Before COVID-19 what did you have on your vision board for your business? What adjustments have you made or need to make for post-COVID-19?
Anyone who has delved into any type of self-improvement whether it be for personal or business, may have been tasked with creating a “Vision Board” for what they want to see happen in their future. As a business owner, maybe you didn’t physically create a vision board, but perhaps had a virtual Vision Board or at least an idea of one.
Fast forward to today and a you are now faced with creating a “Post COVID-19” vision board. How to reopen your business, how to pick up where you left off, how to maintain your current clients and solicit new ones. How to deal with the economic challenges that face not only us, but our clients as well.
Your vision board may now include a more flexible approach to the way your clients pay you.
- Offer payments plans with a down payment or offer incentives for payment in full at the time of the service.
- You might consider extending credit to existing customers as long as you both agree and sign off on the terms.
- Create clear, concise contracts outlining all costs including penalties for cancellations, late payment fees, cost of collection, etc. Your vision board might also include cleaning up your accounts receivable, contacting your customers who are behind on payments, offer flexible re-payment plans, taking a look at some of your older accounts receivable and try to collect on those accounts.
Just envision “cleaning up” and “cleaning out” your accounts receivable.Take the time you have now to update your vision board to be reflective of the unforeseen circumstances that have been thrust upon us.
Now is the time to revamp your “vision” make the changes to your business operations that you may have thought about, include them in your vision for the day (and it is almost here) that we are “back to business as usual” well maybe not as usual, but the new usual!