Conducting Business In The Midst Of A Crisis?The coronavirus has had a massive impact on people and businesses all over the world. Many of the preventative measures put in place have made it very difficult to be a business owner. More and more, people are staying at home, leaving small business owners with very little foot traffic.
And yet, despite everything, the entrepreneurial spirit lives on. Just because the traditional ways of conducting business have become uncertain, it doesn't mean that your business can't adapt and find new ways to succeed. From operating a remote workforce to implementing tactics to improve your business during mandatory closures to reopening plans, we have some ideas and information that you won't want to miss!
- 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.
- 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.
- 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 […]
- 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.
- 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.
- 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.
- Over the last ten to fifteen years the idea of businesses utilizing a remote workforce has grown in popularity. However, the outbreak of COVID-19 has forced many business owners to adopt this model almost overnight. With such a break from the traditional business model, there are bound to be logistical issues. How do you monitor your team’s production? What’s the best way to train them? Are there ways to foster teamwork when everyone is isolated? I had the chance to talk about these subjects and more with a fellow entrepreneur that has worked with a remote workforce since 2008. Join me as I share what I’ve learned about the ins and outs of running a business with a remote workforce.
- The COVID-19 pandemic has taken a massive toll on the economy and the way that we conduct business. As many are reeling from the shock of the disease’s immediate impact on small businesses — both owners and their employees — the U.S. Government has put together legislation to attempt to alleviate some of the economic strain. As is the case with most legislation, there is a lot to unpack in the Senate CARES act. I’ve taken the time to comb through some of the language and provisions included in the bill and have identified some of the key points that may impact you, the business owner. Join me as I explain the bill in Financially Simple terms.
- Even in normal circumstances, today’s subject is one that many entrepreneurial doctors struggle with. The truth is that many business owners — not just doctors and dentists — aren’t fans of marketing. It’s difficult to really know how much time or money to commit to it and oftentimes, it’s even more difficult to measure the results. Since that’s the case when everything is moving along like normal, surely you should abandon your marketing initiatives altogether in the midst of the COVID-19 pandemic… Right? Not so fast! I’d like to spend a little time talking about how and why you should be marketing your practice in turbulent times.
- We are facing unprecedented challenges in the midst of the COVID-19 pandemic. Many states are imposing lockdowns in which all non-essential businesses are closing their doors including your dental practice. You have been ordered to cease operations until further notice. So what good could possibly come of all of this doom and gloom and government-mandated downtime? How about the wholesale improvement of your practice? A perpetual optimist, I try to seek out the silver lining in all situations. That’s why I believe that this is the perfect opportunity to really improve your dental practice by conducting a SWOT analysis. Follow along with me as I explain how to make the most of an otherwise frustrating experience in the life of your practice.