Planning for the next 90 days is vital for the local business owner. With the world changing so quickly it is important that you have a plan to allow you to stay focused, manage your time but also that gives you the flexibility to change with the world around you.
Cheltenham BID’s most recent business support call was based around Business Growth Specialist Billy Smith preparing our business owners with a great plan that takes the panicking out of the new day to day.
Billy, Managing Director of ActionCOACH Cheltenham, said: “It was a pleasure to get an opportunity to talk to so many local and committed business leaders.
“The financial recovery of the country will be fuelled by the success of the small business sector and we must do what we can to support it in these challenging times. Our team at ActionCOACH will continue to help in any way we can.”
Billy was the Managing Director of Endsleigh Financial for 24 years and has been helping businesses, large and small, to manage growth and brand development for more than 30 years. Billy offered free, expert guidance to our businesses, so they could understand and think about what changes they might need to make. .
The advice covered practical help and processes that will move businesses forward immediately and advice on what businesses should concentrate on now to help them recover, re-build and adapt ready for a phased lockdown lift. His formula on how to grow and look at the mastery of TIME, MONEY and DELIVERY of product as well as helping with a step towards creating the 90-day plan to hold our businesses through this time was presented alongside an invite to a free one hour 1 -2-1 coaching session. See slides.
Key takeaways – businesses need to be thinking about
1.Vision and mission
2.Products and services
3.multichannel marketing and selling – It is safer and costs less to test and trail products online than it does in-store. You can gain real time data and gain key information about your key online customers. TIP -Keep your three top selling products stocked up and market proven products to increase revenue. Need help to create your online audiences? Contact email@example.com
4.Collateral prep -Prepare video and image contact to push out through your online channels. Need help with video? Contact firstname.lastname@example.org
5.People plan – Clean customer data, communication strategy – a way to collect contact details and permission to contact your customers. Staff development plan.
6.Personal development – online courses for yourself , courses for your staff.
Business owners asked questions around the difficulties of feeling alone and stuck as they had furloughed all their staff and cannot financially bring them back to work on marketing plans or 6 month cash flows. Billy offered 1-2-1 sessions in response to the concerns as each business model is different and he would need to know all variables.
BOOK – Billy’s Free coaching sessions.
ActionCOACH which will help you think about:
What can I afford to put on hold?
What can I not afford to stop doing to make sure I am still a presence when this is over? What do I need to do to adapt?
What is my cashflow like for six months in the worst-case scenario?
What are my team doing?
How am I communicating with people in my business and suppliers to my business?
Who needs my service now more than they did before?
How do I come out of this stronger than I went in?
How can I create a 3/4 week business plan?