Time sensitive advice regardless of what and how you sell, and why sales enablement plays a key part in your business success.
Forrester Blog Post: ramlcpa.link/z9yn
The timing of the Forrester blog post is almost just as good as the message. While the events of 2020 impacted the entire world, winners and losers have emerged which happens almost always with any kind of major event. A significant issue with COVID is the list is heavily skewed to few (bigger and better capitalized businesses) winners, and far too many losers.
That's a bit of what drew my attention to this post as while we continue to deal with new waves of the pandemic, we're also entering a critical business phase with many businesses intently focused on the upcoming holiday shopping season and making the most of Q4 2020. However, if that is to the detriment of 2021, it could be disastrous.
All too often businesses (especially small businesses) expect Q4 to be the quarter that you make up for the rest of the year, but it often comes as a detriment to sales in the first part of the following year. Why, well everything else is secondary, and plans and strategies are often developed to late in the process with the new year just a couple weeks away or already here. Additionally, because the plans come together in a hasty manner, lessons learned, new insights, and data analysis are glossed over, thus causing more problems in the new year.
To this point, since the events of this year destroyed most business plans in early 2020, almost all businesses have been stuck in a cycle of reacting to each problem without solving them. While that's not going to change much for the rest of the year, to get any kind of control over the situation in 2021, the process needs to start now and include plenty of planning and analysis.
A few of the key areas Stephanie highlighted that can be adopted by almost any business are:
Personally, I believe these points can be applied to any business by adding or dropping a few words or terms.
One of my own that I will add and important to keep in mind:
#sales #strategy #pandemic #covid19 #salesenablement #businessplan #smallbusiness #business #budget
12 Crucial Actions to Protect Your Business
How to Move On After Losing a Big Client. The list below comes from Young Entrepreneur Council (YEC) and provides a good reference point in establishing an action plan.
1. Get a Guarantor for the Contracts
2. Ask for Payment Upfront
3. Get a Lawyer
4. Begin Negotiating ASAP
5. Ensure Constant Communication
6. Get a Realistic Projection
7. Offer a Reduced Payment
8. Auto-Charge Credit Cards
9. Restructure Your Payment Terms
10. Get Trade Credit Insurance
11. Move On and Find New Clients
12. Diversify Your Client Base
#business #businessowner #smallbusiness #clients #COVID-19 #Coronavirus #negotiations #riskmanagement #lossprevention #creditinsurance #tradecredit #insurance #negotiations #restructure #restructuring
REI's Decision to Not Occupy its New Campus is an example of value opportunities only available during a downturn
Additionally, I see more situations like this (big and small) on the horizon as some of the best opportunities of our lifetimes are going to be available at deep discounts! | https://ramlcpa.link/d2yh
REI's decision not occupy it's brand new work campus, and instead sell it is a great example of the type of value business and their advisors should be preparing for.
How The Shaw Festival used some well planned Risk Management and saved 500 performing arts jobs during the Pandemic
The stomach bug and understanding of communicable disease helped save the Shaw Festival during the Pandemic | https://ramlcpa.link/cmzz
How the Shaw Festival kept 500 people employed during COVID — by taking out #pandemic #insurance three years ago.
About three-and-a-half years ago, #CEO of the #ShawFestival in Niagara-on-the-Lake, decided to undertake some risk analysis alongside his #CFO. He looked at potential problem areas .... and came to a shrewd conclusion: .... The festival should take out an #insurancepolicy against the threat of a #pandemic.
The policy covered the interruption of planned performances by communicable disease. As a consequence of that remarkable #foresight, the Shaw Festival has been able to do the basically impossible ....... thanks to the coverage, Shaw’s are among the only #actors, #musicians, and #theatre workers in the #world who still have #jobs.
Jennings says, reflecting on this extraordinary stroke of luck. “It wasn’t actually genius. It wasn’t about this pandemic at all — it was about #communicable #disease.” ..... Shaw employs a rotating repertory ensemble; if one of his actors got the #flu, ten of them could, and that might stall a show. “We took it out for the whole season, thinking that if six actors got ill and we had to shut down for two weeks, we might lose two million bucks,”
#ramlcpa #riskmanagement #businessplanning
Maryland Coronavirus (#COVID19) Information for Business and
Travis Raml, CPA