In this Q&A, we talked to PJ Timmins – Managing Director at The Alternative Board.
# Tell us about The Alternative Board
TAB Equips forward thinking business owners around the world to grow their business, increase their bottom line and have better lives, through a unique combination of local advisory Boards, Strategic Coaching, Proprietary Tools and Services and an active International Community over 21 countries.
# What challenges are you helping your customers solve?
TAB is helping our members to solve the big challenges they are facing today. The RISE programme is a complimentary programme for Business owners throughout the world.
6 PREDICTIONS ON HOW THE WORLD OF BUSINESS WILL CHANGE IN 2020 AND BEYONDhttps://t.co/wFhDBJB6Lv #TabIreland#Tabboards#advisoryboards
— TheAlternative Board (@TAB_Ireland) July 6, 2020
# Tell us about your new programme?
The RISE Execution Series (RES) is a structured, 4-step virtual roundtable series to help participants survive current headwinds and to prepare to be even more successful once the crisis passes. The program combines our collective thinking about how business owners should work their way through the program with TAB’s sample board meeting process:
- Reassess: Take some time to revisit decisions that were made during the initial weeks of the crisis. Are your employees and customers safe? Do your employees know that you have their backs? Do you look at your cashflow daily? Have you reduced non-essential expenses? While many businesses have addressed these areas, taking a step back to assess whether they missed anything important or should revisit some of these areas is smart.
- Inspect: Next, take some time to do a careful evaluation of potential areas of weakness and strengths in your business. Is your supply chain healthy? Do you need to make changes? Do your customers know you are doing everything you can to support them? Do they know you care? Is the quality of your offering or the timeliness in jeopardy? What is the risk to existing contracts and future pipeline?
- Strategies: Once the basics are addressed and you have taken a hard look at supply chain, customers and revenue, business owners should start looking to the future. The crisis will end. Let’s think about what things might look like in six months. What will be back to normal? What will be completely different? What changes should we make now to respond to the future market? How will you prepare your business to be in as strong a position as possible in the future?
- Execute: There are many great ideas out there. The key to success is execution. What we learned from the Great Recession is those business owners who made bold business decisions and took action were far better off than those who did not. This last roundtable will focus on attendees taking action.
These roundtables include a readout on commitments from the last meeting, a presentation element and board topic discussion.
# How is the business responding to the COVID-19 challenge?
Businesses are using our COVID-19 back to work templates, both to comply with the Government guidelines but also to do so in a way that their Brand will differentiate and create positive emotional connections with the customers.
# What would be your advice to Irish businesses to help make it through the coming months?
Our advice is that the time for collective wisdom was never so important. What got you to here, will not get you to there as the future is rarely a polished up version of the past.
Their is no game plan for dealing with the pandemic in the medium term. There is a series of options we face, and it takes collective wisdom to figure out which are the major strategic options each business faces.