Issue link: https://www.ascpskindeepdigital.com/i/1235208
for the latest info, visit https://www.ascpskincare.com/updates/blog-posts/coronavirus-and-your-practice 33 Stay in touch with your clients. They could probably use a little reassurance from you. Now is a good time to share all the self-care and wellness tips you've gathered in your career. Post to your blog (or finally start one!) and share via email and social media. If you had to cancel clients, you could even check in with them at what was previously their appointment time. PLAN TO REBUILD YOUR DREAM BUSINESS While skin care is paused, do some work on your business. Consider what you love and what you don't. An extended absence is a great time to think about what you would do differently if you were starting from scratch. Soon enough, we will be starting fresh, and the reemergence could be a great time to make the changes you've been thinking about for years. Life probably won't be the same as it was before this global crisis, and we need to continue to support each other with kindness and love. But there will be a time when you can perform professional skin care services again. Let's get ready for that day and use this time to prepare to emerge stronger than before. Be Proactive Two months ago, I didn't know what social distancing was. I flew to New York City to teach at IECSC. At 4:00 p.m., New York declared a state of emergency. The Javits Center needed to be emptied of all exhibitions so that the massive conference center could be used as triage for coronavirus screening if needed. IECSC New York was cancelled, and I was back on a plane to Seattle on Sunday morning. This was the first impact the coronavirus had on my business. This doesn't really compare to what many of you are experiencing in your businesses. Like you, now I know what social distancing is and its instant impact on our businesses. And the scariest part is that we don't know how much or for how long. Let's stay on the preemptive side of this thing and do what we can to protect our businesses and cash flow. Since you have closed your doors, stay connected to your guests via phone calls and emails during this crisis to see how they are doing. Telephone calls that are more caring than solicitations will be greatly appreciated. If you have a membership program, let your clients know you will not be collecting additional membership fees while you are closed. Tell them the current month's payment, if they have not redeemed their benefits, will apply to the first month you open. Negotiate upcoming payments with your equipment lessor, bank, creditors, and landlord. Talk with them. Show them how the number and spending of guests you are currently experiencing is declining compared with last year. Let them know about your cancellations, rebookings, and what your guests are telling you. Talk with these creditors about the seasonality of your business and how this public health crisis will affect you. Discuss what your current break- even point is, and what you think your sales will be in the upcoming months. Ask for an abatement of current and several upcoming payments. Propose that these payments be added to the end of the current term of your agreement. Take whatever steps necessary to budget and conserve cash flow. These are uncharted waters for our industry. We do not have a roadmap and our best guess is the best we can do. Hang in there. —Monte Zwang, principal, Wellness Capital Management