This isn't just about whether you should lay off employees, or what expenses you can cut. This isn't about whether your force majeure clause is enforceable, and whether it can help you.
This is about whether your company has a vision, and whether you, as the owner, are going to abandon that vision. This is about your cash flow, marketing plan, employees, operations, contracts, and leadership.
Create A Plan
You need to have a plan for how this is going to affect your family, team members, clients, suppliers, and partners.
This virus has created a lot of problems. Our law firm is in the business of solving problems. A lot of times these appear to be legal problems. But in reality, they are personal, financial and professional problems.
Consult With A Professional
Over the past week we've had dozens of strategy sessions, group video calls, planning meetings, and masterminds with other business owners, law firms, and clients.
What we discovered was that these group calls and meetings are extremely productive, inspiring, and reassuring. It was encouraging to know that we are not alone as we navigate this crisis and learn how to find new opportunities. But one thing we also learned was that everyone needs to take a deeper dive into the problems specific to their businesses if they are going to move forward effectively.