Planning During the Covid-19 Pandemic
It’s Like Before, Only Different
~ May 2020 ~
Welcome to the Merager Financial Solutions LLC newsletter. We're so happy you are here! Each newsletter provides a wealth of knowledge and inspires business growth.
If you’re a business leader, you have created success through all types of adversity and this current pandemic offers the same possibilities. Don’t despair. Use this as an opportunity to learn about yourself, your business, and the larger marketplace.
Remain Calm
1. Sophisticated investors know that the biggest wins are possible when the rest of the world is panicked and selling low before the market rebounds. Be a confident investor in your business.
2. Take advantage of the various government programs (Payroll Protection Program, Economic Injury Disaster Loan Emergency Advance, unemployment benefits for entrepreneurs, local low-interest loans, etc.) to keep revenue flowing into your business.
3. Remember that tax payments have been delayed to July 15, 2020, and many landlords are open to short-term rental terms that recognize these difficult times.
A thoughtful cash management strategy is critical as your company becomes
Remember That This Will End
1. Human nature will never change, including through the worst disasters such as the present one.
2. Hold on to the knowledge that this is only temporary, and that people will again need your product or services once this crisis ends.
3. Think back to the last disaster and how easy it was to believe that the world as we know it would end. It didn’t end then and it won’t this time around.
Maximize Your Business’s Value
1. This is the time to remain flexible and creative in what you offer, so be willing to change how you deliver your product or services.
2. Think about business alliances that would help now and during future times when things are more back to normal.
3. Be prepared for the world to be changed when this is over. Keep yourself updated on news and trade publications to determine how you can best position your company for the new normal.
Create Community Goodwill and Awareness
1. Create explainer videos that provide solid content that proves your expertise and keeps you top-of-mind for opportunities that will present themselves once business starts moving again.
2. Keep yourself busy and align your company with a good cause by volunteering with a local nonprofit.
3. Send out a newsletter to your clients with helpful tips and tricks.
If you need assistance with anything we’ve discussed here, let’s talk so you can reach your financial goals, growth, and revenue. Spend your time doing what you do best and make more money by having us solve your most pressing financial issues.
