These are interesting times to say the least.
The consequences from the new rules for any Australian business are massive:
- The demand for your product or service will shift.
- The supply chains from China and other parts of the world will be either permanently broken or at least questionable.
- The behaviour of your customers need to readjust to a new normal – if there is a new normal?
How do you prepare your business?
How do you model the consequences?
How do you innovate yourself to come out on the other side – still breathing?
These all are tough scenarios and tough decisions. Each of them could easily have consequences that reaches into the millions of dollars.
If you haven’t done already, now is the time to mindfully explore your options.
Now is the time to model the financial impact of your decisions.
Now is the time to re-evaluate your business and re-create the winning formula.
For one of my clients I’m just creating a sophisticated scenario planner – all in Excel and all with German precision. 🙂
We are actually building a forecasting / budgeting model where we plan and estimate on GL-account level the development for the next sixty months. In each line this model allows you to simulate the future based one of six basic assumptions.
This is then consolidated on cost centre level and of course on financial year level and visualised in comprehensive dashboards.
With the huge uncertainty ahead in this current COVID 19 crisis – now might be the right time to sit down and think more strategically than ever before and also model more sophisticated than ever before.
Let’s do some scenario planning for your business for the time when the current crisis is over and your business can accelerate again.
Happy to support you with your specific needs. Therefore I am offering you a free 30 minute planning call where we can explore your specific requirements in terms of backcasting or scenario planning. Book your free call here.