Missed our last webinar? View: Making Business Decisions as you Navigate the Downturn with Kim Grotto, Lauren Barron, Kim and Art Angel. They are ID members and small business owners discussing topics ranging from marketing to financial planning. Check out the videos below!
Don’t Miss Our Next Webinar!
Create a structure upon which to understand and make fundamental business decisions in a time of re-evaluation. Learn how to create a stable business foundation by utilizing a combination of strategy, financial best practices, customer personas, pricing, key data collection, and marketing strategy. Run time: Approximately 60 minutes.
Part 1: Cash is King
- “Cash talks and everything else mumbles”
- Businesses should utilize a 13-week cash flow forecast. This high-level tool can give a cumulative figure of your cash flow or cash burn. In simpler terms, it is reconsolidating your checkbook for your business.
- Consider your customer demand. If there is a continued need for your product or service but people are not able to access the way they normally would think about other ways you can provide.
- “The opportunities are there it is all about how you take advantage of them”.
- Marketing is far more strategic and methodical than many come to believe. Articulate and communicate their brand, mission, values and products in order to expand their reach, earn revenue, increase loyalty and market share.
- Know your audience. Prioritize current customers and the needs you can fulfill for them. Stay connected to key partners and employees.
- Learn about the Four C’s: Cohesiveness, Connection, Communications, and Create and how to apply them to your business.
Part 3: Hunting for Data!
- Hunt for data and learn to interpret it. Look for information that you can apply to your business model. It is time to assess the ways in which to drive your business forward. Don’t make assumptions based on past behaviors.
- The “come to us” mentality for retailers and services is a thing of the past. Your business needs to tune into the “we are there for you” mindset.
Part 4: Communicating Values through Emails
- Q: What is the relevance of newsletters and today’s COVID-19 saturated emails? How many emails are too many?
- A: If the information is relevant and serves value, say it! Take a look and analyze your audience’s pain points, how they are feeling or the message they need to hear?
Resend your emails about three days later. Not only that, but you should really put thought into your subject and preview line as well. Grab the readers’ attention and give them a reason to stop and engage.
Consider your call to action. What response are you looking to get? Drive your content around that goal and then you will know if the email was successful.
Innovation DuPage can help transform your idea into a viable commercial venture. Connect with us on Instagram, LinkedIn, Twitter, Facebook or call 630-942-3340 to explore your next steps. If you are interested in connecting with entrepreneurs like you, check out our public events.