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Small Business; Stay in the Fight!

Updated: Nov 9, 2020

The devastation from Covid 19 is real. The health effects are awful but so are the economic effects for small businesses. The system has always favored the larger companies but now is the time for Entrepreneurs who trying to build, trying to be better to stand up and fight. You are needed more than ever.

If you need funding, get to the PPP program and build that relationship with your banker if you haven't previously.

Stay in touch with your employees. If you can keep them, great. If you had to lay them off temporarily, forgive yourself. In either case, don't be afraid to reach out and check on how they are doing. They are likely concerned about longer term prospects and you can help set their mind at ease. Leadership is critical here. The blessing of small business is that you can get to know your people at a much closer level. Taking the time to do this can lead to better culture.

Make employees aware of how they might access money if they have challenges. If you sponsor a 401k program, the CARES program has certain provisions to ease access to these funds. First step is to check with your 401k sponsor since they have to make the changes to their document and should have good communication pieces that you can share.

Take the time to dream. Lack of activity is scary but it does give us all a chance to reflect on the direction and hopes for our business. Start thinking forward. Start moving mentally to that place you want to be in 3/5 years. Dale Carnegie noted long ago that the worst action someone can take at a time of challenge is "no action". Beginning to think in terms of progress gets you moving.

This time is not easy. When you became an entrepreneur you made a choice to take a different path and that comes with strength and courage. Muster them now to lead your company and team. It's time to fight.

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