Given the uncertainties of the pandemic the status of member demand and operational capacity during the recovery phase may take some time to move to some stage of normality.
State Sporting Organisations will need to continuously monitor their financial performance considerably more so than prior to the pandemic.
Cash flow forecasts should continue to be produce at least weekly and there must be a continued focus on cost control and cash collections.
The recovery phase is a good time to look at alternative business models, revenue streams and expenditures and to focus on the core business of your State Sporting Organisations.
|
Operational Area |
Recovery Key Issues To Consider |
|
Finances |
Determine your financial position and health |
|
Cash flow |
Do you have the resources to meet your immediate cash flow commitments? |
|
Performance |
Evaluate the effectiveness of your business operations and make changes |
|
Members |
Evaluate how your membership and participation base has changed and consider how it may change further |
|
Suppliers (equipment, uniforms, food etc.) |
Assess your suppliers to reduce supply chain risk |
|
Strategy |
Explore options for the way your SSO operates and change its business model |
|
What do you want your SSO to be like after COVID-19? |
Develop recovery and continuity plans Update all strategic and operational budgets Build learnings for COVID-19 into your risk assessment for your SSO |
|
Funding |
Assess all grant and revenue sources |
|
People |
Re-evaluate your workforce (i.e. staff, volunteers) arrangements to match your new SSO business operational model |
|
Technology |
Identify your technology needs to meet your new plan and invest where necessary |
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Disclaimer
As with any resource, this does not replace obtaining independent legal, financial and risk advice on each question
The information provided in is for information only. The authors and the NSW Office of Sport accept no responsibility for the accuracy of the information or your reliance upon it.