#20 How To Prevent Coronavirus Destroying Your Business

We are now doing business in an ever-changing world. Who could have predicted a worldwide pandemic hitting us in 2020? The Coronavirus outbreak has brought the economy to its knees and we believe the negative impact this will have on businesses is still yet to come. This is not the time to keep your fingers crossed and just hope for the best. It’s time to take ownership, accountability and responsibility of your business so the negative impact isn’t too hard hitting when the full force of it finally reaches you.

Listening to this podcast Craig will show you how to eliminate your fears, concerns and worries about what you can do to keep your business safeguarded and prospering during this difficult time.

Craig guides you through the 3 most fundamental areas in your business that are relevant to master right now. These are:

1. Cash & Finance
2. Products & Services
3. Marketing

He also speaks to you about looking after your mental health and wellbeing during testing times. Our members health and wellbeing are absolutely paramount to us. We are here for each and every one of you. We have taken a number of phone calls recently from members reaching out for help and support and we are proud that members feel they can talk to us. Please watch this video until the end.

Here is what you will learn from this podcast:

• Understand why just “adapting” to new situations is not enough.
• Discover the skills you need to master to become an effective leader, whether this be leading your family, your business or a community through this pandemic.
• Learn how to identify the threats and weaknesses your business faces.
• Gain inspiration on how you can search for new opportunities.
• Learn what an opportunity plan involves and why you need one.
• Find out how to and why you need to abolish decision fatigue and stop procrastinating.
• Understand what changes you need to make to become a better leader.
• Find inspiration on how to find the teachings in our current experiences.
• Identify what you need to do with your finances to survive and thrive in an economic crisis.
• Discover what short-term financial wins and action you should have already taken in your business to future proof it.
• Find out how to take advantage of HMRC tax breaks.
• Understand how to reduce unnecessary spending and overheads.
• Discover how to apply for government grants and funding.
• Find out the pros and cons of furloughing your staff.
• Find out how to transfer your credit card debts to a 0% interest free provider.
• Understand the importance of having a cash flow forecast for your business.
• Learn the importance of reading and understanding your profit and loss accounts.
• Find out how to understand what impact the current situation is having on your balance sheet (worth of your business).
• Find out why you need to know what your break-even point is in your business.
• Discover why you need 4 bank accounts.
• Find out which book Craig recommends to help you understand your financial fundamentals.
• Discover how you can protect your assets.
• Find out which app Craig uses and recommends you download for your cash flow forecasting and scenario planning.
• Discover how to identify if you are in the right vehicle to get you to your goal.
• Learn how to explore new business ventures and models.
• Find out how to create new products and services that you can sell to make more profit.
• Find out what exercises you can do right now to research and generate new ideas and inspiration for new opportunities and ventures.
• Learn from Craig’s personal business journey and the challenges he faced and overcame.
• Understand why you need to increase the quality and quantity of your online content.
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