The uncertainty of today’s market coupled with the cyclical nature of politics can be challenging for the business owners in the industry working to sustain operations. Author, entrepreneur, and financial expert, Greg Crabtree, recently spoke on an AAPC webinar regarding financial planning and capital management during a crisis. He discussed what you can do now to protect and stabilize your business and how to ramp back up. The webinar also included access to free templates and resources to help you along the way.
Check out the key lessons from the webinar below, and listen to the recording for even more expert insights.
This webinar has been archived for playback. AAPC members can click here to view all webinar archives.
Key Lessons from the Webinar
- Forecast: Create a 90 day plan to get you through the initial months of uncertainty, but also establish a 180 day plan to determine how your firm can ramp back up. Will consumers come rushing back, or will they trickle in slowly at first?
- Evaluate: Take stock of the cash you have on hand, the cash required to complete your 90 and 180 day plans, and plan how you will access and use it.
- Unique Challenges for Political Consulting Firms: Traditionally, political campaign clients are slower payers. Additionally, primaries and election days are being delayed, causing campaigns to have to reevaluate their operations. Before turning down a potential client, run multiple scenarios of what you might be able to provide. It might also be beneficial to break projects into smaller amounts and require payment up front for each element.
Access the full recording to hear additional tips from our panelists.
This webinar is eligible for one (1) C1 Business Growth and Planning credit towards AAPC’s Business Fundamentals Certificate. To learn more about achieving this Certificate, click here.