternate suppliers from across the globe.
The business plan remains the same as we have UK government organisations as our customers and the need for housing has not and will not change significantly.
In terms of customers, obviously face to face meetings are on hold at the moment, but we are making extensive use of Skype
The business plan remains the same as we have UK government organisations as our customers and the need for housing has not and will not change significantly.
In terms of customers, obviously face to face meetings are on hold at the moment, but we are making extensive use of Skype
Edited by blueg33 on Thursday 19th March 10:06
singlecoil said:
Ignoring the extraneous material in this thread, it would seem that not a lot of people have thought about the future when this clusterfk is over.
I am working on something now that will be done remotely from beginning to end - under normal circumstances it would have involved days of travel, glad handing and walking around with an ipad/notebook taking earnest notes and talking industry bk is over.ks.Hopefully people will accept this is entirely acceptable and normal.
I am sure many people will want to go back to what was normal before, but I am hoping it open a few eyes.
I've got something of around 700k that needs to go to Lloyds next week - once they accept it doesn't need a bloke walking round the city with a folder we might see some meaningful change in the insurance sector.
Although to be fair to everyone I also understand that a lot of people are fighting fires at the moment.
Being in the building game more than most it all depends on the wider economy, I guess the govm has little choice but to borrow even more for a stimulus package once we're through the worst of this.
Wonder what else they can do, might be a great time to legalise pot and take a tax windfall there (not to mention freeing up police resources)
Wonder what else they can do, might be a great time to legalise pot and take a tax windfall there (not to mention freeing up police resources)
singlecoil said:
I'm expecting to survive (as long as the virus itself doesn't kill me) as I've got work for the next meanwhile and I don't have to pay staff. I've been giving some thought to the situation when the worst of it is over. I'm in the home improvements sector selling direct to consumers. At the moment I'm looking at offering less expensive alternatives to my usual products.
Anybody else have any thoughts on the post-Corona scenario? I figure that most people if they have any money left will be hanging on to it as much as they can.
I’m not sure that households are going to be worse off. With paye income guaranteed at 80% and little opportunity for discretionary spending (on holidays, nights out etc) many households might have more cash to spend at the end of the crisis and a massive desire to enjoy/treat themselves. That depends of course on the length of the crisis and the government ability to support if it exceeds the expected timescale. Anybody else have any thoughts on the post-Corona scenario? I figure that most people if they have any money left will be hanging on to it as much as they can.
Maybe you need to look at more expensive products!
Greenie said:
singlecoil said:
I'm expecting to survive (as long as the virus itself doesn't kill me) as I've got work for the next meanwhile and I don't have to pay staff. I've been giving some thought to the situation when the worst of it is over. I'm in the home improvements sector selling direct to consumers. At the moment I'm looking at offering less expensive alternatives to my usual products.
Anybody else have any thoughts on the post-Corona scenario? I figure that most people if they have any money left will be hanging on to it as much as they can.
I’m not sure that households are going to be worse off. With paye income guaranteed at 80% and little opportunity for discretionary spending (on holidays, nights out etc) many households might have more cash to spend at the end of the crisis and a massive desire to enjoy/treat themselves. That depends of course on the length of the crisis and the government ability to support if it exceeds the expected timescale. Anybody else have any thoughts on the post-Corona scenario? I figure that most people if they have any money left will be hanging on to it as much as they can.
Maybe you need to look at more expensive products!
Whilst it's of little comfort to those guys who are going through the ringer with money at the moment, if they can hang on I'd agree that there will be a host of people looking to spend spend spend when it settles down. We may have to get used to a different way of life for a while but there's a lot of people out there who are now working around the clock, those that have seen their product in high demand and all public sector workers doing overtime. The money will come back, it's just a shame it'll be the businesses with the best chance of adjusting their model whilst all this is going on.
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