Do you have a HR & Financial Strategy?
SWOT, Assess & Think Outside the Box!
Have you applied lateral thinking, considered your options, identified the very real challenges and discovered the potential opportunities?
- Be open with your team! Cultivate an attitude of transparency. Being up front about challenges will provide greater solutions by including your team in the process.
- Include your team in the problem solving. Your team offers a multitude of fresh perspectives on a baseline challenge – pool your brains trust. Consider overheads, efficiencies, rent relief, leave without pay, and more to create sustainability of the business and your key people.
- People are often our most expensive part of running a small business and are essential to keeping your doors open, consider to cut hours before reducing salaries.
- Hours of operation, start with reducing your overtime hours and closing your doors earlier.
- Cashflow is key... mind your cash but don't cut so much of your business expenses that you can no longer service your customers.
- Review your expenses. Renegotiate, pool resources, dilute overheads and sell non-core assets.
- Communicate with suppliers. Ensure goods can be supplied and manage your stock.
- Identify potential new revenue streams. What do people need today?
- Payment plans. If distressed talk with your suppliers, ATO and local Council for assistance or relief.
- Marketing Plans, does your product/s and or service meet the current (changed) market? Review your marketing plan to reflect current environment and the possible change in target market.
- Government Grants & Stimulus, what are your options? https://www.qld.gov.au/about/industry-recovery/business-and-industry-support
Value Your Customers
- Contact your best customers - tell them you appreciate their loyalty and ask them to come to you if they have any concerns and are looking to jump ship. Continue to excel with your service.
- Remind your customers why they chose you! What's your point of difference to your competitors?
- Show greater value for their purchase. Change your marketing message to highlight your amazing value.
We Want to Help!
2hr Strategy Session - Usually $495
Discounted to $295 ex GST