Regardless of what industry you are in, the general advice I would say is:
- Prevent overbleeding, survive
- Slow down and systemize
- Predict when will covid be over, know what to do when covid is over
- Restart, take opportunity and grow
If you are in financial difficulties, do whatever you can to prevent out flowing of funds. If you need to pay lesser to your employees, do make plans of how to compensate them back when times are better.
Key is to survive.
This is the best time for all of us to slow down and think about our business and how efficient are our business systems.
A good free e-book reference: https://www.workthesystem.com/
Make an intelligent prediction on when you think Covid will be over, so you have an internalisation on the amount of time resources you have. How much time you have to learn, reoptimise and launch new initiatives.
Do not wait for government to announce and finally do something about it.
Move faster than other competitors.
When it is time for all of us to resume the norm, we should not be doing the same things as what we have done pre-covid period.
Roll out new systems, initiatives, promotions to restart your business with a positive bang.