Oklahoma COVID-19 Part 7 - Will you lose customers to ACTUAL death or SALES death?

Today’s video clip focuses on confronting uncomfortable business facts and calculating business #risk from customer losses associated with reopening your small business.

Will you lose customers to ACTUAL death or SALES death?

EVERY business is impacted by a DEATH calculation.

It's always been there. The difference between inactive and active customers. It is important to understand your small business’ death calculation now more than ever.

Many small businesses before #COVID-19 had stagnant or moderate incremental growth because of no clear customer segmentation. Who is your business’ ideal and most profitable customer? What is their average buy? How often? And how much does it cost YOU to sell to THEM?

If you didn’t know it before, not knowing it now makes the likelihood of losing more customers on top of density rules and #coronavirus fear that much more of a risk to your business.

Have you weighed the risks to your business of:

1. Customers who won't shop (Return)

2. Customers who won’t take health precautions and worst yet

3. Customers who threaten or intimidate employees for enforcing health and safety. (Are these even enhanced skills and training you’ve provided to your employees?)

Can you afford to lose customers, lose employees & face increased liability risk?

In the absence of clear health and safety policies, customers are left evaluating THEIR risk before returning to YOUR business.

Too strict or too lax policies can cost you customers, employees and invite additional liability.

Not sure where to start? Give us a call.

Oklahoma COVID-19 Part 6 - Why so many Oklahoma small businesses were NOT prepared to apply for PPP loans

Today’s video clip focuses on removing the barriers hindering critical banking relationships needed for growth.

Before social distancing, many Oklahoma businesses remained at stagnant levels without solid financial records, strategic plans and implementable #growth and revenue plans.

THE REASON? Because many business owners had great work ethic and great ideas, but not great records.

#Coronavirus exposed the huge gap in fundamental business records and processes needed by many small, #minority-owned and #women-owned businesses to demonstrate profit and loss and expense ratios to ensure business success.

Join the FCG Group's discussion as we focus on the #business lessons learned by lack of #P&Ls and #Balancesheets and other indicators of the overall health of #Oklahoma #smallbusiness.

The local mom and pop business model highlights the best of Oklahoma #entrepreneurs - and exposes the high #risk of closure without established banking relationships and access to capital.

Not sure where to start? Give us a call.

Removing the barriers hindering critical banking relationships needed for growth, join the #FCGGroup's discussion on why so many small, minority, rural and w...

Oklahoma COVID-19 Part 5 - Re-evaluating your small business supply chain - business lessons of a just-in-time economy.

Today’s video clip focuses on rethinking carry and inventory costs, a "just enough" supply chain, and calculating hold and turn and minimizing commodity price and availability risks.

Join the FCG Group's discussion as we focus on the #business lessons learned by #supplychain shortages.

As the costs rise of basic commodities, at the same time sourcing consistency and product availability remains uncertain, how will you stabilize your business inventory and supply chain costs?

#Oklahoma small businesses thinking of #reopening from #Covid-19 must ensure they can sustain a 25, 50 or 75% revenue decline for the remainder of FY 2020. What will your revised COGS for key products your business needs in Q3-Q4 2020?

1. Have you considered supply chain availability and cost against downward revenue forecasts?

2. Have you modeled and can your business sustain on 25, 50, or 75% less revenue for the remainder of FY 2020.

3. Have you STARTED the process of revising your revenue and expense projections?

Not sure where to start? Give us a call?

Join the FCG Group's discussion on calculating hold and carry costs for a "just enough" #inventory and supply chain model. Today we focus on the #business le...