There is no doubt that COVID-19 will impact every individual in Australia and the rest of the world in some ways.  I sincerely wish you and your family the best during this time, and that the most you experience are inconveniences that will pass.

From a strategic perspective and also with business continuity in mind, consider putting in place a risk mitigation plan.  

I have had some experience in planning for things like this after working through the GFC in 2008 in Tokyo and then the post-Fukushima tsunami & nuclear disaster in 2011.  In both periods, many businesses failed.  Our business prevailed and emerged stronger because we had a coordinated plan and quick action.

One other point: never waste a crisis.  A crisis like this is an opportunity to make changes in the business so that when the crisis is over the business is in better shape for the next stage of growth.  Difficult changes and restructure are always more palatable in tough times.  

It seems the medical professionals I speak with recently are extremely concerned about the:

• virility of the COVID-19,

• lack of a vaccine,

• expected mortality rate (~3% ) and

• rate at which a serious infection will occur, which will require high-level hospital support (~6% ).

• This is a fast-moving situation.  For up to date status and recommended actions visit the Australian Government COVID-19 status page

The indicators seem to be that Sydney and Australia could be put in an "Italian" or "Wuhan" style lock down within the next 4 to 8 weeks.  If this happens, your workers may be forced to work remotely from their homes.

If this occurs some things to consider are:

• Who are the staff members who can work from home?

• Who are the staff members who cannot work from home?

• What is the expected business impact for such change?

• Is there enough cash to sustain an expected downturn?

• What are the mitigation steps we need to put in place?

• What are the internal and external communications pieces we need to prepare for staff and clients?

• Does everyone have an adequate laptop, phone and internet access so that work can continue remotely?

• What is the process or policy if members become sick?

• What is the remote conference capability for the business?

• What is the government support that can be accessed to soften financial impact?

• Are you working your plan closely with your accountant?

Allocate some time in the next few weeks to agree with your leaders and stakeholders on an adequate mitigation plan for your business.