Let’s face it: it feels like primetime to worry about your business, but at the end of the day, that won’t get you anywhere. It is the perfect time to focus on the areas of business that are easy to neglect when we are busy. Here are a few areas we have spent some extra time evaluating that we recommend you take a look at as well.
1. Clean up. Take your spring cleaning a step further! Desktop files can get unorganized really quickly and it can get out-of-hand before you know it. Do some electronic cleanup: delete old emails, and discontinue email subscriptions that spam/clutter your inbox.
2. Re-evaluate marketing. Put together a "new" marketing plan. Prepare your budget and cash flow forecast given the uncertain times. We suggest two scenarios: one that is a very conservative plan (plan for the worst), and one that is probably more realistic and not the worst-case scenario.
3. Forecast realistically. I think it's very important for owners not to plan that this will all end on one specific day. Entry back into normal life is going to take time-weeks, maybe months. Consider what the "new" normal might be. How does this affect your current business model?
4. Call others. Call the mentor you haven't spoken to in ages; ask them their feedback. Talk to people. Get their opinions on your business and your plans. They may have thought about something that had not crossed your mind. Don't take feedback personally.
5. Get virtual. If you're not already, get comfortable with video conferencing. Clients/potential clients are going to start getting used to seeing faces when they have calls. Learn how to use Google Hangouts or Zoom. This is an excellent time to test out different platforms to see which one is most compatible with your business and your clients. Most will offer free trials. This is a great time to take advantage and test them out. It’s also a good time to check the lighting in your workspace, and/or clean up your background. At L.A. Financial Management we specialize in supporting the financial health of your business, but we understand that there are a lot of layers involved. We’d love to help support you. Schedule a free consultation with us today!