These are times when we should keep our flock of talent together and motivated: Pramod Lunawat
We should not alienate our vendors, we should be supportive of them, be transparent and do not shortchange them writes Pramod Lunawat, Founder & CEO, Millennium Event and Marriageuna - Intoxicating Weddings.
There comes a time in the life of a business when the men get sorted from the boys! Business cycles are one such time but enforced recession for reasons beyond control, test you all the more. Novel coronavirus may soon have an antidote but its impact will be felt for long.
There are agencies in our vicinity here and across India, I am sure like us who are facing cancellations of corporate events. I say cancellation and not postponement because generally, budgets of what may be cancelled now in March, the last month of the financial year, may not truly be carried forward. These events, in all likelihood, will be merged with events in the next financial year.
And may I also place on record that there are postponements too, right till events that would be held in April and May.
On the social event front, preparing for the next big season has just come to a halt with recce trips being postponed, impending decisions just piling up. It may well be that couples may choose to get married sans the celebrations and revelry. In that case, the event planners will be rendered futile.
But all is not lost until we give up!
These are times when we need to gear up for the post-corona era when there really may be more opportunities and less time to plan and execute. These are times when we should keep our flock of talent together and motivated, time to improve systems, processes and documents. Just like after every tough and low business cycle, the chaff will be thrashed out and the seasoned, financially and mentally strong and credible agencies will stay on. One thing, we should never do during this period is to alienate our vendors! Be supportive of them, be transparent and do not shortchange them in the name of the virus.
Times will come soon when Corona will just be a beer and not a virus. Till then, take it on the chin.
Around The World