Here are some ideas to keep your small business moving during this current pandemic.
Manage Cash Flow
- Project out 3, 6, 9 months’ worth of billing and collections
- Project out 3, 6, 9 months’ worth of expenses
- Calculate any shortfall to determine funding needs
- If necessary, apply for needed loans
- Follow up with delinquent receivables
Take Steps to Recapture Your Market Share
- Keep in touch with everyone in your contact list on a regular basis
- Be a thought leader in your industry and send out regular, informative email blasts
- Hold virtual meetings with current customers
- Reach out to prospects
- Keep social media marketing going
- Brainstorm new ideas
Be a Leader
- “Meet” regularly with employees
- Stay positive
- Assign work to keep staff focused
- Find ways to motivate your staff
- Begin virtual meetings with pump-it-up music, ice-breaker questions, show-and-tell, etc.
- Hold weekly fun meetings where no business is discussed, such as a weekly virtual happy hour
- Lead an exercise session with your staff
- Remember to thank you staff and let them know they are appreciated
Sandra G Johnson, CPA, EA, CFE
