4 minute read
Cash flow and MARKETING
from The Crest 95
No matter the size, industry or current state of your business, if you are to survive lockdown and this pandemic, there are two parts of your business you need to manage and measure very closely – cash flow and marketing. Without comprehensive management of these critical areas of your business, you are going to face an upward battle in overcoming the current challenges.
Cash Flow
Here are our top four tips:
If you have not already done so, apply for all the relevant payment holidays and benefits available from government and other institutions. The businesses who have access to cash are the ones that are going to survive this pandemic. Ensure you have a running, updated cash flow forecast at all times. You need to have a strong handle on what your cash position looks like. We suggest at least two, if not three months’ forecast at all times. Communicate with your outstanding debtors. They are also going through a tough time, but constant communication is key to understanding how much and when they can pay you. Keep in touch with your creditors and keep them abreast of when and how you can pay them. If cash continues to flow through the
ADVICE FROM DARRYN LE GRANGE ON HOW TO GET YOUR BUSINESS THROUGH COVID-19
cycle, then the economic wheels can keep turning, albeit very slowly.
Marketing
Sales is the lifeblood of any business right now. Sales is a function of lead generation (marketing) and conversion (sales). You do not want to stop marketing at this point, and should endeavour to keep filling your pipeline. While everyone wants to preserve cash at this time, there are a number of marketing strategies that won’t cost you a cent to implement.
Here are our top five strategies:
Re-connect With Past Customers: Make a special effort to contact all your past customers, not just for the sake of a sale but to see how they are doing. You want to remain top of mind with them. Referrals: The best form of marketing! Ask your most valued customers if they can refer any of their
ABOVE: ActionCOACH Ignite team Chenal Brummer, Darryn Le Grange, Deborah Coskey and Natasha Swartz.
ZOOM COFFEE CHAT A no obligation coffee chat about your business, its challenges and opportunities via Zoom. Contact Darryn Le Grange on darrynlegrange@ actioncoach.com or 083 703 5235 to schedule your complimentary session.
customers, family, friends and associates to you. If you don’t ask, you don’t get. Remember to make a point of thanking them for any referrals. Email Marketing: This is a great way to market to thousands of people on your database. Don’t get into the trap of just selling, rather use the opportunity to educate and ensure a strong offer and call-to-action. Strategic Alliances: These are alliances with other businesses who have the same target audience as you, but do not compete with you. Invest time building these relationships and ensure it’s a mutually beneficial affiliation. Cold Calling: Ensure you do your research, select the correct targets and develop a winning script. This will ensure you reduce the fear that many people have around cold calling.
How Can Business Coaching Help You?
Business coaching is the process of assisting business owners to grow their businesses and profitability through the application of a number of tools, techniques and strategies. Coaches offer an outside, unbiased opinion and help you see the wood for the trees. Everyone needs someone in their corner, someone who will support, encourage and hold you accountable while providing sound advice and input.
Why ActionCOACH?
ActionCOACH has a proven recipe for growing businesses, a recipe that has been applied to tens of thousands of businesses across 86 countries over the last 27 years. Our business is built on referrals, testimonials and reputation.
FOR MORE INFO
www.actioncoachignite.co.za; W ActionCOACHIgnite
Recent Testimonials
“I am a raving fan of ActionCOACH Ignite. It has been an absolute pleasure and a profitable experience working with them. To rise to new heights in any endeavour, you invariably need a coach, and the ActionCOACH Ignite team deliver with discipline and delight.” – Terry Flack, Managing Trustee, Makaranga “ActionCOACH Ignite is an inspiring group of team players who will collectively add incredible value to your business from your very first session. They have given us structure, direction and the knowledge we need to take our business to the next level in a constructive and time efficient way. Our only regret is that we did not join them sooner.”
– Jason Hawley, Business Owner, Miramar Projects “I have been a client of ActionCOACH Ignite for the last three years. I can confirm that they are undoubtedly the most professional, resourceful and influential team of coaches I have ever used during the course of my career. My business started growing in leaps and bounds from the time Darryn started coaching me, and reached its all-time peak just one year after starting with his sessions. Not only is Darryn the consummate entrepreneur, but he is also a man filled with compassion and empathy. I can unquestionably recommend their services as a business coach.”
