June – September are the quiet months for some industries and business-types. Normally, this is offset by the peak months of March-May when there is an ability to ‘save some nuts for winter’. But that opportunity was lost this year. So what should you do if you’re going into the next couple of months with no cash reserves and low forecasted sales?
The number one priority is to make sure you’re having regular conversations with someone such as a business advisor. Put your hand up early if it’s going to be too much, rather than trying to do it all by yourself and hoping for the best. It’s a regressive economy at the moment, you’ve got to reach out and engage with your advisors more than you would normally do so. It could be a 30min Zoom call once a week.
You went into business for a particular reason or skill set, you don’t necessarily have the skill set across every aspect of the business, so use your advisors.