Interview :ASK THE EXPERT By George Theodosiou

Ask the expert...

George is a TEDx Speaker sharing his insights on how to build strong connections in life and business. Having experienced someone commit suicide because of money problems in business in July 2006, George has dedicated his life’s work to helping people use world class cashflow processes and systems to build consistency, predictability and profitability in their business. As well as clients around the world, George gets invited to speak at business conferences on his subject matter alongside some of the world’s most sought after speakers. In this interview, George will share what you should be doing right now in your Business during lockdown and how to come out of lockdown with the strongest possible version of your Business!

www.sophias-diary.com CAN YOU TELL US THE MOST COMMON PROBLEMS YOUR CLIENTS ARE COMING TO YOU WITH RIGHT NOW? The problems that people are coming to me with right now are cancelled jobs, worrying cashflow, losing clients, lack of enquiries... Can you summarise the best support resources in this climate (e.g. seeing a coach, go to website, loans, grants, etc) Absolutely look into what you are eligible for by way of: • Business rates grants • Coronavirus business interruption loans • Furlough scheme • Universal credits • Self-employment grafts • Bounce back loans In my opinion, every business owner should have an advisor, consultant or coach because simply put, “You cannot see the full picture when you’re in the frame” ~ Les Brown Obviously it doesn’t have to be me lol, it’s important you have a connection with your business consultant and that you resonate with their values and admire their achievements. For me, no connection equals we’re not working together. I believe it’s also important to make it easy for people to do business with you and make it a ‘No Brainer’ which is why I offer a money back guarantee on my consultancy BUT you have to be 100% committed and implement everything! Otherwise don’t waste your time. There are lots of online resources, personally I’m a fan of going to the right business conferences and workshops for you specifically and working with someone in a coaching/consultancy capacity and/or in a mastermind group. GEORGE, CAN YOU GIVE US SOME TIPS ABOUT WHAT BUSINESSES SHOULD BE DOING RIGHT SO THEY

SURVIVE IN THE CURRENT GLOBAL CRISIS? THE NEW ‘NORMAL’ FOR YOU & YOUR BUSINESS IS AS FOLLOWS IN 2 PARTS What should I be doing right now? Part 1 - You need to keep as much money in your Business as possible right now so you should: • Get rid of expenses that you don’t need to run your business right now • Get rid of expenses that don’t bring your results right now • Arrange payment holidays for tax, business rates, vehicle finance etc. Basically, arrange payment freezes with all financial and government institutions • Collect debts in that you’re owed and incentive them to do so. • Get access to funds where applicable as mentioned above with regards to government grants, loans and support schemes. • Look after your clients like never before! It’s much easier to keep a client than get a new one. • OVERDELIVER like never before! • People will remember how you made them feel during this time. • Prepare a 90 day action plan and use a Cashflow Forecast. • If you’ve never used a 13 week cashflow forecast, it’s more important NOW more than ever! If you want a ready to us template with all the formulas built in contact my office and I’ll get one sent out to you. Part 2 – What preparations can Businesses make now so they are strong coming out of lockdown? 1. Understand the opportunities available and adapt! Firstly, Make a list of the people/ businesses/industries that have

SD Biz - May 2020 | 25 been busier than ever and position yourself, your business, your products and services to add value to them! Secondly, Make a list of the people/ businesses and industries that NEED someone like YOU, your business, your products and your services in order to earn money and again position yourself to add value to these people and make it a ‘No Brainer’ to do business with you! Thirdly, Make a list of the businesses that will be focused on making up for lost income during the lockdown and again position yourself with these guys. If you feel like you like need some help to complete this exercise email me at kickstart@gfssolutions.co.uk. 2. Generate new enquiries! Obviously this is easier said than done, I get that however you have toestablish a system to be able to PROACTIVELY generate leads, enquiries and referrals into your business consistently. You cannot afford to sit back, cross your fingers and hope people will come to you. 3. You have to adapt your Sales process to meet the landscape we’re in. The market has evolved and we need to be more understanding and empathetic! 5. Stay focused on your 12 month business plan! Yes, the last 8 weeks have been crazy in many ways BUT you have to choose the end of the story for you and your business!

You can say: “I didn’t hit my targets because of the coronavirus!” OR: “I exceeded my targets despite the coronavirus!” No Confusions, Just Solutions! YOU HAVE 2 CHOICES