cash-in-a-crisis

Cash in a Crisis – A Quick, Considered and Creative Approach

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Cash in a Crisis - How this Residential Painter came up with a considered and creative solution

How do you get cash into your business while being thoughtful about the current environment?

Here’s a great story...

A residential house painter found his work drying up. So he took the down time to do some business ‘spring cleaning’

He looked back at the last 500 jobs his company had done with before & after photos. 

Then he reached out to those clients.

He was not making a sales call.

In fact, he was genuinely touching base, asking after their health and their family during these uncertain circumstances with COVID-19. He was also checking in to see if it was still ok to use the before and after photos on his website and other social platforms.

It seemed to be the ideal time to clean up his marketing assets.

Part of this ‘tidy up’ also saw him move all his contacts into a CRM to better manage the business & data. 

After a few weeks of fixing things up, getting his data in order & understanding his clients world, he proposed an offer to his database.

For anyone thinking of a painting job between now & the end of the year, if they were willing to prepay or pay a deposit - he would offer a 25% discount.

He used a pricing strategy to bring cash in quick, while being attentive to his audience who needed real cost savings. And it worked.

In this environment we need to be considered, creative and decisive. 

Perform a business triage, look for opportunities, AND clean up your business. 

This work will put you in good stead. 

And as we come out of this troubled time, your systems, website and marketing assets will be updated, and you will have a solid strategy in place to get back 'in the game'.

Need help steering your business through the current crisis?

Here are some resources that may help:

Tracking COVID-19 as a budget line item

5 Practical Measures for a Healthy COVID-19 Business Strategy

A Quick Reference Guide to the Australian support packages for COVID-19

Success stories in uncertain times

Create your COVID-19 Contingency Plan with this detailed planner


Simon Bedard

Simon Bedard

CEO and Founder, Exit Advisory Group

If you would prefer to reach our directly, I would love to start a conversation. Connect with me and send me a message on Linkedin, or get in touch any of the ways below. Old fashion phone calls are also welcomed!


www.exitadvisory.com.au

ask@exitadvisory.com.au

1300 133 540

Exit Planning | Maximising Company Value | Business Sales

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