COVID-19 M&A Update: Survival Mode
As of 4/6/2020
The fact is, no one knows when this public health crisis will be resolved or when commerce will return to normal.
The fact is, most businesses are struggling. They have scaled back or stopped operating. Leaders have taken quick decisive action to stem losses and preserve cash. They are taking advantage of government assistance. Luckier ones are less affected; some are thriving. Indeed, these are unprecedented times.
Affected company leaders are taking stock.
Business owners and management teams are taking care of their employees first, as they should, and reaching out (by email, phone and video conferencing) and staying close to customers and suppliers. They are remaining calm, intentionally limiting their media intake. They are monitoring KPI’s and dashboards more frequently than ever – hourly or daily instead of weekly or monthly. They are getting a handle on what business is going to be like until restrictions are lifted.
And they are looking ahead.
They are formulating strategies to strengthen their market position and thrive when we come out the other end of this. They are revising their quarterly and annual business plans and executing on those plans. Many are working on systems, marketing, policies and procedures, and picking up some of those “B” projects that fell by the wayside.
Exit Strategies Group is here for you. Please don’t hesitate to call us if we can help you navigate this crisis, or just to touch base.
All the best to you, your families and your companies,
The Team at Exit Strategies Group