October 2019
Planning for Trouble: Preparing your Business for Difficult Times
It’s an uncertain time for businesses in the UK – Brexit looms with no clear deal in sight, is your business ready?
We don’t want to dictate politics but we do want you to be ready for uncertainty, so your business can thrive. Here are a few ways you can take to keep your business going in uncertain times.
The Rainy Day Fund
Keeping resources aside for a rainy day should be your top priority at all times – you never know what’s just around the corner. Particularly as the UK leaves the EU, you want to be sure your business is ready for the impact of potential price rises.
If you’ve not already been planning, though we hope you have, it’s time to start. Be rational with your funds and ensure you’re holding your clients to their due dates – keep the cash flowing so you can keep the business growing (or at least avoid it shrinking).
Make a Plan
It’s important to know what’s around the corner, so it’s time to do some research. Industries and suppliers you work with are likely to have to make some big changes at the end of the month due to Brexit. So you’ll need to find out what those changes are and act accordingly.
Make sure both you and your team are prepared for the future with a plan for all potential eventualities.
The Right Tools
It’s important to have the right tools for the job when it comes to navigating uncertainty, affordable tools for that matter. This is where a bespoke CRM solution will come in handy.
Rather than settling for off-the-shelf CRM solutions and a variety of apps to run your business, save money with an affordable bespoke solution that does everything you need. To top it off, a bespoke CRM solution can give you and your team insights in to how your business is faring in these difficult times. You’ll also be able to identify ways in which you can improve your business strategy with detailed reports, built in an instant.
The Right Team
What you want above all else in difficult times is your team on your side. So you need to support them in return.
Be honest and upfront with your team about your situation, and how you can resolve it together. Your team are likely to be worried about their livelihoods during difficult times, so it’s up to you to reassure them.
With a secure and informed team, together you can confidently ride through the storm and continue to thrive as a business.
Looking for the tool that will keep your business ahead of its competitors, even in the toughest times? Get in touch with Lunar CRM for a free demo of our bespoke CRM, and see for yourself how it could help you.