What are the first steps a business should do in a crisis?
0. Setup a war room. Make sure that your board and executives meet on regular basis. Communicate extensively. Then, focus on the following:
1. Be decisive.
2. Preserve cash.
3. Act with all stakeholders in mind.
4. Emerge on the right side of history.
5. Play to win the next season
6. Don't trade in the future, think long-term.