The way we do business has forever changed. What can you do to navigate the next 6 months?
The current coronavirus pandemic has plunged the world into unprecedented times, with lockdowns and self-isolation becoming new features of our everyday lives. The way we do business has also been impacted, with many companies facing significant changes to their daily operations. Recent stats show that almost 90 per cent of Australian businesses will or have been adversely impacted by the pandemic in coming months, meaning it now more important than ever to act on your crisis management strategy. Whether you are a successful business facing their first unexpected challenge, have been struggling for some time or are experiencing an increase in demand, Successful Business Advisors are here to help you survive, sustain and succeed.
Here are a few tips to get you ahead:
Update your financial statements: you need to have the most up to date information on the state of your business finances. If you don’t that’s ok book in a session below and we and help you.
Estimate the financial impact: what has been the current impact on sales, team, supply chain, finances, capital investment and overheads?
Perform a financial health check with your accountant.
Re-strategise your budgets based on new assumptions
Manage your cashflow – we recommend doing a weekly cashflow forecast so you can act early,
Put in place a contingency plan, reality check and partner with brands to assist you with applying for government funding, grants and support.
If you need help on any of the points above, book in a FREE Covid Strategy Session below: https://www.successfulbusinesssolutions.com.au/survive-sustain-succeed/
Successful Business Advisors have decades of experience across both the business and finance sectors, we have found ourselves and our clients in similar situations previously and understand what it is like to operate a business during challenging circumstances. We can offer you tailored strategic advice and vision depending on your current situation. From there, we have a range of services that can help you invigorate your business depending on your needs – these include Crisis Financial Forecast, Full Financing plans and Strategic Restructuring plans. The team at Successful Business Advisors is here to help you navigate your business through times of crisis so it can survive, sustain and succeed. To assist, we are offering a free complimentary strategy session to business owners – just click the button below to register a date and time with our team!
BOOK YOUR FREE COVID-19 BUSINESS STRATEGY: