5 Tips for Managing Business Finances through a Pandemic

Nov 6, 2020 | Client Showcase Testimonials, Financial Advice

Today is a good day: I received a very complimentary client testimonial!

It came in the form of a recorded message. It warmed me right through to hear I’m helping business owners during what we can all agree is a tough time to be in business.

Normally I’m really bad at sharing client appreciation, as it always feels weird. While *I* am happy to listen to the message over and over (and over, and then with a mug of tea, over) again, it feels showy to lob it over to you with the subject line Look how great I am!

So instead, I’ve taken Jonathan’s main points and turned them into some hopefully useful, generalized, business advice for everyone. (Intending, of course, to make sure you know I’m accepting new clients meaning you too can enjoy the life-changing experience of working with me, the way Jonathan does.)

Much, much thanks to my client Jonathan, who works from the west coast of Canada, proving that we don’t have to be in the same neighborhood or even time zone to work together.

Jonathan Christian is Founder & Chief Imagination Officer at We Make Stuff Happen, leading a growing team of strategic thinkers who create digital marketing campaigns, develop websites and sales pages, manage email, social and content marketing, and provide invaluable training to businesses worldwide.

Anee-and-JC testimonial

Jonathan and I “hitting the books” pre-covid

In the body of Jonathan’s testimonial, he revealed some valuable Pandemic-Business-Lessons.

1. Don’t claw back everything

“Back in March 2020, when basically the whole world shut down, I did not know where business was going to go. I drastically cut costs. Cancelled many things that were nice-to-have but not needed, in my opinion. One of which was my services from Anne. I figured as a Profit Consultant, she would agree with me that I needed to save as much money as possible to protect my profits. So we had a chat. And almost immediately I realized… mistake. Big Mistake!! So, I kept Anne’s services and together we doubled down. We started to analyze all of my business. Anne and I looked at every single cost center that I have. And sure enough, there was a lot of stuff in there that I was able to cut back on, and rightly so. What’s nice-to-have is not always need-to-have. But as we analyzed, more and more, and as we focused on the areas of our business that were more profitable, you know what the unexpected outcome was during this pandemic? Even though my top line sales are down, my bottom line profit is WAY up.”

The lesson here is, don’t cancel out of panic. We’re all learning what we can live without, which is good. But think it through, be intentional, and keep your eye on the long game. Don’t throw the baby out with the bathwater, as they say. You may need that baby to do some data entry for you down the road.

2. Don’t hide from your numbers

“You know, I have a cash flow forecast now running through till next summer. I have worst case and best case scenarios, and even in the worst case, I am still in good shape. I never had that data before and thus, the confident knowledge that it brings. And I have to give full thanks to Anne for that.”

It’s 2020. There’s lots to keep you awake at night. Even if you’re nervous about what you might find, I can help you collect all the data you need to get a big picture view of your business, your profits, your cash flow, your future. No judgement, no scolding. Just service, clarity, and hope. So you can drift off to sleep dreaming of murder hornets, not how you’ll pay next month’s bills.

3. Your business deserves TLC, especially now!

“Anne’s sweet spot, I know, is businesses that have been around for a few years. You’ve got a few hundred-thousand-dollars of sales under your belt. You may have some employees. You know you’re not doing as well as you could be. That’s where Anne comes in. You owe it to yourself for all of the years that you’ve invested in your business, not to just let it go. She is a resource, she will go to bat for you, she will go to war for you if needed and she’ll find you the funding, the resources, the ideas and the strategies that you need — not just to survive this pandemic — but truthfully to survive AND thrive.”

Well, I don’t know about going to war for you. I’d have to make sure I have a comfy pair of combat boots packed.

4. You are not alone.

Being a business owner can be really lonely. And now? Pandemic? Puhleease — really, really lonely. If we thought we had reservations about talking about money before? There are no side conversations at conferences happening. No bumping into that person you always trusted for good advice. Few free hours to “jump on a call” so we can “hash out some ideas.” The time I spend with clients talking, analyzing, brainstorming, inventing and action-planning is both therapeutic and bottom-line, ROI-style rewarding.

“That’s the value of working with Anne. She’s a resource to my business that I’ve never had before. And I realize, here we are seven months into this pandemic — as a business owner and as an entrepreneur, you just can’t go through this alone. I know Anne is in high demand and she is helping people. And boy do we need it.”

5. You have what it takes to get through this.

We may not feel like we’re rocking this catastrophe as our best selves, but we keep waking up and getting on with things regardless. And we’re getting wiser, more discerning and more resilient each day.

“As we come out of this season, (and who knows when that’s going to be) you’re going to come out leaner… but stronger and healthier and happier, finding more balance, having less stress. Hey, who doesn’t want that?! So my friends, take it from one business owner to another: if Anne offers help, grab it!”

Nice segue, Jonathan, because I AM offering help. Let’s talk, it’s on me. No obligation, no pressure.

If what Jonathan has said has resonated with you, and you’ve spent the last few months looking at your business and thinking #WTF then it’s time for us to talk!! You can tell me how business is, obviously in total confidence. And I’ll give you some ideas. I could even send you a copy of what we talk about. Here’s my calendar – find your time.

To your financial success!