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How the best market and operate their business during and after covid 19 coronavirus pandemic

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For the founder / business looking for general to specific tips on marketing and operating during covid 19 coronavirus pandemic. Don't forget to purchase the full ebook + services.

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How the best market and operate their business during and after covid 19 coronavirus pandemic

  1. 1. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 1 - 8888 EMAIL: info@bjmannsyt.com / info@foundersunder40.com HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC VALUE: $ BILLIONS IN SAVINGS eBook +Service PRICE: $5000
  2. 2. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 2 - TEAM MESSAGE “Clearly we are all experiencing something that challenges every aspect of society and economy. Due to this new reality, we are expected to have more local, regional, national and global cries for help at a frightening scale . Therefore, we have a responsibility as a community to look out for each other and to give hope. Plus, even though we share this content to assist business operators. . .we also hope in this momentary storm we all re-evaluate how modern civilization works. ” - BJ MANNYST + Founders Under 40™ Group + GreatestFounders Team ***The point of this invaluable resource is to assist you and your business team in overcoming & thriving. The entire team and partners are grateful to the men and women around the world who are serving for the greater good. Thank You. GOD IS WITH US
  3. 3. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 3 - HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC The fact remains that some how every single person in their homes, neighborhoods, cities, nations and planet will eventually be able to fulfill most of their pre-coronavirus activity after all this, in God’s grace. However “It’s going to be brutal. There’s no way to sugarcoat it at all. And when we get to the other side, companies are going to be operating differently,” Mark Cuban All around the world every non-essential business is pretty much shut down. And there’s a high likelihood most will never reopen. Our values, behaviors, relationships, work, technology, security, transportation, and desires will change. For example, restaurants will have less tables and sittings due to need to provide more distancing which then means fewer staff and prices for somethings may go up. Judges, lawyers and clients in Toronto, Vancouver, San Franscico, New York, Chicago, Boston, London, etc. are now interacting remotely. “Because of coronavirus, the New York court system has dramatically altered how it does business, holding virtual arraignments, freezing many nonessential matters, and having lawyers and judges work from home. Lawyers in both civil and criminal courts have been left to advocate for their clients as best they can without in-person interaction, while criminal defendants worry about spending time in city jails with high infection rates.” It is a changing world for founders, marketers, entrepreneurs,employed or unemployed,government, etc. which means either we find a way or we all fail. ***The following tips will definitely assist your service / product business in using the situation to become a better person, better family, better business, and better world.! This content is being sponsored by BJ Mannyst, Founders Under 40™ Group, GreatestFounders™. YOU, I, & WE MUST FIND A WAY
  4. 4. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 4 - “Service industry workers strip down to raise money for furloughed workers. Dallas restaurant employees are getting support from many restaurants and organizations providing meals and groceries to those who need it. And then there are people who are also getting creative with how they’re raising money to relieve unemployed or furloughed service industry workers. ” “Delis around the world preparing hundreds of meals for service industry workers and for the less fortunate.” AT LEAST WE CAN FEED THE LESS FORTUNATE
  5. 5. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 5 - BECAUSE OF COVID 19 LOCKDOWN, I STARTED SLEEPING WITH MY BOSS FOR MONEY.
  6. 6. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 6 - Sector Examples of potential effects Tourism • Travel bans or restrictions • Cancellations of reservations and refund claims • Decrease of demand • Some cities and nations that are dependent on tourism will be impacted. Transport • Closing of state borders • Cancellations of reservations and refund claims • Decrease of sales • Airline companies forced to operate without passengers to keep allocated slots • Car sharing services are put on the be cautious. Commerce/ Retail • Lack of demand for luxury goods/ cars/ entertainment goods • Lots of closings • Liquidation & clearance sales. Industry / Manufacturi ng • Lack of raw materials due to restrictions in the transport area • Delays in the delivery of goods • Decreased demand for certain products Energy/ Resources/ Utilities • Lack of personnel required for exploitation • Decreased use of energy by large clients (factories) • Low demand in some areas means low low prices Financial Sector • Decrease of stock value • Devaluation of the national currency • Delays in payments of installments Table 1: Is just a list of potential effects that likely impact different sectors. If you are following the news, please ignore this.
  7. 7. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 7 - INSIGHTS FOR BUSINESSES WHO WANT TO THRIVE POST CORONAVIRUS Start Leveraging Talent, Manpower, and Equipment To Aid Others Are you leveraging your knowledge, team mates, or other resources to assist others or add value? If no, find a way to assist others. Demand May Need To Be Created Yeah sure normal predictable demand is not happening that’s no excuse to just wait for demand for your service and products. Create the demand if that’s what it takes. People & businesses still have needs especially if you are a pain killer. The Perception of Not Advertising / Promoting Sometimes the perception you put out when you stop advertising, stop producing content marketing material, stop socializing, stop engaging, etc. . . .is that you are no longer in business or facing challenges. So a tweet or inspiration or other marketing tactics can help keep your business top-of-mind. Re-Evaluate Demographics & Firmographics You may want to re-visit demographic and firmographics stats of your target markets both online and offline. There’s going to be major changes due to income, mobility, wealth, buying behavior, decision makers, lifestyle, etc. Also consider that when businesses and consumers have more than enough resources past just surviving they will spend and invest.
  8. 8. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 8 - Get Involve In Industrial 4.0 Keep informed or get involved in some way with the the technology and businesses that will benefit from this crisis. 5G, Satellite Internet, Virtual Meeting, 3D Immersive platforms, Education, Security, Food, etc. How Do You See The Moment & The Future  Sometimes you have to act as if there was nothing wrong with the economic or social factors and look at how you will fill needs.  Have you prepared your marketing strategy and tactics for the new normal?  Are you aware that people and businesses haven’t stop spending they are just shopping for better deals and better value?  Are you aware those who keep promoting, engaging, and listening to customers gain more loyalty? Look Into Using AR/VR The use of AR & VR will grow. “AR promises to allow companies to walk consumers through ideas—around a new product or place before they even exist—and realistically simulate actions and experiences.” The activities post-covid 19 will be different. From: going to work, meeting clients, meeting team members, talking to partners, pumping gas, picking up the kids, grocery shopping, gyms, restaurants, movies, concerts, conferences, hackathons, bars, schools, shopping, and home. So anticipate the permanent changes and fill a need with AR/VR. Anticipate Consumer Needs All the precaution and actions to contain the pandemic is likely to create more stress, anxiety, loneliness, boredom, so for your survival you must get into the detail of trends and fads ASAP. Media Consumption Has Changed With most people having extra time they are eating, and consuming more media content in different formats. So this is where creating lasting bond with targets becomes crucial.
  9. 9. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 9 - Keep Up and Leverage Technology Don’t use technology for technology sake.. Study the new and old technology and see how you can use it to improve performance. Frequent Cleaning of Touch Screens or Kill The Touch Screen As business operators, be prepared to rethink public touch screens as more customers see shared surfaces as an infection risk, no matter how often they’re cleaned. ATMs,iPads, Phones,Equipment, fast-food ordering terminals, displays in rental cars, airline kiosks and the like will get less use. Expect people to touch non-personal devices less so encourage your self-services and apps. Are Your Systems Allowing You To Adapt There’s nothing worst than having people, equipment, space, goods, and service that can’t adapt. It’s just impossible to survive any disaster / change. The new reality is putting in place the resources that can adapt and embrace change more frequent. Transform Into a Purpose-Led Brand You know what I dislike is when Brands never bothered to demonstrate they cared about their workers, suppliers, communities. . .suddenly start pushing message that they have non-monetary purpose. Either way that’s the path we all have to walk in the next few years. So founders find a purpose for existing other than dollars. Security On Steroids At Work & At Home Security post-covid 19 at home and at work is about to get a little more serious. First, more physical key-less entry. More infrared cameras, more real time physical tracking, more data gathering, more hacking precaution, more complexity, more health record monitoring, More data linking, More spying, more evaluation of sickness, more non-coronavirus related contact tracing, …etc. Bigger Big Brother powered by A.I. and quantum computing processing power.
  10. 10. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 10 - It Starts With Building Relationship & Empathy Beyond The Product No one wants friends or family members who just calls when they need something from you. So companies need to engage and assist people regardless if they buy today or never buy. In the current world of Coronavirus you need to support employees, customers, clients, strangers in getting through this. Be Present In the Digital World As marketers you are likely going to need to sharpen your data analytic and observation skills because this new normal doesn’t have a manual. The messages and tactics on Facebook, Instagram, Twitter, YouTube,and Pinterest will be different. No Talking Heads or Experts on TV Can Predict The Future However if you desire to overcome and thrive Post-Covid 19, then keep the following in mind:  Understand, anticipate, and go above and beyond to fulfill customer needs.  Leverage the right technology to stay ahead of the challenge.  Be agile with your marketing and advertising spend.  Activate purpose-led marketing messages and focus on helping customers.  Remember no one can accurately predict the future. The Bot Workers Are Coming Faster This crisis might be the catalyst for using more bots and less humans in the service and manufacturing sector. It’s inevitable that bots will replace a lot of repetitive jobs. As cost keep going up in terms of labour, etc companies are motivated to create or adopt devices that will take on tasks but need supervision and maintenance. There will be a major social and economic revolution unless good alternatives for making a living is clear. BOT WORKERS?
  11. 11. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 11 - Think Very Well About Direct Mail Marketing or D2D Canvassing For some businesses this method might actually work however the future reality is that some Postal Service mail boxes will be removed due to low traffic and the concern that the envelops / packages could be covered with Coronavirus. So basically keep in mind the fact there’s extra fear of touching things not disinfected. D2D might require masks. Help Your Sales Team Be Efficient & Effective It’s going to get competitive when it comes to acquiring the customers that are in good business health. The fact is there are areas / niches / sectors of business that are still growing during times like this. So find them and see how you can serve them. There May Be More Tracking The reality is companies and institution still think they need more and more data, even Google thinks it needs your address to give you search results. You may run a business but in some way you personally are a consumer as well. So prepare for a world of tracking devices, sensors on everything at home, public places, work, in cars, at school. Honesty, I recommend SMB marketers and founders to not use or work with others whose solutions are just too big brother because people will push back. China is doing it’s surveillance thing but with time people are going to push back so hard it will likely be hell. Expect More Negotiating As marketers & entrepreneurs expect others will negotiate harder and will be more willing to postpone purchases and buy less. Stronger Focus On Family In your marketing and operation don’t forget to focus on family values and things relating to home life. Businesses & Consumers Adopt Survival Gears I believe you will see an increase buying in survival related goods and services as leaders and consumers realize that their contingency plans must address the very unimaginable worst case hell-on-earth scenarios. FAMILY
  12. 12. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 12 - Your Marketing ROI Will Come If you can manage to market and advertise during times like this then you may see a great ROI when the recovery begins. The fact is people are getting expose to more content than before and more of them have the time to consume more so market and stay relevant. Plus, It gives the impression of financial stability. Reassures your clients and partners to stick to you. Create a Multipurpose Product If you are fortunate to have a product or service that has multiple use cases you will be fine. For example, a car company like Tesla can go from making Cars to making ventilators. And I’m sure if they were called to make components for military they could. So be agile from now on. Competition Will Increase The fact is competition will increase because there’s just fewer good customers or prospects to go around. So if you want to thrive for the rest of this pandemic, please make sure you have the right people on the bus. Not necessarily based on hard skills but great soft skills as well. Think Strategically There’s a whole lot of things happening however that’s no reason to not be able to see the forest fire from healthy trees. Your business and marketing strategy will need to step up faster. Entrepreneurial Culture Rules During Uncertainty “You better have leaders and managers that are willing to take calculated business related risks and are willing to see this moment in history as obtaining competitive advantage for your team.” says , Emmanuel “Manny” Omikunle of BJ Mannyst “God put us on this planet to grow spiritually, socially, economically, and achieve enlightenment so go forth and prosper” Marketing Conservatively or Aggressively This is really up to your organization and your target. I would recommend a healthy-relevant-persistent marketing. Don’t annoy or irritate people. Be a caring friend. Be whatever will represent your company well. Focus Like You’ve Never Focus Before The fact is there’s a whole lot of noise from every single person on this planet. The best thing is to focus your resources that will get you the greatest return but allocate resources for experimenting. Do Quality & Quantity That Works For Targets Sure you may be tempted to cut corners in your content production just to save money, I will tell you straight-up don’t cheapen anything that will impact you brand image or your brand message. If you’re a consumer of Louis Vuitton hand bags last thing you want to see is poor quality materials or less aspirational images. So find the means to meet or exceed the creative standard or don’t do it at all. Go and stress the value, the difference, the benefits, etc. BRING YOUR BEST MARKETING
  13. 13. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 13 - For Your Content Creatives You may want to consider humor, self-promotion, weird, sex, anger, pain, sensationalism, bold, loudness, product placement, influencers, fun, pleasure, fear and escapism to name a few. Always remember who the audience is and ask “will this resonate with them?” For example you’d not see a scene of two elderly couples having sex to sell a toy car to a eight year old. Figure Out Ways to Give Back You know what would be great. Every founder, entrepreneur or company takes the time to buy groceries for someone in need or give them a Grocery Store gift card. Buy first-responders coffee, a nurse lunch, etc. Give a poem. Give a song. Give humor. Give inspiration. Give a virtual hug. Just give and give some more with out jeopardizing your own well being. Promote Positiveness, Peace, Trust People are bombarded every minute with content and messages about this pandemic maybe spread a different energy. Show people you can be their source of hope and solutions. You want them to know your history of reliability, trustfulness, kindness, social responsibility, giving, caring, etc. Keep Fighting Traditions & Strategies From Last Recessions Nothing stays the same in life, change is constant. The tactics or traditions of last recession or last pandemic may / may not work. So check daily for updates, orders and recommendations from credible authorities.  If your haven’t already, organize a task force of people in key areas ready to act on objectives.  Plan ahead for very worst scenarios. Think like what if the internet went down what do we do? BUILD TRUST
  14. 14. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 14 - Immigration Related Aspects This one will involved more hands on deck for companies. Figure out how to assist employees facing immigration challenges.  Start thinking and identifying how the immigration risks could be raised.  Start considering how safe will the flights be and is it necessary travel  What are different countries doing. What are their policies? Contracts & Financial Responsibility This one requires some legal and financial expertise so seek help.  Have in place clauses that actually work to protect the business in case of exceptional events.  Prepare a negotiation plan for exceptional events.  Have in place the possibility to change the deadlines for fulfilling the contractual obligations or explore the possibility to invoke the suspension or termination of the contract before the deadline, or the possibilities of adjusting the price  Also for your own record you may want to highlight the events that impacted your operation in detail and steps you took.  Whether to adjust stock compensation.  Whether to re-evaluate debt strategy  Make sure to speak to your professional advisers like Lawyers, Accountants, HR, etc to make sure your contracts are well suited for this new normal. Be Market Aware In moments of chaos is when monopolizers could be abusing their power. So be aware of antitrust tactics such as:  Exchanges of sensitive information between competitors with regard to: prices, discounts, mark-ups, promotions, volumes, costs, demand, other commercial terms and conditions etc.  Price fixing among competitors.  Market and/or client sharing among competitors.  Exclusionary practices.  Abuse of dominant position.  Manufactured market disruption. STUDY THE MARKET
  15. 15. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 15 - MORE BIG PICTURE FYI.  Farmers.’Without a large group of workers willing to do very hard, manual labor for very low wages, America’s food supply would — at the very least — be much more expensive. Which means farmers are going into this planting season aware that they might not be able to access the necessary labor come harvest time.”  Airlines.“Airlines operate on very small margins, so they tend to be especially exposed to the shocks of any major crisis. However, even with that in mind, the sudden loss of almost all of their business for an indefinite period of time is the sort of hit that seems impossible to survive.To add insult to injury, airlines can’t even take advantage of the rock-bottom oil prices at the moment.”  Social. The mental health issues post-covid 19 will be high and lingering social anxieties will make normalcy very challenging but not impossible.  Media. Some media industry will be hit hard and might have to find alternative ways to generate revenue in a new normal.  Education. Hopefully everyone gets a better understanding of how economics works and how finance works. You may have affordable food, goods because somewhere out there is someone barely surviving to feed their kids.  Hospitality. The Airbnb of the world and the hotel industry have to remember what kinds of business they are in and to realize there will be more disasters at a frequent rate.  Malls & Theme Parks. The reality is any facility that depends on volume to survive is not going to see normal volumes. It may be less than 50%.  Driverless Cars. We may actually be getting closer to adoption due to this crisis. In the capitalism world, labour is seen as cost not a person’s livilihood. So every company is aggressively chasing automation.  Nursing Homes. I believe this is going to go through some major changes. I will not explore this other than tell you use your imagination.  Small Medium Business. It obviously will be tough for many to survive this. But I wonder whether people would just try to stay in a comfortable scale of operation or simply close down before they get a chance to begin accepting the public.  Oil. “Consider these statistics. In Saudi Arabia, oil revenues account for 60 percent of the country’s GDP, two-thirds of the government’s budget, and nearly three-quarters of its exports. In other states in the already-turbulent Middle East, including Iran, Iraq, Qatar, and Kuwait, the dependency is greater still.” So expect to see some people from oil nations face some additional tough times until prices goes up..  Jobs. “Overall, 43% of U.S. adults now say that they or someone in their household has lost a job or taken a cut in pay due to the coronavirus outbreak, up from 33% in the latter half of March, according to a poll from the Pew Research Center.” The truth every job seeker needs to know is that companies a motivated to cut cost and to try to do more with less.  Consumers. Every consumer wants to skip mortgage payments, loan payments, rent payment, anything that’s eating at their cashflow and savings. Many people weren’t in a position to even save enough. All the more the urgency to get the economy going again.  Future. What happens in June, July and August? It is a time many will have to adjust a whole lot of things so they an their family can survive.The warning out there is that that consumers should expect a gradual, not quick, rebound. MACROECONOMICS
  16. 16. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 16 - QUICK FINANCIAL SPECIFIC TIPS
  17. 17. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 17 - Financing and Liquidity In this environment, liquidity and cash flow are paramount. Your CFOs or accountant should identify financial constraints that could endanger viability and consider alternatives. 1. Determine the cash profile. Estimate weeks of cash and undrawn funding lines available to fund the business based on the current free cash flow profile. 2. Model cash flow. Review expected cash flow for the next three months in detail and identify potential mitigating actions that can be taken to preserve cash in the short and medium-term. 3. Shore up debt. Estimate your ability to fund short-term maturities or rollovers; pre-fund longer-term maturities, where possible. 4. Work with current financing partners. Assess your current financing sources and actively engage with existing financing partners to seek waivers where necessary; understand if available lines of credit will remain open and what changes, if any, may be coming. 5. Diversify financing sources. Continue to nurture other financing relationships, such as banks you have approached, but not done business with yet. In addition, explore alternative lenders and markets. 6. Assess the Coronavirus Aid, Relief, and Economic Security (CARES) Act or Other Relevant Relief Program. Consider the implications of government relief programs on your current and future liquidity position. 7. Manage inventory closely. Focus on the cash-to-cash conversion cycle; in these abnormal business circumstances, a coordinated focus on payables, receivables, and inventory can often be more important than focusing on profits and losses. 8. Consider additional cost-cutting. Revisit variable costs; reduce nonessential expenses. 9. Manage receivables. Reset the receivables cycle, collections process, and key performance indicators (KPIs); conversely, if necessary, consider taking a larger float by extending payment terms to suppliers. 10. Leverage tax planning. Consider tax planning to conserve cash in the nearer term, including repatriating cash from non-US jurisdictions, cash tax planning with respect to analyzing and filing refund claims, and accelerating deductions or deferring revenue. Assess CARES Act provisions for potential tax relief. ***The tips on this page were written by a difference author and we are merely sharing.
  18. 18. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 18 - QUICK SUPPLY & LOGISTICS SPECIFIC TIPS
  19. 19. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 19 - Supply Chain Resilience Management & CFOs should increase flexibility in light of many rising costs across the supply chain, from accessing raw materials to confronting significant fluctuations in demand. 1. Map supply chain shocks. Deploy advanced predictive risk and analytics tools to map n-tier supply chain links and assess the probability of additional shocks; consider the financial impact on third parties as part of the exercise. 2. Identify critical bottlenecks. Gain visibility into critical component supply at all tier levels, but particularly at the feeder Tier 2 level (note: some companies are having to evaluate their vendor’s vendor [fourth party] as well as fifth-party vendors). 3. Prepare for long-term supplier disruption. Create contingency plans for short-term, midterm, and long-term supplier disruption, particularly for suppliers of high importance (those critical to operations or the financial health of the company). 4. Create possible scenarios. Perform supply-chain-specific scenario planning and wargaming, including impact to margins; leverage available technology tools and predictive analytics for this process. 5. Address the possibility of shortages. Refine inventory strategy to address the potential risk of shortages; incorporate factors such as assessed supply base risk, cash flow, and perishability. 6. Locate backup suppliers. Investigate the use of alternative materials and sources of supply. 7. Explore alternative operations. Prepare for possible facility closures and the rerouting of operations; assess the possible use of mobile units. 8. Repurpose inventory. Review existing inventory, including old and obsolete inventory, and determine what can be repurposed; also examine A/B/C inventory segmentation. 9. Evaluate current contracts. Assess risk of noncompliance of current contracts (financial, legal, operational, etc.); force majeure is an issue in the current environment. 10. Consider future investments. Digital tools (e.g., cloud, cognitive, robotics) may enhance supply chain efficiency and resilience; assess what might work best in your organization and when it may be the appropriate time to invest. ***The tips on this page were written by a difference author and we are merely sharing.
  20. 20. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 20 - QUICK WORKFORCE SPECIFIC TIPS
  21. 21. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 21 - Finance Workforce Well-being Finance and other functions are often not used to working remotely. In this environment, however, there may not be a choice. Technology platforms can be used to create a virtual campus and maintain collaboration—and this crisis may also present an opportunity for you to reimagine your talent strategy. 1. Support virtualization. Prepare finance to effectively operate and manage work remotely (if not doing so already); roll out the necessary technology tools to help keep teams engaged and productive in a virtual environment. 2. Minimize worker exposure. If remote work is not possible in your business, implement practices to help keep workers safe, such as social distancing and wearing masks, that can allow on-site work to continue. 3. Track well-being. Consider how you will track well-being, while observing HIPAA and other privacy rules; create redundancies and backup plans should critical employees get sick. 4. Identify minimum staffing requirements. Assess what—and who—is needed to meet minimum requirements (i.e., closing the books, meeting regulatory deadlines, assessing capital requirements). 5. Secure critical IT funding and support. Understand potential technology limitations; ensure IT support (e.g., password access, ability to skip parts of the workflow) should the crisis impact the ability of employees to complete key tasks. 6. Train staff in new work processes. Leverage training courses that cover key operational aspects of virtual work, including business development, work management, customer management, team management, and HR policies. 7. Rethink authority for decision-making. Convene key operating groups and develop working norms for rapid decision-making, especially given potential financial implications. For example, how will each line of the business act if liquidity is a concern? What decision rights change under various circumstances? Should a competitor falter, who owns the decision-making in a potential M&A scenario? 8. Maintain open communication. Communicate with the finance team often, and provide accurate, authoritative information from reputable sources that address employees’ concerns and promotes their ability to function. 9. Lay the groundwork for a return to work. Prepare for the return of the workforce; convene teams to assess what is working in terms of workplace flexibility; develop plans to maintain desired behaviors. 10. Prepare for the Future of Work. Track the talent gaps (e.g., leaders who cannot handle rapid change; areas that require digital skills) that become evident in this environment; the team with HR to develop plans to mitigate those gaps in the future. ***The tips on this page were written by a difference author and we are merely sharing.
  22. 22. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 22 - QUICK INVESTOR RELATIONS SPECIFIC TIPS
  23. 23. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 23 - Investor Relations The financial impact of the current crisis naturally raises concerns among investors. But organizations can help mitigate the ambiguity that erodes value by demonstrating to the investment community that leaders have an adaptive strategy and a plan to execute on it. 1. Re-evaluate guidance. Companies will have to decide whether to update, withdraw, or reaffirm their existing guidance, and [Blanked]’s experience indicates that many that have changed have decided to withdraw. But if guidance is revised instead, there’s still a risk that an update may have to be changed or withdrawn at a future point. Companies should consult with legal counsel to explore whether guidance revisions or withdrawals increase legal risk. 2. Assess additional disclosures. Determine appropriate COVID-19 disclosures in current or future materials (e.g., proxy statement); assess if any additional actions trigger an SEC 8-K disclosure. 3. Communicate potential impact. While quantitative information may be unavailable, management can convey how the virus fallout is expected to affect sales, revenue, operating profit, and P&L. Some companies have already done so, expressing the potential COVID-19 impact in a range. 4. Undertake scenario planning. IR teams can undertake scenario planning to forecast potential impacts and associated consequences of areas of particular interest to investors, such as covenants. 5. Coordinate with the crisis and resiliency teams. CFOs can draw on the work of the crisis and resiliency teams to help build trust with investors. For example, management can demonstrate that its strategies to combat COVID-19 are fit for the purpose by linking gap assessment findings to current mitigation efforts. 6. Go virtual. Where possible, consider replacing in-person investor conferences with virtual presentations, webcasts, and conference calls. 7. Conduct competitive analysis. Monitor competitor disclosures related to COVID-19 to keep up-to-date with what others are disclosing. 8. Stay the course. Reiterating the company’s long-term strategy can reassure investors that the stated vision remains intact. At its heart, the message should reflect a steady hand and assurance that when the crisis abates, the company plans to return to executing on its investment thesis. 9. Review communications to rating agencies. In light of COVID-19’s potential impact, reconsider communications to ratings agencies. 10. Monitor activist activity. Assess activist investor responses to the lower stock price environment; evaluate your company’s vulnerability to activist investors. ***The tips on this page were written by a difference author and we are merely sharing.
  24. 24. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 24 - QUICK FINACIAL REPORTING SPECIFIC TIPS
  25. 25. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 25 - Financial Reporting Disclosures As the pandemic spreads, finance leaders need to balance uncertainty and transparency around certain key financial reporting considerations. 1. Assess future impact. Forward-looking cash-flow estimates should reflect the uncertainty associated with the pandemic’s trajectory, quantifying, where possible, its potential impact on areas such as human capital, supply chain, inventory levels, and production. 2. Evaluate economic risks. Similarly, risks associated with a sudden downturn should be absorbed into forward-looking estimates, even though they are dependent on unknown variables, such as the effectiveness of government assistance. 3. Conduct impairment testing. Finance leaders need to evaluate whether the impact of COVID-19 is significant enough to warrant establishing a new cost basis for long-lived assets, intangibles, and goodwill. If so, CFOs may need to conduct an interim impairment test. 4. Revalue investments. Any significant investments in equity securities and debt securities should be assessed in light of the pandemic’s impact. Entities will need to carefully consider and apply the appropriate impairment and loss recognition guidance. 5. Modify contracts. For many entities, changes in economic activity will require renegotiating the terms of existing contracts and arrangements, including agreements with customers, compensation arrangements, leases, and the terms of many financial assets and liabilities. As a result, companies will need to ensure that the appropriate GAAP guidance is considered. 6. Assess subsequent events disclosures. Evaluating whether the pandemic’s consequences represent subsequent events may be challenging in the current environment. All facts may not be known on the balance sheet date, but as soon as they are gathered, an assessment must be based on conditions as they existed on the balance sheet date. 7. Calculate ongoing viability. As a result of COVID-19 and its associated effects, companies need to consider whether they have the ability to continue as a going concern within one year after the date on which the interim or annual financial statements are issued (or available to be issued, when applicable). 8. Consider MD&A disclosure. In addition to offering historical comparisons in the management discussion and analysis section, companies should also focus on known trends or uncertainties that have had, or that the registrant reasonably expects will have, a material impact on their financial condition, results of operations, or liquidity. 9. Re-evaluate internal controls. Companies should consider—and disclose—how their internal controls over financial reporting may be affected by COVID-19. Absences or closures, for example, may prevent management from having the information it needs to effectively operate controls. 10. Monitor disclosure developments. Finance leaders should stay abreast of disclosure developments at the SEC, which has issued guidance around such issues as conducting annual meetings in light of COVID-19 concerns. ***The tips on this page were written by difference author and we are merely sharing
  26. 26. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 26 - WHAT COULD BE MAJOR OUTCOME POST-COVID 19  Hopefully the level of collaboration within and between countries will improve  The health care system will be funded and staffed better  The idea of universal access to free quality health care will be in discussions and / or implemented  The possibility of a second wave of the virus  The economic activity rebounds in late 2020.  Recovery will likely start slow but will pickup speed second quarter of 2021  Consumer confident will depend on the economic and social factors like having a safe-stable job.  Hopefully we see zero tolerance of organization or management without corporate social responsibility  There’s a possibility that people will accept new surveillance measure in the short term.  Hygiene will be taking very seriously.  More people carrying hand sanitizers CLOSING The fact is to survive and thrive in the next few years, it is critical for founders, SMB, professional service providers to build themselves and their organization to love adapting. Because the shocks we face socially and economically are going to be more intense and frequent because of speed of change. I and the BJ Mannyst + Founders Under 40™ Group via GreatestFounders™ team hope this is a great resource in times of difficulty. If you need further assistance with business strategies, marketing, content, b2b social media, reaching founders, b2b service marketing or idea development, content development. . .please reach out to us. CONTACT If you need further relevant knowledge or any relevant assistance, please contact jenn@bjmannyst.com / jenn@foundersunder40.com we contact ASAP. Thanks. OUR SMB SERVICE TARGET Accountant Tax advisory service Architect Engineer HR service providers Financial planner Investment management IT consultant Business lawyer Management consultant Training and development Construction services Construction management FinTech MarTech PropTech Financial services B2B Ecommerce Venture capitalist ADAPT & WIN
  27. 27. ALL RIGHTS RESERVED. EMMANUEL “MANNY” OMIKUNLE BLOG: MBLOG.BJMANNYST.COM SPONSOR: FOUNDERS UNDER 40™ GROUP + BJ MANNYST (BJMANNYST.COM) HOW THE BEST MARKET & OPERATE THEIR BUSINESS DURING & AFTER COVID 19 PANDEMIC. ALL RIGHTS RESERVED - 27 - HOPED YOU ENJOYED THIS GUIDE!! Copyright © 2020 Emmanuel “Manny” Omikunle & BJ Mannyst. All rights reserved.. BJ Mannyst™, its logo, and “Serve, Engage, Undo-Ordinary™” & Founders Under 40™ Group are trademarks of BJ Mannyst Inc. ***This material has been prepared for general informational only and is not intended to be relied upon as specific professional advice. Please refer to your advisers.The views of third parties set out in this publication are not necessarily the views of BJ Mannyst Inc For further assistance with your founder journey,and / or marketing contact Manny via www.bjmannyst.com or mblog.bjmannyst.com

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