Everybody is trying to figure out what to do now.
Disclaimer: I am no expert. But I’ve seen 9/11 and I’ve seen 2008. This is in many ways worse.
My personal conclusions:
We won’t be back at the office before July. Settle in. And give your people breathing space for two or three weeks. This is not business as usual. Don’t pretend like it is.
Your existing customers will pull you through. Stay very close to them and double up on key account management and customer success. This will work better if you serve large enterprise “too big to fail” customers, will be harder in SME segments.
Define a single sustained initiative that demonstrates to your people and, equally importantly, to your customers that you have seen the signs of the times and that you are taking action. This can be internally focused (fix those processes and tools that you never had time for), for product-led companies this would be doubling down on a strategic roadmap component, for customer/partner-focused companies this would be a rich online classroom for training.
If you need to recalibrate your cash burn (and you probably do), then don’t hold back and act early. A death by a thousand cuts is the worst program to follow.