As a Business Coach, I am a HUGE proponent of the concept “Learn More to Earn More”, and in fact I wrote an article on this topic in Nov 2019. What I have been seeing, both in my clients and in other business owners I talk to, is that they have been reading/listening more than ever in an attempt to learn as much as they can to accelerate their results as quickly as possible. Yet, many of them are frustrated because they are not seeing results.
Some people are naturals at connecting with other people. They easily find common interests, and genuinely enjoy meeting people. They are masters at working the room with a friendly smile and a firm handshake. They have built their business by creating trust, relationships, often friendships, with customers and suppliers. Then COVID-19 happened. “But I’m a people person. I need to talk to clients in person!” “I don’t like talking to a computer. It’s just not the same.” “I’m just not comfortable with technology.” We have all been in a virtual networking meeting where either everyone talks at once or no one speaks because they are being polite. It is a challenge. So what is the People Person to do?
There are a lot of small businesses who would like to post this sign. Fortunately, there are other ways to improve your sales, even in challenging times. For some, marketing during a pandemic doesn’t feel right. The reality is that we need a strong economy. Your goods and services are a part of that. We may be at home, but life and business has not stopped completely.
If you are not sure which one you are, keep reading. While our office spaces may look different these days, the need for true leadership has not changed. Hero leaders are listening to the concerns of their employees, even admitting their own struggles with quarantine issues.
We all know about the concept of A,B,C and D clients, right? Your A clients are 20% of the work, 80% of the profit. D clients are 80% of the work and cost us money. Well, I have discovered an even more important concept, one that can double or triple your profits even more than A clients.
It has been a turbulent few months, and your bank account likely reflects that. Now is the time to really look at your numbers so you can accurately manage your money.
The first step is to know and project your cash flow. If you do not have accounting software, use a simple spreadsheet to capture income and expense. Knowing the inflows and outflows of your cash is the first tool you will need.
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