Who are the business winners and losers in the aftermath of the last 15 months? Focus, perseverance, and the ability to compartmentalize have been key components to successful business leaders. Given the 2020 environment of uncertainty, every business decision was like stepping over a rotted-out rope bridge. And it is not yet over. Some businesses have done wonderfully in this environment. Landscapers, builders, home repair, pool companies, and the trades are in great demand. Most retail, restaurants, bars, and other small companies are still treading water.
We have been working with clients who have been doing well in spite of the many challenges; finding labor, sales without face to face meetings, and navigating funding, just to name a few. By continuing to create written strategic plans, executing step-by-step actions, and holding people accountable, they are succeeding in helping service customers’ expectations.
It’s time to get back to the fundamentals. The free money is over and now as always, cash is king and cash flow is the life blood of a thriving business. The PPP and EIDL loans saved a lot of businesses that were hurt by Covid 19. Hopefully debt has been reduced on balance sheets and revenue growth is on the horizon with the emerging economy.
If you are ready to start planning and growing, or have been, and are looking for a clear vision of a new direction, we can help. As a business owner your perspective comes from the several “hats” you wear: Investor, Owner, Manager, and Employee. There are strategies to address all of these perspectives. Lighthouse business coaching is focused on guiding and advising business owners to get their businesses to the next level by increasing profitability and control, as well as focusing on creating a fulfilling life and avoiding burn-out.
If you are interested, we would like to offer you a free hour of coaching to learn more about your business. Hope to hear from you soon.
Kevin Glynn, Business Coach and Consultant
Lighthouse Strategic Partners, LLC