In supporting print and visual communications businesses through the effects of COVID-19, Pozitive has released a webinar that provides industry guidance.
Pozitive managing director Phil Trumble said with many businesses concerned about the state of the industry’s future, a united front is necessary to combat the effects of the COVID-19 pandemic.
“It’s a global crisis that we’re facing at the moment. We are all in this together and as an industry – as suppliers, clients or competitors – we need to all band together. The industry needs everybody to get through this together,” he said.
“Most of our fears come from uncertainty and it’s been great that we’ve had lots of announcements from our government about stimulus and support for businesses, but that also raises a lot of questions; it certainly did for us and that caused me a lot of uncertainty and concerns.
“We know that a lot of you are feeling concerned, maybe even scared of what the future holds. So this webinar aims to provide you with a positive outlook for the months ahead.”
Chan & Naylor business coach and trained accountant Anil Puri, who also provided strategies addressed 10 strategies to use in the current climate.
The first group of strategies he addressed was around leadership and being open with communication. Puri said leaders need to set an example for their teams, customers and suppliers.
“Don’t be too concerned about what you can’t control, but look for the opportunities. Focus on what you can do and opportunities will present themselves,” he said.
“The sort of work that you traditionally do may not be available in the next few months, but there are other opportunities or other segments of the market that you can tap into.
“And don’t let people wonder about what’s going on. Communicate with your teams regularly and reassure them.”
Other points he mentioned within this group were being aware of trigger points.
The second part of his strategy was about protecting business profits. Puri advised businesses to review and cut costs where possible, negotiate staff cuts and other changes like reduced hours, focusing on return business, and continuing to market and sell.
“Use your database and contacts to create deals for existing customers. It’s easier to deal with existing customers than to look for new ones int his market. There are other services or products that you can offer them and increase your customer service,” he said.
The third set of strategies were around managing cashflow.
According to Puri, businesses should be looking at extending credit, tightening up credit processes and knowing a business’ numbers.
“I encourage everyone to understand their numbers – what parts of a business is profitable, which customers are profitable, what services are profitable, understanding what sort of return you’re getting on your marketing, conversion rates around sales, what your productivity is, and what your error rates are,” Puri said.
“The more you understand your numbers, the better and more confident your decisions will be.”
The webinar further details how businesses can:
- Utilise the stimulus and government support available
- Lead through the challenges
- Protect profits and manage cashflows
- Find opportunities to grow or replace revenue
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at [email protected]
Sign up to the Sprinter newsletter