Could Coronavirus help your SME business become more robust

Updated: Mar 24

Dare I mention the C word……Oh Corona!

Last week I was getting more and more upset about how the media were covering Coronavirus. With the 24hour coverage, it seemed to be stirring up the hysteria. I was particularly taken a back with how they seemed to be portraying people panic buying. My local doctor’s surgery was the scene of the first Cardiff case, but even then Aldi next door still had loads of loo roll left. If I am honest, I thought all the scaremongering was madness.


Then a business associate reminded me it could be serious for business. And that made me think.


I might not be significantly affected but the clients and businesses I serve might be. How do I protect my business from those effects, how do I help my clients?


I decided to think about the virus and what might happen if The Nicola Rylett Group had a case, or if one of my clients got a case. It raised lots of questions.


How would we work? Would revenue be affected? What was our backup plan if I couldn’t be in a meeting? Could we work remotely? How would we complete the client’s projects?


I decided that this serious issue was also an opportunity for me to make my business more robust.


What is your business continuation plan? Do you have a risk register? How are you mitigating the risks? Why not use this as an opportunity for you and your team to create/update your Risk Register. Develop/review the Business Continuity Plan. Putting these things in place has helped me remain calm and confident.


A positive outcome; this coronavirus might make your business and your team more robust & more efficient.


Oh, and remember wash your hands more folks!


Latest Gov.UK information can be found here.

https://www.gov.uk/guidance/coronavirus-covid-19-information-for-the-public


Resources

https://www.gov.uk/government/publications/business-continuity-planning

https://web.actuaries.ie/sites/default/files/erm-resources/tech_afb_trr.pdf


In this video, David Hillson, The Risk Doctor, explains how to structure your risk process by asking (and answering) six simple questions. https://www.youtube.com/watch?v=BLAEuVSAlVM


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07554 437051

nicola@thenicolarylettgroup.co.uk

Connies House, Rhymney River, Bridge Road, Cardiff, CF23 9AF

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