The Coronavirus has created a lot of challenges, but there are also many important lessons we can take from it. Now’s the time to take stock of the past few months and review whether you’d like to make any changes to your business.
BUSINESS PURPOSE AND PRIORITIES
Have your business and personal priorities changed?
What changes can you make in your day-to-day life to maintain these priorities?
Have your core business values changed?
Are there new opportunities for your business? Do you want to narrow or extend your business purpose and services?
Have your relationships with your clients improved? Have you still been able to form relationships with new clients?
How will you interact with your clients in the future?
How will you maintain your personal connection with your clients?
Did you learn anything new from or about your clients during the Coronavirus?
Do you need to keep the same size of office?
Is remote working effective for your employees, clients and business?
How could you continue using some or all of the new processes and systems you introduced during lockdown?
Could you review business expenditure to identify whether you have any unnecessary business expenses you could reduce or get rid of?
FOCUS ON WELLBEING
What do your employees need from you and in their roles?
How will you maintain a focus on workplace wellbeing in the coming months and years?
Have you or your employees learnt any new skills you can apply to your business?
Could you offer your employees more autonomy or flexibility?
Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (Colonial First State) is the issuer of super, pension and investment products. This is based on the understanding of current regulatory requirements and laws as at June 2020. While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), to the maximum extent permitted by law, no person including Colonial First State or any member of the Commonwealth Bank Group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information. This information is for the adviser only and should not be handed on to any investor. This information should only be treated as educational and not taken as any form of advice including but not limited to financial, business, or marketing. Seek professional advice when necessary. It does not take into account any person’s individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making any recommendations to a client. Clients should read the PDS and FSG before making an investment decision and consider talking to a financial adviser. The PDS and FSG can be obtained from colonialfirststate.com.au or by calling 13 18 36.