If you have been following us over the last few weeks, you know that we are obsessed with being clear in this time of uncertainty. I am especially obsessed with this idea. I cannot stress enough how important it is to gain clarity around where your business is headed in the coming months.
For those of you who are uncertain right now, you are feeling unsure of what the future holds. Furthermore, we are being given variables that we can or cannot control, thus we are not 100% confident with what to do, where to go, or even what to think.
For those of you who are unclear, you are experiencing doubt or confusion, you don’t have a written plan of where you are going, you don’t have strategies in place, and you are likely lacking in a strong vision for the future.
Now, understand that being uncertain is normal and it is OK. There is a lot of uncertainty in the world right now and, frankly, there is not a whole lot that we can control. However, the one thing that you can control is the ability to be clear about the future of your business.
Your business must first survive before it can thrive. As business owners, we have written five year or 10-year plans outlining goals and objectives. These are great plans to have in place, however in order to live out that 10-year plan, it is vital that you have a plan in place right now to tackle the next six to nine months.
Here is what your 6-9 month plan should include:
Cash Flow Analysis. You need to put together a plan for tracking dollars in and dollars out. At Metrix, we have a 13-week plan tracking cash flow and projections, reviewing receivables and payables, and so much more. By understanding your cash flow, your business will be able to survive this market shift and you will be able to take advantage of the various opportunities that surface over the next couple of years.
Expense Management. I know this concept is being drilled into your head over and over again, and, yes, I am here to talk about it one more time because it is THAT important. You must have a system in place to effectively manage your expenses. At Metrix, we teach an A-B-C-D system to help outline which expenses are mandatory, necessary, useful, or optional.
The Health of your Database. Your leads must be collected systematically, must have set standards for collecting information, must be categorized, and must be accessible to your team. You should have one CRM that includes a built-out Active Sales Pipeline and a ‘hopper’, or as we call it at Metix, a Pond.
This is just the tip of the iceberg when it comes to being prepared for the future. Start thinking around these three categories and if you are feeling inadequately prepared in one category, reach out to my team and we will help you to gain clarity and feel prepared for the future.
I share more insight around this topic in a recent webinar that I hosted. Check it out here!