19 Apr 2020, 16:30 — 3 min read
I remember the Dennis The Menace comics when I think of the lockdown. He was asked to sit on a chair facing the wall. No communication with anyone. An isolation of sorts. A time to reflect over his mistake.
The current scenario we are facing is similar, in that it is giving us time to reflect over our business. What is going right and what can be corrected?
A one month hiatus is going to make us actually think very hard about things we have taken for granted, for years. My guess is we are going to examine business relationships the hardest.
It is giving us the time to reflect on our business relationships. And most of all, it is pointedly asking us to look at our cashflows.
There are some relationships which look like one way streets – we don’t get anything in return during the hiatus, but we have to continue paying. This is the one that is going to be thoroughly scrutinised. Is this relationship worth keeping? Or should we be negotiating better terms.
The point I am making is that the value of each relationship is going to be measured with great care. A one month hiatus is going to make us actually think very hard about things we have taken for granted, for years. My guess is we are going to examine business relationships the hardest.
That is the Client perspective. If we are vendors or suppliers, we are probably going to examine our product/service and the client relationship. If there is the slightest doubt that comes to mind, let the alarm bells ring - it just indicates that our delivery is weak on some fronts and could be examined some day.
Do let me know what you think is going to the factor that will be examined the most.
Image source: shutterstock.com
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