May 5, 2020
At this point, we’ve all heard about the SBA’s Paycheck Protection Program (PPP) that was rolled out as a part of the Cares Act. There’s even a good chance that you have taken part in this program. While the PPP has many potential benefits to business owners during the COVID-19 crisis, there may be some hidden dangers in it, as well. In today’s blog, I’m going to share some very important information with you. The purpose of sharing this with you is to inform you of some of the hidden danger business owners face with the PPP loan, and hopefully help you to avoid any troubles.
May 1, 2020
I love people. I enjoy encouraging them and helping them grow. Part of that is because of my personal faith and some of it is just who I am. Since the COVID-19 outbreak, I have grown to realize just how much I can’t wait to be around them once again. As I was reflecting on this, I began to think about today’s topic. As business owners, the people on our teams are our biggest asset. Although I truly believe that, I also understand that managing that team can be quite difficult — albeit rewarding — at times. That’s why I’ve put together five points every business owner should know for successful team management. As our teams come back online after the shutdowns, it is the perfect time to address older issues and start with a clean slate.
April 28, 2020
I am an avid fisherman and outdoorsmen. If it involves being in the woods or on the water, I am ready to go. As a fisherman, I learned very early on that different fish, waters, and even locales require different approaches. What works for bass fishing in East Tennessee doesn’t necessarily work when I’m fishing for trout in Montana. Depending on my goal, I need to change and adjust my tactics. The same is true in business. Sometimes, we need to change our approach in order to find success. In today’s business climate, more and more business owners are discovering that what worked before the closures may not work when they reopen their businesses. Recently, we discussed how turnaround management can help small business owners to form a new approach. Today, I’d like to dig a little deeper with 10 keys to getting off on the right foot when reopening […]
April 21, 2020
Business owners all over the country have taken advantage of the Small Business Administration’s Payroll Protection Program (PPP). So many, in fact, that the PPP has already exhausted its $350 billion budget. Although some of you may still be waiting for your funds to be deposited, many others have already received their money. But what do we do with the money now that we have it? After all, the beauty of the PPP is its forgiveness provision. In today’s article, I will detail some ways to get the most out of your PPP forgiveness.
April 16, 2020
The entrepreneurial spirit is one of adaptability, ambition, and determination. We adapt to changing economic and business trends. Our ambitions lead us to create the best possible future for ourselves, our businesses, and our communities. Dogged determination means we will never taste permanent failure, only temporary setbacks. These traits are the very reason that I will bet on the entrepreneur every single time. Likewise, these traits provide the foundation for our path forward. For many business owners, turnaround management is exactly what their organization needs to emerge victorious when the pandemic comes to an end. Follow me as I explain four essential techniques to turnaround management.
April 2, 2020
Last update – 4:29 pm, April 6 Over the course of the COVID-19 pandemic, news and information have changed at a frenetic pace.* As the information on the Senate Cares Act was released on 3-27-2020, it was already in the process of changing. So what has the Cares Act changed for us, as business owners, in regards to the Economic Injury Disaster Loan? What do we do with this new information? Who is eligible? What portion of the loans will be forgiven? These are just some of the questions that we will address as we look at the update to the Cares Act and what to do now.