In the current landscape, it’s to be expected that we are all wondering what is going to happen to our self-employed businesses. I’ve put together a four point action plan that you can dive into today to make sure you are futureproofing your business as much as possible at this crucial time. Not only do I want you to survive, I want you to thrive.

1. RETAINING EXISTING INCOME

Your existing booked clients will be looking for your leadership and your creative solutions right now, so this is the most pressing thing you need to do. I’ve seen some people saying’ “I don’t want to contact my clients because I don’t want to give them ideas”. The truth is that they will already be thinking of cancelling. It’s much better to communicate now, rather than later, so that you seem like the proactive one and you remain in charge of the narrative.

AVOIDING CANCELLATIONS

It’s important to acknowledge that the situation is difficult for all parties, but it’s equally important to emphasise that this won’t last forever.

If you are a photographer, people are still going to get married and they are eventually going to need portrait and commercial shoots. These things will happen – not right now – but they will happen. Do also refrain from speculating. This isn’t the time to say “We don’t know what’s going to happen, but if this, and if that…”. 

Instead, be really clear about different options open to them and outline the most likely key scenarios according to the most likely timeline of events for your location. (At the end of this article, you’ll find a link to some suggested wording, very kindly shared by photographer, Rowan Williams.) 

These are the scenarios I recommend covering.

1. If you become infected, what is your backup plan? 

2. If you become infected and cannot deliver on your contract.

3. If your client decides to postpone the event or booking

4. If the event or booking is postponed due to quarantine. 

PAYMENT SCHEDULES

When you are communicating with your clients and it’s not possible to agree an exact timeline, don’t be afraid to share that cashflow is really vital for small businesses, especially in this current climate.

You can highlight that it’s an opportunity for them to pay for an event or a contract over time. They might appreciate the option to slowly pay off their wedding photography, for example, and some people may be in professions which aren’t going to be affected. 

A good negotiation ends in compromise and great compromise is achieved when both people can live with the outcome even if it’s not ideal. Understand that these conversations might be difficult.

• Consider asking for the balance to be paid when it was originally due. 
• If that’s not possible, you can ask for a lesser amount to be paid on the original due date and then spread the balance over a greater number of payments. 
• Highlight that paying you now will lock in rates that might otherwise go up next year.

ALTERNATIVE ARRANGEMENTS

If you offer services that are non-contact or could involve shooting from a distance, you may have the opportunity to build relationships. 

For couples who need to move their wedding date, propose a non-contact couples shoot to create beautiful images to mark their original wedding date.

Anything you can do to build relationships with them at now is going to be really helpful and it’s going to help build their loyalty.

I’ve also seen some enterprising videography companies offering free live streaming of weddings that are still taking place. 

If you have commercial work booked that involved a large lump-sum payment, consider offering to convert any big one-time payments into a monthly subscription over a longer period to keep some cash coming in and maintain the relationship

You may also have scenarios where clients still want work completing but for less money. Don’t rush to discount but instead propose that projects are scaled down rather than cancelled. 

BUDDY UP

This is probably the most important thing to do to safeguard your business. I would highly recommend teaming up with someone who is in the same industry as you and can easily understand what you do. I’d really urge you to go above and beyond your usual emergency cover arrangements here. If you’re a photographer, reach out to one or two people near you and discuss how you can keep operating each other’s businesses if you aren’t able to operate it yourself.

Consider training each other on your essential workflows. 

• How and where do you store memory cards? 
• Document storage systems and passwords, in case they need to retrieve photos from your computer to send to a client.

2. RE-ORGANISING YOUR CASHFLOW

• Start with identifying your largest business expenses and check for offers – mobile phone and utility companies are being very helpful.
• Check for any government financial aid packages. For example, business premises rates have been abolished in the UK for the next year and the government is announcing additional financial support on a daily basis. 
• You can defer business taxes like VAT and Corporation Tax with Time To Pay.
• Check with your local council because it’s going to vary, but consider suspending any automatic payments of government related expenses like council tax. 
• If you’re in the UK you can check eligibility for Universal Credit and Jobseeker’s Allowance. You also do not have to be seeking other employment. You just have to prove that you are trying to safeguard your business. 
• Mortgage companies are offering payment holidays and happy to spread it over the rest of the term.
• Banks are offering loans and overdrafts.

3. REPLACING INCOME

It’s tempting to diversify immediately and jump into offering new services. Before you do, be mindful of making someone’s first experience of what you offer, a poor imitation of your usual service and don’t devalue what you do by slashing your rates.

Instead focus on remaining visible. People are going to be online much more so than usual, so it’s important to keep marketing your business and stay at the top of people’s minds.

If you think you can offer additional services, consider the following:

• You might try to generate sales from some past clients by approaching people who didn’t buy image files or albums the first time around.
• Sell vouchers for a photo shoot at a later date. 
• Offer free portfolio-building shoots if you can safely do so. It’s a great way to build relationships which will be fruitful later on.
• Now’s the time to create some stock photography for sites like Getty Images.
• If you don’t want to offer new services consider applying for jobs which are related to essential services like food stores and NHS phone lines.

4. REACH OUT AND REFRESH

This is a great time, if cash is tight, to skill-swap with someone. For example, you might be able to swap photography services with a web designer or an SEO expert. 

Obviously this is a great time to dive into online learning and companies are putting out all sorts of offers. This could be a great opportunity to scale up to offer a new service. Maybe it’s the time for you to master videography or refresh your website. 

It’s also a great time to do your accounts because the better handle you’ve got on what you owe the better. 

And of course, if you’ve been putting off making a marketing plan, now is the time!

If you’d like to join an inspiring online community, you can find out more about Melissa’s online membership, The Marketing Fix, at www.themarketingfix.co. 

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