{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Business Strategy for CPA's","title":"118 Pent-Up, Flat-line, or Decrease: Anticipating 2021 Demand for Your Advisory Clients","html":"","width":"100%","height":180,"duration":513,"description":"Today I share with you a way of looking at 2021 on your clients’ behalf. \nWhile exactly predicting the future is difficult, the year can be broken down into 3 main phases: hunkered-down, re-opening, and post-Covid. We are likely to be hunkered down through April, then May - September we will see continued business growth as things reopen, then September and beyond as we reach herd immunity, we will find our new post-Covid-normal. \nHelping your clients consider these 3 phases and anticipate demand in their businesses can set them up to avoid a crash, or take advantage of a wave of interest.\nFour main groups of businesses\nThere also exist 4 main groups of businesses.\nThose who:\n experienced significant growth in 2021 (plexiglass and cleaning suppliers, funeral homes, software that facilitated work-from-home)\nhad steady or minimally impacted (professional services, construction, and businesses that were essential or could operate in a Covid-safe way)\nsuffered, but are managing to hang on, if only barely (physical therapists, chiropractors, salons, commercial real estate)\nGot walloped (local restaurants, gyms, travel related, anything conference related)\nPutting your clients into these different groupings can help them think about how they might be affected in each phase.  \n \nHelp Your Clients Anticipate Demand\nFor example:\nWhat should the plexiglass supplier be anticipating for demand in 2021? How about the funeral home - at what point will demand dial down? How should one staff appropriately through each phase?\nWhat should the physical therapist anticipate in terms of demand - if they laid off staff, when should they think about ramping back up? Given that hiring takes time (up to 8 weeks!) when should they begin the hiring process so as not to miss the wave of pent-up demand? If they wait for demand to ramp up to begin hiring, they will be unable to take full advantage of business demand.\nFor the salon owner: when will demand peak, and how to be best prepared?...","thumbnail_url":"https://img.transistorcdn.com/AZFvbY29RNsC20PTchqbqXsFoNMjM1040wmYivreg-g/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9lZmE1/ODU2OWRkNzA4ZDQ2/ODg2YmEwYjYzNmEw/NjkzNC5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}