We know that everyone is really starting to be worn down by all the Covid-19 emails and blogs popping up right now, we get it. Everyone is trying to pump the same information and it can get a little boring. Whilst we will continue to update you, we will also aim to ensure the information provided is relevant and will help and support you manage through this uncertain time. That said we also want to try and keep things as normal as possible and give you useful advise that you can use long after Mr Covid is beaten back.
So let’s push that C-Word to the side and have a look at these eight simple words also beginning with C to help clarify your vision.
1. Cash
It’s the oxygen for your business, do what you can to preserve cash for the unknown. Now is the perfect time to have a look at what your money is being spent on, work out whats essential and whats not! Look at in-house functions vs. outsourced. Optimising these to give you the most efficient way of working with your customers will be time well spent. We have recently made this change with our website management, using an outsourced function to get us up and running and then recruiting our own resource to manage it. Your decisions can always be reviewed further down the line if circumstances change.
2. Credit
You may need to arrange or re arrange your credit. With interest rates at an all-time low talk to your bank etc to see what your options are. Be sure to do your research and see what works for you and your business.
3. Colleagues
Teamwork is key to your business and you can help inspire your colleagues. Be supportive, honest and human. The more real you are the more likely you are to have an efficient team that will help in the growth of your business.
4. Customers/Clients
Connect with your customers/clients. Call them, email, why not write out cards if for no other reason than to see how they are. Many are feeling isolated and out of control at the moment so it’s a great time to check in. A familiar voice and fresh perspective can make a big difference for both you and your customers/clients.
5. Condense
Marketing and Business Plan goals are likely to be temporarily irrelevant. Hit the pause button. This is temporary, do not forget to remind yourself that. So for now why not condense your efforts to focus on this crisis and adapting to make the most of the opportunities that may present themselves.
6. Change
It is usually a choice, but right now it’s being forced upon us. Maximise your financial resilience by creating a new normal for your business. How can you change your business to serve existing and new customers? How can you make the necessary changes run efficiently? While it may not be easy, adaptability is a great skill to have.
7. Communication
Communication is key to your business, keeping people in the loop with what is going on helps in creating a community with your clients. Social media is a great way to engage your audience right now and to reach more people.
Whether your business is operating in some capacity or not at all; keep your customers and suppliers updated regularly. They'll appreciate it.
8. Compassion
Act with compassion, especially right now and we will all come out of this better off.
Compassion is something that can make a huge impact when looking at who you want to work with. Your acts of compassion do not just have to be work related, they can also apply to everyday life.
At the minute there are beautiful stories everywhere we look: from the florist donating his unsellable flowers to front line nurses, to the musician live streaming a free concert and of course there's Captain Tom Moore…
These gestures will not be forgotten.
If you need support to help your business emerge successfully from lockdown, please do not hesitate to get in touch.
support@totalaccountingkent.co.uk
