Get Ready Right Now!
Today is Thursday, Monday, May 18, 2020. Our business world is challenged like never before and your business may be as well.
As a career business advisor and commercial banker, I see the concern in my clients’ eyes and voices. I have been here before throughout my career. I know that my clients will be okay because they are assessing their strategy, seeking guidance, and taking proactive steps now.
Now is the best time to get your company prepared for the recovery that will be happening shortly. Many of you may be needing credit for working capital, funds to grow your company or to purchase another business. The opportunities for growth are right in front of you! Now is the time to strategize not only the current impact but the future ahead.
There are five areas I have seen over the last few weeks that I’d like to emphasize to small business owners to help get through this period of adjustment and prepare for the amazing opportunities ahead in just a few short weeks.
1. COMMUNICATION - If you and your commercial banker/business advisor haven’t been having regular conversations, please reach out to them now to have that conversation. They have been having discussions with their teams and other clients about the pulse of things and should have a good handle on what’s going on and how to make the most of your opportunities. Make the call now!
2. STRATEGY – Even if you don’t have a clue of what to do, work with your commercial banker/business advisor to develop a strategy. It doesn’t have to be complicated, but it will give you and your team a plan to track toward even if it needs to be flexible daily.
3. FINANCIALS – Get your financials updated asap! You WILL need these very quickly so make this part of your immediate strategy even if your team is working remotely. Have everyone get their data in the system so you can produce accurate and clean financials. The timing of this is critical as your commercial banker/business advisor’s will be managing multiple client’s. Also, please work with your tax preparer now to get your taxes filed well before the extended deadline.
4. GUIDANCE – Your commercial banker/business advisor mission is to help you be successful through the challenges you are facing and the great opportunities ahead. They are bound by confidentiality so allow yourself to be fully transparent so they can give you their best guidance and use their experience to help you and your team.
5. ACCOUNTABILITY – We are in challenging days, but we can’t let up on our energy to lean and stay forward focused. Stay consistent with your vision and culture and hold yourself, your team and your advisors to their commitments and goals. The timing of getting things done for your business in this season is absolutely critical!
I am so thankful for the smalls businesses and their leaders that are the economic backbone of the United States of America! You are amazing and know that you, your family, and teams are being prayed over during this season.
If you are struggling with some of the areas mentioned above, I would be honored to visit with you to see how I can add value to you and your team and help you prepare for the growth in front of you. Please call or text me at (918) 970-0790 or better yet, let's be proactive and intentional and set a time that works for your schedule: Let's Meet!
Thank you for all you do for your community and economy! God Bless America!