Good Business Fundamentals in any Economy
Over the last three months at Note, we have been engaged in virtual meetings with clients, working on ways to sustain their businesses in these trying, pandemic times.
Although a crystal ball might seem like the most needed tool in our advisor’s arsenal right now, here are some “good business” fundamentals we regularly share with clients that are important in any economy.
- Hire the Best CPA, Attorney and Financial Advisor you can afford. Anything less can often become a big expense. Along the same lines, free advice often proves to be the most expensive.
- Accumulate cash for opportunities and challenges. Keep in mind that other’s challenges may become your business opportunity.
- Define the Core Values of your business and communicate them to all involved. Make sure to deliver customer service that clearly supports those values
- Examine how to WOW your customer in a way that Amazon-at-your-door cannot.
- Invest in the best employees you can attract.
- Empower your employees to make decisions. Give them a budget for fixing mistakes and providing the highest level of service in their customer interactions.
- Ask someone brutally honest and unfamiliar with your business or services to act as a customer and then grade their experience.
If you have questions or concerns about your business or need to discuss COVID-19 financial issues, we are here to help. Please contact Sarah Neuner at sarah@noteadvisor.com or (716) 256-1682 to make an appointment to meet in our office, via phone or virtually, online.