The uncertainty of what the next few months bring can take its toll; however, putting yourself in the correct mindset and being proactive will provide certainty for yourself and your team. We have been through this for two years. Here's a reminder of a few things we can be doing for both your team and your customers.
Cash flow forecasting:
With Omicron knocking on our doorstep, the modelers show the wave should be over by early April, that's a tough eight weeks ahead, and we need to know how our cash looks. It's crucial to do this exercise to see how your business moves through this turbulent time. The old saying Cash is King is very true, especially in challenging times. Forecasting will give you an insight into how things look over the next 8-12 weeks. enabling you to see if you need to get some financial assistance, call your friends or if you will scrape through.
We know hospitality has massive ongoing overheads, but we have to look after our people. Doing a cash flow forecast will provide you with some form of certainty over the next few months, especially with the past turbulent two years. Knowing your numbers is one of the most important things.
Chat with your team:
This is an uncertain time for them too. It’s necessary to be taking the time to spend one-on-one time with your team, find out how they are feeling, what their concerns are, give them some advice on what to prepare for. Our team have expenses and need to be able to make ends meet.
The best employers show concern and care about their team. Having the ability to find ways to adapt, adjust and individualize things to help your team makes a massive difference in a team member's experience working with you and how much they love their job.
Be in front of your customers:
Make sure you are vocal on social media, newsletters, etc. People may have stopped going out as much as they used to. Still, it’s even more important to constantly communicate with your customers and always be at the forefront of their minds, so when the time comes that people do want to come out, they think of you. I also believe it's important to push on with everyday life and events.
We run a lot of wine tastings and beer tastings that don't cost us much, the reps do it for free and sometimes even supply the product. Again people need to see that things are still rolling, things are happening, and we are a place they will want to go when they feel like coming out.
We are focusing on three things now, I am more than happy to have a chat to see how I can help you get through these next few months. In one sense this is a perfect opportunity, we have a bit of extra time to dive into your business and work out how to make you more money, tighten the ship, engage the team more, and think positively about what's happening.
You’re probably thinking this is the worst time, I can't afford a coach. Let me get to know you and your business, and your investment in yourself will return to you tenfold.
