How to help clients’ small businesses survive

One of my clients was having sleepless nights as his business and employees’ morale was badly affected by this pandemic. I knew I could help him so I reached out to him as his trusted advisor.

As the owner of the company, my client plays an important role in steering his business out of the storm of challenging times. To do this well, though, it was vital he understand how to properly manage his cash flow as well as the importance of purchasing insurance for himself and his family. To assist and bring him clarity, we presented possible solutions to him and met with his staff.

Alleviating client concerns

See more from Yee Von Lim in “Getting referrals through virtual prospecting.”

Securing sufficient insurance for him lifted his worries about the welfare of his family, and he was able to fully concentrate on rebuilding his business. He was thankful to me for helping him and his business move from being disoriented to more laser-focused. He also now understands the need to properly manage his personal and company finances.

Aside from that, before the COVID-19 pandemic, many businesses focused on driving revenue, marketing, sales, innovation and increasing market share. But for business to survive today, we need to make faster decisions in controlling costs and cash flow management. 

Sharing business survival tips

After much discussion with several business owners and CEOs, we have compiled some key points for small- and medium-sized enterprises and entrepreneurs to help manage their current roadblocks. I created a condensed digital book titled “SME Survival Tips.” (SME stands for small- and medium-sized enterprise).

When our clients and their families are thriving, we’re thriving too. That’s why, for me, it’s important to be there for my clients and share with them how I can be of benefit to them.

Yee Von Lim, from Selangor, Malaysia, is a Court of the Table qualifier and has been an MDRT member since 2016. Email her for more information.