Communication and Cashflow

Small business priorities

The two key areas in business during this period are communication and liquidity.

In this short video, I share how my clients are managing their cashflow and communicating with their key stakeholders.

The Desai Despatch – Episode 6

Speaker – Jez Kay (JK)
Speaker – Falguni Desai (FD)

(JK) In the previous episode, we’ve been talking about the 90-day plan and how it chunked up into 30 days.

We mentioned 3 sections:

  1. Pivot,
  2. Shift
  3. and Adjustment.
Small business priorities: Today, what do you think is the most important thing to think about in your business?

Have you got examples of it?

(FD) Yes, the most important thing is liquidity in your business.

This means your cash flow, which is ever more important now in this crisis.

I insist with all my clients that they have a cash flow forecast in place as soon as I start working with them. It’s going to be at least three months ahead so that they can see what’s coming in and what’s going out.

I suggested to one of my clients, that they ring HMRC to defer their PAYE and National Insurance contributions because the government had given has given the VAT deferral. They have been able to agree on a payment plan which is helping their cash flow with 30 employees. That’s a big help.

(JK) Sounds extraordinary.

So what’s your overall advice for this whole concept of pivoting the business?

Where do you think the priorities actually lie if you’re in, let’s say, crisis, like a lot of businesses, has been? Where do you think the priorities actually lie apart from cash flow and what do businesses do about it?

(FD) In terms of other priorities, there is communication as well.

How are you communicating with your team, your customers, your wider network?

What are you doing in the business right now? What have you already done? And what are you going to do in the future in relation to the health of your employees because of this pandemic? And what are you doing in the business?

Does this resonate with you? If you would like to book a complimentary, no-obligation, coaching session to discuss this further, please email me at falgunidesai@actioncoach.com