Critical actions you can take now!

I’ve been sharing this info with my agency clients and helping them individually.

But for any others and for what it’s worth:

I just want to help. Message me if you want to chat.

A. Conserving cash is key.

B. Preserving client relationships will pay dividends in the longer term.

C. Helping and being responsible for your team is mandatory in these extraordinary and stressful times.

1. Prepare a crisis budget for the next 3-6 months (and maybe a view on 12)

1.1. What is your worst-case scenario for income less cost of sales - what are we doing to support our clients in their time of need?

1.2 What is our current fixed overhead (rent, heat, bits and bats etc.)?

1.3. What are any possible savings and what costs can we defer?

1.4. What is our staff cost - what can we do to reduce this whilst keeping people employed and earning - (This is critical - we will all have to share the pain of this and we owe it to our team to do this) - there are various ways to achieve this.

1.5. How much do the directors take out - what can they reduce their take to?

Inevitably, figures will turn red in the net profit line. It’s our job to minimise this and preserve the strength of the business.

I’ve got a spreadsheet ready for all of you to complete the figures.

2. Ongoing strategy 

2.1. Once we complete the above planning - share the basics of it with the team - People prefer clarity rather than uncertainty - keep as much human contact as you can.

2.2. Use this opportunity to improve your systems and processes - do all the stuff you’ve been putting off - keep busy, keep disciplined!!!

2.3. Get your team to complete online courses - use this time to up-skill. - Keep them busy.

2.4. Explore opportunities - brain-storm - what will the country / world need when we’re through this. - GET CREATIVE!!