Lets set your flight small business planning out of the Covid doldrums
Small Businesses in Australia have been doing it tough during Covid times this year.
It is easy to not look forward !
Don’t sit in a state of covid dispair.
Being in lockdown has impacted on business confidence, peoples happiness and most off livelihoods.
it will be Survival of the fittest in a flat economy. Small business owners will not only need to have do more than just the daily routine of running their business, as we start getting out of this. Small business planning will help you grow again.
Every small business operator should look closely at its road map for the next six months. Business fundamentals will be tested, and you as the business owner will now take on the role of the pilot of the Airbus 747 launching into tough and choppy skys.
Get ready for the flight of your life.
Are you fit ready and wanting to fly your business to regrow your business to what it was and beyond.
Do you have the right mindset and ready to lead the way? Cross-check the doors rev the engines are taxi on to the runway. Let’s get small business flying again.
Small business will lead us out of this, not government spin and rhetoric.
Flight plan logged in.
Often overlooked by business people, is a good business plan that will enable you to plan your flight with no deviations or stopovers. Many small business owners won’t have a plan. In normal circumstances, 40% of businesses don’t survive the first 12 months. Be proactive in tough times a plan is crucial. Plan and continue to plan is important
Your plan should encompass
- Revenue and customers
- Staff, productivity and welfare
- Beyond Covid
Good Cash Flow Management
Now more than ever is it crucial to understand where the money in your business flows.
If you haven’t already started watching your cash. Plan and devise a small business budget
Cash flow management will be critical over the next 12 months as the business start to come out of a challenging environment. Understand how your cash cycle works and where things could go wrong
Start learning and using social media. Learn how to market your business in social media, which has a generous return value if used right. Reach out to your customers. Put on a positive spin and get things going.
Setting Targets Early On
Like a good business plan, an achievable defined target is needed from the beginning. If their profit and revenue targets are set, a business flounders with the daily grind and don’t focus on growth.’
Set realistic targets and make them short achievable ones. Set yourself rewards for both your team. Once they have been reached them, celebrate the one-percenters and reward any primary goals achieved.
Have recommenced your financial repayments and worked out a plan. If you need help talk to your Bank manager.
They will work with their customers to figure out a solution to help you through the next six months.
Look at how restructuring a loan or, granting an additional further short deferral of your liabilities may assist reducing financial stress. If you are in financial difficulty, please reach out don’t try and ignore a growing problem.
What should I do first?
We recommend small business operators prepare a working action plan. Please keep it to 7 day, 30 day and 90-day targets. The hardest thing to do is to start. Reach out if we can help you on the way. Be safe and enjoy the flight