Upsizing or downsizing?
By Andrew Hague, Partner
Andrew Hague, Partner at WR Partners
The post-Covid economy has created a number of challenges for the average business. Are you upsizing, or downsizing to secure the long-term future of your company?
So what are the implications of scaling up, or scaling down your operations? And how do you refine your business so it's fit for purpose and ready to take on your new future plans?
I’d recommend looking carefully at your forecasting and your future decision-making.
Look at the ongoing needs of your business
Our experiences of the pandemic have demonstrated one very clear lesson – you never know exactly what lies around the corner. But the more prepared you are, the better you can respond, as and when new threats and opportunities do appear.
With this in mind, forecasting and scenario-planning can be exceptionally important tools.
Rather than crossing your fingers and hoping for the best, you can plan for two, three or more different outcomes – with different strategies and tactics for each separate scenario. You can’t bullet-proof your business, but you CAN make sure that you at least have a Plan B (or C).
Scaling up, or scaling down?
By making constructive use of forecasting, you’ll be able to see the most viable path for your business. From here, you can make a decision on whether scaling up, or scaling down, is the most appropriate action for the long-term health of the company.
Talk to us about scenario planning and decision-making
If you’re in the process of evolving or changing your business purpose, please come and chat to us. We can help you review your existing business plan, run scenarios and forecasts, and look at the long-term future path of your business.
