Make no mistake, the current global COVID 19 pandemic is an urgent call to both health and cost management within the business community. To wait to see the outcomes within the next two months before making cost adjustments will give rise to a more exacerbated situation in your business.
All the indicators are there that some form of economic impacts will occur and probably continue for a period, hopefully a very short period. As a business owner, it is of utmost importance that you pull your team together NOW and re-look your costs framework, revenue projections, cashflows. Re-look them all and proactively set revised forecasts for the next 3 quarters. Reset the budget. Establish at lease 3 scenarios of possible outcomes and give some fluidity to effective controlled financial management in the months to come.
Note please as well that, financial control and management, when appreciated by organizational leaders as a mechanism by which governance of an organization is best defined and represented, is among the most powerful implements an organization can engage for the engendering of public confidence and advancing of its development. Start hauling in some cost.