Refresh your Bounce Back Trading Plan
David Charles
Helping ambitious business owners improve financial results, extract more remuneration, and increase the value of the business by combining ownership experience with research findings.
More time and more flexibility to repay Bounce Back Loans (see link in Comment).
Many businesses really need these concessions. I have heard an increasing number of local business owners stating that are extremely concerned about future viability of their business. Several have decided that they can’t see a way to keep trading and are preparing to wind down, or at least contract significantly.
This latest lockdown has hit certain sectors hard – not just those within hospitality and general retail. Perhaps it was “the final straw” after such a tough year. That trading crunch is in such stark contrast to other sectors which continue to boom because of the uneven way the restrictions have lifted some while sinking others.
For many businesses that are trading in the middle ground – affected but not flattened – this is the time for owners to take stock once again and refresh their “bounce back trading plan”.
I am sure we have seen many remarkable examples of adapting and thriving. These serve as inspiration and provide clues to include in your Bounce Back Trading Plan.
As always, cash, profit, and funding are the bedrock of every business initiative. If you need to help, simply get in touch for a chat.
Helping ambitious business owners improve financial results, extract more remuneration, and increase the value of the business by combining ownership experience with research findings.
4 年Andrew Goldberg, a very successful ActionCOACH, recently highlighted some excellent advice on resilience, which could help implement your Bounce Back Trading Plan. It's worth a read - click the link:- https://www.dhirubhai.net/posts/andrewgoldbergactioncoach_blog-time-to-bounce-back-actioncoach-activity-6770243400269623296-V9nO
Helping ambitious business owners improve financial results, extract more remuneration, and increase the value of the business by combining ownership experience with research findings.
4 年How many local businesses are doing OK, . . . or even doing really great? A surprising number are trading better than expected. Yes, they have completed heroic amounts of work, innovation, and risked everything. Those results are encouraging. I just hope more local businesses can be lifted by this positive tide. Good Luck, David Charles.
Helping ambitious business owners improve financial results, extract more remuneration, and increase the value of the business by combining ownership experience with research findings.
4 年What growth rate should you aim for in your Bounce Back Trading Plan? How about 38%? Perhaps that's a crazy number . . . . right now it probably is crazy, but that happens to be the lowest average annual growth rate achieved the FT1000 2020, which list Europe's fastest growing companies during 2015 -2018.
Owner of Titan Freight Recruitment Solutions. Specialists in recruitment for the Freight Forwarding Sector.
4 年Great article David. From our point of view we want to help clients to be successful by having a team that is operating together at a consistently high standard. Building and retaining a strong team is essential to having a successful business
Commercial Finance at TWO Business Finance Property - Tax - Business funding…
4 年David Charles great piece highlighting the importance of planning and forecasting. And even more so vital having a strong circle of advisors.