Without generating new business we’re virtually all in trouble. The vast majority of businesses need a constant flow of exciting new opportunities and a pipeline full of freshly generated leads. If you want to earn new business, you need to do the work.

However good your product or service is and however well devised your strategic capability, ultimately that is all relative as arguably, all organizations are in a competitive position relative to each other. Do not forget the importance of taking time to do your competitive analysis.

To understand the potential impact of an economic downturn on your business start by assessing how your customers will be impacted and how they might behave. Get a good grasp of the impact on customer requirements and demand, in time to make internal changes.

Your existing customer base, especially those who have shown loyalty and made repeat purchases are more likely to be interested in your newest products and services, and often represent the quickest, cheapest route to increase your brand revenue. Added to that loyal customers are louder and more frequent brand advocates and tend to buy more over time.

The numbers of retailers both familiar high street brands and local traders who were already struggling before Covid-19 arrived and have now shuttered for the final time is growing and the list of casualties is likely to increase further as we run up to the end of the year and into early 2021. You may not think you have experience in the digital world but many of the same considerations apply.