Q1 is done, now gear up for Q2

The first quarter of the 31 March 2021 financial year is done.  For many it will be a quarter they want to forget, although for others it has been surprisingly robust.  Whether your quarter ended in negative or positive territory now is the time to prepare for Q2.

Do you have:

  1. A risk register identifying risks and mitigating strategies?
  2. A detailed “10 hats” business recovery plan?
  3. A bottom up breakeven forecast?
  4. A sound understanding of your financial and tax position?

If you don’t have any/all of the above, then contact Q2 and get these vital business requirements in place.

Covid-19 has turned the world upside down. What worked in the past may not work in the future, and that includes “seat of the pants” thinking.

Much is uncertain, except perhaps the following…

  • NZ borders will remain closed this quarter, except for Kiwis returning home
  • Strict NZ quarantine restrictions will remain in place
  • Covid-19 will create multiple “second waves” worldwide
  • The general election in September will determine NZ’s economic direction
  • The outcome of the USA presidential election on 3 November 2020 is important to world peace and prosperity
  • Your business must remain your focus while the above plays out.

We live in worrying times.  While one individual’s thinking can change the world (especially if you are Gandhi, Trump, or Greta Thunberg), most of us should focus on where we have most influence and responsibility – our business, family, friends, and community.

As business owners we support the livelihoods of many.  Therefore, we have a moral obligation to prepare appropriately with detailed planning.

Contact Q2 if you would like to have a conversation about how to do this.

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