Hi folks, another special edition of Ask JP. I have had great conversations with CEOs over the last couple of weeks, probably more than I’ve had in the last several months. It’s been very interesting and gratifying to be able to connect with folks. During those conversations, they asked me, “How are you responding with your company?” I’ve got tell you, we went through a very diligent process about 10 days ago and I’m going to share the steps with you.
First, I was very realistic about what the situation was. I assessed where we were with our business in terms of contracts, proposals, and existing agreements. I was very realistic about what might happen in those areas as best I could. Then, I started to develop a plan. The plan started with strengths and weaknesses based on the assessment. Where are we strong? Where are we weak? Based on that I also developed a plan of where the opportunities are. To be honest with you, I think we may have, for The Moery Company, less competition than we had before. I think that business associations are going to need people raising money and developing business for them as soon as we come out of this deal. If we can survive that, if we can get out of this, we know that there’s going to be a need for what we do more than ever. That was one of the opportunities. The goal is to keep this thing going while we get to the to the end of the tunnel.
And then, finally, I put together a plan for three different scenarios. The first was adjustments that need to be made immediately. and in the current situation. To be honest with you, I learned some things there that we probably should have been doing anyway. Some things that we could tweak. The second was more of a crisis situation, adjustments that have to be made because we’re starting to get into some muscle here, we’re have to be able to cut and reassess some of our business operations and to be very diligent about that. The third was a total economic meltdown. What do we do to just keep moving forward? Because that’s my intent. We got to go through this battle to win the war, but it’s going to be a battle. I worked on a plan for those three scenarios several weeks ago without a lot of emotion. I think that’s the key. Then you have a plan so when those things happen you can implement it.
We’ve already got the plans, we’re ready to implement it. Now, the thing is, those things may be compressed. I thought it might be months to get to certain scenarios, it may be a shorter timeframe.
I hope that’s helpful for you and I’m pulling for you hundred percent. Thanks for watching.