ActionCOACH franchisee Darryn Le Grange has shared five tips for struggling business owners to remember during the COVID-19 pandemic.
The award-winning coach, who operates a location of the business coaching franchise in South Africa, shared some sage advice that bosses across the world should take on board. He outlined how the right mindset is crucial to staying sane through this crisis.
“It is important to remember that this is nobody’s fault. Playing the blame game will not help you, it will only make you bitter and distract you from available opportunities. Stay in a positive frame of mind and focus on what you can control.”
Secondly, he reminded business owners to measure and manage their cash flow on a regular basis and to step in as early as they can to mitigate issues. He also explained how open communication is key during this time.
“Regular communication with all relevant stakeholders during this time is crucial. Let your customers, staff, suppliers and community know of any changes to your services or delivery and what steps you are taking to mitigate the risks in your workplace.”
Le Grange also emphasised the importance of marketing and selling throughout this time.
“Remember that marketing should be an investment and not an expense. There are numerous marketing strategies that cost little or no money. Identify the strategies that are bringing in the leads, implement a ‘test and measure’ system for all your marketing campaigns and always ensure that any new business acquired brings in more gross profit than the marketing cost spent.”
Finally, the experience coach urged business owners to treat everyone in their network kindly.
“Make sure you are checking in on your staff and customers regularly and show them that you genuinely care. Show compassion and always put people before profits - especially during this time.”
He concluded by instructing company owners to look at this as a time of personal and business development opportunity, despite the challenges it may bring.
Sophie Cole, Point Franchise ©