Crazy Times
If you’re like me, regular email/phone communications with customers/suppliers are definitely slower than regular times. I’m working from home and sharing the house -- and internet connection -- with my wife and two daughters. The increased family time has definitely been the silver lining during this time, but the uncertainty is certainly tough. When will all this end… that’s on everyone’s mind, and I don’t think anyone has the answer right now.
I follow https://www.instagram.com/davidgoggins/ and here is something he posted recently:
You may feel like everything is out of your control right now but stop for a second and think. What is in your control? Your mind, body and whatever belief system you may or may not have.
We have the choice right now to dedicate ourselves to being physically and mentally stronger during this time as we have no excuse to get after it or just sit back and let your mind run rampant with stupid thoughts. Learn to master the day that you are living. Don’t think anything beyond that.
Everything comes to an end. Everything! Make sure when this ends, you emerge victorious!!
It's definitely not the time to put sales and customer communications on hold. Even if sales are super slow, we still need to work ON the business. We can’t stop doing our job, and should not stop communicating with our customers. Sports radio is still talking about sports. Talk show hosts are still doing abbreviated segments, and comedians are still trying to make us laugh. You shouldn’t stop promoting your shop and your products.
Check out https://www.instagram.com/shopthespace/. She is staying connected and making sales by offering "virtual shopping appointments" and doing local home delivery. Let me know what you are doing that’s working!
I have watched a few webinars from the BDC and my accounting firm, and they were both quite intriguing. They all seem to focus on some key thoughts:
Making sure you and your employees are safe.
Communicating with customers and suppliers.
Doing everything you can to make sure you safeguard your business. By safeguard, I mean your finances and operations.
While sales may be slow, and you have some free cycles, it is the right time to do a deep dive into all aspects of our businesses and examine what can be improved, purged, or enhanced. Not every business will make it through this transformation, but the ones that do, will be stronger, and smarter.
Here is a link to an interesting presentation from BDC. The first part is about the economic impact of the virus, but the second part is about taking care of your business:
As well, I was forwarded a great Cash Flow template from my accounting firm to use for monitoring your cash flow over this difficult time. Let me know if you are interested in getting it.
To conclude, I want to let you know again that I am available to help, or just to connect. I went through a pretty cataclysmic business event a few years ago, and it was pretty difficult for me to see the light at the end of the tunnel. But I eventually got through it -- not without some scars though -- and I’m stronger as a result.