During this time, many business owners are meeting challenges that we have never seen before. Do we complain or do we adapt? Each of us has a choice – do we complain about our situation or do we see the situation as an opportunity! We are all in the same boat during this time. Do we contract, blame, and give up or do we adapt and thrive?
What are your choices during this time? Is your income affected? Do you have options? Some options have been provided through our United States government but we can’t sit back and wait because, honestly, we don’t know how long this is going to take to fully implement.
- Stimulus Checks for those Americans that qualify. What I have read is they will start being direct deposited around April 15th. What if the IRS doesn’t have your direct deposit information? There are still a lot of questions and concerns on when you might actually receive this money if you are eligible.
- Unemployment: I have heard from various friends that this website continues to crash so be persistent.
- SBA Loans such as the EIDL (Economic Injury Disaster Loan) or PPPL (Paycheck Protection Program Loan
- These are great options for businesses but do some research on what is best for your business. One of the the best resources I have found has been the NFIB (National Federation of Independent Business) You can watch replays of their webinars at https://www.nfib.com/webinars/
- Mindset: During this time each of us has a choice in how we handle life on a daily basis! Many things we are unable to control about this. Can we control COVID-19? NO! But we can control our family’s response to dealing with it as well as our business’ response. We can practice social distancing and only go out for essentials. I recommend not going out more than once every week or two and many areas have delivery services. Instacart does deliveries in many areas of the country and I have had friends use them during this time. There are also many local services that are stepping up and adapting their business during this time. Delivery Dudes is a local food delivery service but has now stepped up to do personal shopping and delivery. One thing we can trust is the whole world is in a similar boat right now.
With all of this being said, what can I do differently? What can my business do differently? Can I virtualize my business? If I cannot virtualize my business, what else can I do to adapt my business? These are all valid questions that need to be asked. I have already seen several businesses adapt quickly. We have a local fashion designer who is now using her team to create masks for COVID-19; Car companies are starting to make ventilators.
What can you do to shift your business? One of the toughest challenged businesses may be nail technicians, hair care studios, massage therapists and more. Can you go online and give tips on how to color your hair during this time? While doing that, can you sell gift cards that people can use when you get back to work? One of the worst things to do is simply go dark. Each of us is concerned about ourselves but there is a greater concern for others and their wellbeing. Stay connected, stay as positive as you can, put out good tips for your customers, adapt your plan, come up with new ideas. If you need assistance during this time, please ask for it. We have launched a private FB group around some of these issues. I is by invitation only so if you feel it might be of benefit to you or someone you know, please reach out to me at email@example.com.