We haven’t seen such a big vacation in our life, yes coronavirus is the most dangerous thing the world has seen in the last 100 years and affected humanity for the longest time personally and professionally. It has taken record break lives.
But with good comes bad and with bad things comes some good stuff too. Our climate is changing, nature is showing beautiful colours, we as a human being are able to stay at home with families, business people are getting time to rethink about their business.
Young Entrepreneur Todd Stephenson founder of PupSocks feels Lockdown is a perfect opportunity to get started with most essential tasks and rethink about finance and also business methods.
According to Todd Stephenson without worrying too much about Lockdown and we should start preparing for best news ways possible for companies.
You can also plan about below things which can help you in business like Todd Stephenson.
Todd says to make short and long term financial goals. See how much finance will be needed for the project to achieve the goal. Try to dig out the most important things.
Make a proper financial plan:
Talk to your finance team and your team related to the financial plan for business and family too with the wife.
Check your current financial situation: If you are planning something new for your business, then you must think about the current economic situation. Todd Stephenson says see disposable income, source of new revenue, investments to be done, short and long term expense.
Make a proper budget: Short term or long term you should plan for your company’s budget; it is the most important thing right now. We don’t know how much more time coronavirus will affect our economy. So it is essential to see the budget of the company. So try to cut down unnecessary expenses so that you can save that for business.
Try to use an online Platform: The most important thing you can do is create a website like Todd Stephenson has done for his PopSocks and also start expanding your business by using the social media platform. Todd’s PopSocks is having millions of followers on Instagram, which is helping them gain good business even in this slowdown.
So these are some of the points which can help every business person grow better even in Pandemic and after Pandemic like Todd Stephenson.
Follow Todd Stephenson on Instagram @Sockpapi