Top Tips to keep things going!
CASH IS KING
Hold on to cash
Speak to landlords
Scrutinise every outgoing
Decide who gets paid and when "Prioritise"
Smooth Payments (30 days to 60 days)
Review personal finances
Scrutinise every cost
Banks are offering mortgage holidays
Phone Loan companies and reduce monthly fees
Speak to all staff individually - understand who they are understand their struggles
Better for all to suffer a little rather than a few suffer alot
Get permission from all to reduce hours
Change contracts - watch out for redundancies!
INCREASE / FIND NEW SALES
If you have no B2C capability use other channels like FB or Instagram
Collaborate with other business - fill the bag
If you access any loans remember that you will have to repay it sometime.
Your business will feel the impact from this for many months to come - do not think that this will be over and finished and everything back to normal in 3 months time.
Make sure you plan and think ahead for worst case scenario.
We are offering Free Zoom Calls on this subject. Please email us if you would like to join one and discuss further.