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ARTICLE
Most of you will have been adversely affected by the Coronavirus pandemic and those knocks keep coming. It must have been so disappointing that the June 21st date has been extended to July 19th, which has probably led to a raft of cancellations. I understand how difficult this time has been for you all. However, it is possible to look ahead to the future and use your time now to plan how you will take your business forward. At least you will feel that you have some control! With over 30 years of experience, I know it’s important for businesses to plan and understand why it’s crucial for business success.

Step 1: Where To Start?


Give yourself time away from your place of work (whether at home or an office) to think about where your business is headed. Where do you want to take your company and how will you get there?

Try to have a clear head before you start. Perhaps you could sit in the garden, or maybe go for a walk? Even sitting in a different part of the house may unlock some ideas for business success! Maybe you could put some music on in the background that’ll help you be inspired. The important thing is to set time aside to plan and stick to it. Things to consider:

Where is your business now?

Consider how it operates, its profitability and competition. Did you come up with some great ideas in the last year to bring in some income? Can you build on that? What were your competitors doing?

Where do you want to take it?

Create a vision for your business success and set out your objectives for the next five years.

What do you need to do to get there?

Take account of any changes needed and how you will do that. Does your structure need to change to achieve your vision of business success? Will you need help with financing?

Step 2: Review


Now you know where you are wanting to go, it is time to map out your current situation and your business processes and finances.

Reopening a business

As a DJ, you will have had to shut down for the last 18 months. So this year you will have particular financial aspects to think through.
Things to consider:

Cost control

Cut back on your overheads where possible. Think about any extra costs and how you can control them.

Possible extra costs:

Perspex screens
PPE equipment
Hygiene stations
Fewer customers due to social distancing

Perhaps you can work with others in the industry to get good rates on some of the necessary equipment?

Cash control

Ensure that you keep in regular contact with your existing customers. Can they afford to pay your invoices on time or do they need to go to staged payments? When taking on new customers, make sure your onboarding system has good credit checks in place.

Review of business processes and business finances

It is an ideal time to think through how you do things and whether there are any changes that can be made, or help you need to improve your processes. Things to consider:

Equipment

Do you have the correct equipment for your job? Is your computer fast enough? Do you need a new printer/scanner or music equipment? If during lockdown ideas have come to you to work differently, do you need specific equipment to make this happen?

Time wasters

Are there areas of your system that waste time but you don’t feel that you can dedicate the time to sort them out? It will be time well spent if you do it! Consider it an investment in achieving business success.

Help needed

Do you need to ask for help when looking at your systems? Maybe admin, finance or marketing don’t come naturally to you? Consulting with an outside expert could help you identify efficiencies.

Business streams

You may have discovered a different business stream during lockdown. Will this continue as you open your DJ business? If so, how will the two businesses work in conjunction with each other?

Accounting system
The full review can be found in Pro Mobile Issue 108, Pages 30-33.
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