Health is wealth- How to protect the most valuable asset in your business? By Rachel Marks from All Active

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The Scary Times Cashflow Survival Guide By Nicki Sheehan

In this week’s article, Nicki Sheehan reminds us that this too shall pass! Even though the news is full of doom and gloom about recession, there are things you can take control of in your business to come out the other side even stronger than when you went in! Read the article and share your thoughts with your group around which of these suggestions could be most useful for YOU right now.

Running a business can be tough and you might be struggling to make ends meet right now. It’s natural to feel stressed and anxious when money is tight and the news is full of talk about recessions.

But a recession does not have to mean disaster for your business. There are plenty of businesses who thrive during a recession and plenty of businesses which lose money during boom times.

With the right mindset, strategy & actions you can weather this latest economic storm and come out the other side stronger than ever.

Here are some practical tips to help you manage your cashflow and survive these challenging times.

Firstly, face your fears head on. It might be tempting, but don’t bury your head in the sand and hope the problem will go away. Assess the state of your business, allow yourself to freak out, and then move on.

Facing the worst possible outcome will give you a level of peace and clarity to enable you to dig deep, be resourceful and get through the tough times.

It’s also important to understand the landscape.  Create a simple cashflow forecast by listing all your expenses that are coming up and the money you expect to come in, along with the expected dates. Focus on the next 4-12 weeks and use this information to make decisions about what you need to do next.

Next focus on what you can control. Don’t worry about factors outside your control. Instead concentrate on creating a cashflow forecast, delivering the best value and service possible, managing stock levels, controlling and cutting your expenses and make sure you keep your marketing activities up.

Think about tax and talk to your bank. If you’re struggling to pay your taxes you could set up a payment plan or use tax financing. The key thing is to keep IRD informed about what’s going on. If in doubt chat to your accountant about the best options for you.

Talk your bank early and be honest about your situation. If you have loans, look at whether it’s worth switching to interest only or considering a repayment holiday. Short term loans or OD extensions can be helpful in a pinch.

Manage your debtors and creditors. Send invoices frequently and don’t be scared to follow up on late payments. Make it easy for customers to pay, offer discounts for early payment and consider requesting deposits or partial payments up front.

Pay your creditors on time if possible as we all know the pain of being on the receiving end of customers who are slow payers.

Finally, ask for help with managing your cashflow sooner rather than later. Don’t be afraid to ask for help managing your cashflow. Talk to your accountant sooner rather than later. They have the skills to help you, but the longer you leave it, the harder it can be to turn things around. Having a sounding board and practical advice can help cut through the overwhelm and get you back on track.

Find out how Nicki (Chief Encouragement Office at Trio Accounting) helps her clients here:

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Health is wealth- How to protect the most valuable asset in your business? By Rachel Marks from All Active

The biggest income generator in your business isn’t your intellectual property or programmes, it’s not your website – it’s YOU! So, it stands to reason that we as small business owners need to do whatever we can to protect our income by keeping our bodies in great working order! Below is an article contributed by Rachel Marks where she discusses specific tips we can use to take care of ourselves and safeguard our physical ability to generate income.  Read the article and consider sharing with your group YOUR strategies for staying healthy OR one thing you know you can improve.

When you think about your business, what do you consider to be the most important asset? Many will think first about their staff, their premises, their car or perhaps any equipment they require daily to operate their business effectively.

But, the most important and irreplaceable asset is you. Have you considered how your business could continue to operate if you were too sick to work? Are you neglecting your health because you don’t consider it a priority or are just too busy? Often, it’s not till we lose that thing we take for granted that the penny drops.

Health coach and Personal Trainer Rachel Marks strives to be the best role model for her clients and other business owners. She is passionate about supporting other women to maintain great health whilst operating a thriving business.

  1. Your Motivator: Firstly, you need to know your why and your perfect outcome. If you were fitter, stronger, and more energetic what else would you be doing that you don’t have the energy for now in your business?
  2. Move: Exercise doesn’t have to be just a solid 30-60 minutes per day. Bouts of movement frequently throughout the day are just as effective. Perform a few squats while you are waiting by the printer or balance on one foot whilst on the phone. Take a walking meeting during the day and climb the stairs instead of getting in the lift. Standing desks are helpful too as you could march on the spot while you are working. Exercise makes you smarter which is a great asset to have in your business.
  3. Hydrate: If you are living on coffee and sugary drinks that can have a negative effect on your sleep and your thinking. Every system in the body needs water to function well. Try warm water with lemon and even herbal teas. A good test for hydration is by midday your urine should be light in colour.
  4. Manage stress: Develop some strategies for lowering stress by practicing diaphragmatic (belly) breathing and meditation. If you are chasing the metaphorical tiger all day, chances are your body is in a sympathetic state. This means your body won’t be rejuvenating and digesting properly. Our bodies are not designed for long bouts of stress and failing to address this can lead to burnout.
  5. Sleep is everything. We all need to get between 7-9 hours and the exact time will vary between body types. It’s important to ensure you switch off screens at least 60 minutes before sleep as the blue light reduces the hormone melatonin or your sleep hormone. Do something relaxing before sleep such as meditation, reading a book, or offloading some thoughts into a note pad. Whatever you do never take any work into the bedroom.
  6. Avoid high sugar and salty food or cut them down substantially. They will actually cause inflammation and stress in your body, deplete your mental and physical energy and raise your risk of developing a wide range of diseases. Eat a variety of fresh foods with lots of colour.

To find out what your unique body needs to be in its best health, visit Rachel’s website:

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