How do you safeguard your business in a global pandemic?
While the government is sorting our support packages for businesses and you figure out if you are eligible for grants, loans or benefits, what else can you do?
This is a list of 7 things you can do right now that will help you feel more in control:
- Check your cashflow. Figure out how long you could last without any additional income. Cancel all unnneccesary expenditure, especially automatic subscription renewals.
- Look at quick wins. What will bring in more income without spending anything.
- If revenue looks like a problem, check available sources fo help. Contact bank and lenders early.
- Don’t catastrophise. Work with what is, not what you imagine it to be. Most things we worry about never happen and if they do we generally cope OK. Nothing lasts forever.
- What can you do now that will put you in a strong position when things change? Could you pivot? Offer services on-line, widen your customer base, automate?
- Check with existing customers – are they cutting back, starting something new? Do they need to pivot, could you help?
- Ask for help. There are lots of people only too willing to share their expertise and experience.
That includes me. If you’re worried about anything, get in touch – I won’t try to sell you anything!
Photo credit: Bernie J Mitchell