It is time we talk about money.

Enough has been said about the virus, lockdown and changing economic situation. We are where we are. There are only two directions you can take from here.

You can stop all spending, furlough the team, sit tight, and hope for the best. Let the situation control you. You have seen others doing that, right?

The alternative approach is to make the most of the situation by reorganising, investing, and going out to new markets. Challenge the status quo if you are aiming high. Put yourself in the driver’s seat.

Leave your comfort zone

I don’t know about you, but I prefer the latter approach. Yes, you are likely to hit roadblocks, face tough decisions and keep restructuring. It’s time to be creative to stay ahead of the game.

Before you raise the issue of limited funds, let me tell you something. Crisis or not, I have never heard of a financial controller approving spend without hesitation. Without the ROI, you can forget about your ambitious investment plans.

The ROI – how hard can it be?

The ROI (return on investment) scares people who have never done it. Truth to be told, it’s neither complicated or time-consuming.

A few years ago, I put together a simple excel template to calculate the ROI. Please see the dashboard below:

Fast forward to today, it still works (principles have not changed!) and saves a lot of time on business case preparation. Most of my students have used it to support their lean six sigma projects.

I have decided to make it available to all of you. Grab your copy and make the most of it. I hope it will encourage you to keep moving forward in those difficult times.

Good luck!