What's Next For Your Business
26 May 2020
We hope that this message finds you and your families in good health and managing to navigate the personal and professional challenges that you face.
Throughout the period of restrictions, we have been in regular contact with you to pass on relevant information as soon as it comes to hand. We have been very gratified to hear that the information passed on has been extremely helpful and guided many clients through the new conditions we are confronting and by the fact that so many clients look on knp as their first responder for gaining clarity about how the restrictions impact their businesses and personal situations. In many cases however, clients have also just wanted to chat, to share experiences, and to find out how the knp partners and staff are doing. For those kind gestures in these stressful times we are exceedingly grateful.
These are certainly testing times for all of us. Whilst there is much uncertainty, we do know that this situation will end. Although, we just do not know when or what the "new normal" will look like. It may seem rather strange to start thinking about the future while we are still living very restricted lives, but those businesses that will emerge successfully from this unprecedented period are already doing this.
We have begun asking searching pertinent questions, and many of those questions will also be relevant to you as you begin to think about the future when the world slowly exits from this pandemic. Here are some of the questions we are now asking ourselves.
- What have we learned about our people, particularly how they perform under times of pressure and major change?
- What systems and processes are in place that are helping us get through this abnormal situation?
- What alternative areas should we be investing in to meet the challenges of the future?
- What should we retain from our previous ways of doing business? What should we discard? What do we miss most from pre-Corona days?
- What enforced changes do we want to retain?
- What opportunities will present themselves in the "new normal"?
- Are we nimble and agile enough to take advantage of opportunities that come our way? If not, what do we need to change in order to do so?
- What is the best structure for us as we move forward? We want to retain the best of what we have but simultaneously we want to take advantage of the opportunities likely to come our way.
- What methods have we adopted for now that should be discarded because of false beliefs?
As we begin to answer these and other questions, we are going to model each scenario to examine how it impacts our business performance. We do not want to make decisions based on blind faith or wishful thinking. Our modelling will help us make informed, data-driven decisions about our preferred future.
We encourage you to now start thinking about how the emerging environment will impact your business and, on what is required to rebuild investment portfolios that have been savaged by the fall in asset values. knp is here to assist you through this process. We are undertaking this modelling for our own business and we can help you do the same with yours.
It remains for us to extend to you the wish for your continued safety and good health, and we look forward to once more being able to meet face to face soon.
Norman, Mei, Andrew and everyone at knp