COVID19 Related Business Blogs

The Formula for Change

The Formula for Change

We all hear “change is a good thing”…but even when we know it’s a good thing, it can still be difficult to get moving. To help make that transition easier, let’s walk through our formula for change – don’t worry, you non-numbers people, there’s not much math for this one. …
Use the Buddy System

Use the Buddy System

The Value of Peer-to-Peer Learning for Entrepreneurs At an early age, we’re taught “the buddy system” – the importance of having someone by your side, making sure you’re safe, and someone to check-in with. And that system never really goes away. Every day, we have the opportunity to listen and…
Time to Plan to Plan Your Time

Time to Plan to Plan Your Time

We all want more – more energy, more money, more time. And out of all of our resources, time is the most precious because it’s the only finite resource. Whatever we do, we can’t buy more time or make more time... Or can we? Absolutely we can MAKE more time.…
Keep Your Time on Target

Keep Your Time on Target

We all have the same 24 hours in a day. Yet some people can knock out what seems like 14 different jobs, 8 different volunteer positions, and STILL have time for their friends, family, and their own personal time. How the heck do they do it? Well, it’s not a…
How to Sell Yourself with Confidence

How to Sell Yourself with Confidence

Regardless of what role you’re in at your company, you are a salesperson for at least yourself. You had to sell yourself to get the position or sell yourself to people to do business with you, whether a client, a strategic partner, or a teammate. When you’re thinking about how…
It’s Either a Lesson or a Blessin’: Memories from Mom

It’s Either a Lesson or a Blessin’: Memories from Mom

Well, this is going to be an awfully bittersweet blog to write and this one in particular is going to come from a very special place in my heart. On Nov. 2, 2017, I lost my mom unexpectedly due to a heart attack. And although that was, and still is,…

Leadership Tips during the Crisis

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How to Run a Tight Ship during the Crisis

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A Pandemic Business Checklist By ActionCOACH Doug Winnie

This article is meant to be a simple checklist to review and consider during times of challenges, specifically for the Covid-19 Pandemic which is affecting global operations. The document is not all-inclusive with many areas of business not addressed. Additional discussions should occur with all areas of a business, including human resources, regarding the actual situation occurring in your business and with your team.

  • First, don’t panic. Think calm, cool, collective thoughts; this checklist will help. Read it completely before taking action, then act, DON’T over think.  Communication is one area that needs to occur quickly in any panic situation.
  • Don’t argue with facts. The fact of a pandemic is fact, not hearsay. This means that yes, other factors make this situation seem stupid or silly. The fact is the news, the politicians, even local and global leaders will do things that don’t make logical sense, yet they still do what they do, likely to make the matters worse, not better.  The situation will change, the rules will change; learn the new rules and play your business game based on the new rules.
  • Put your personal care first.  Be sure you are healthy; physically, mentally, and financially.  This is critical as you are the driver of your bus. You can’t help others if you are challenged in these areas.  This is a very big area and without minimizing the importance be sure this is done before working on the other items.
  • Understand your supply chain.  You have a full supply chain, from acquisition to distribution to consider, let’s start with distribution.
  • Does your distribution model need to be changed?  With this pandemic, or other supply chain issues, you might need to change the way you distribute (or sell or deliver).  Do you need to deliver the product/service in a different model?  Will your customer buy the product the same way?   Don’t wait for the customer to find alternative sources.  By the way, don’t try to argue with the logic of the situation – if the situation is global panic or global recession, you won’t win the argument regardless of irrationality.
  • Getting your product/inventory. Do you have to find product someplace different than your prior sources? In many situations the primary source for product or inventory no longer can provide the quantity or timely delivery.  This may be an opportunity to make a change that was already needed.
  • Operationally what is the weakest link? If you step back (and up to 30,000 feet) and look at your entire operation, where is the greatest point of single failure? For some it will be sales, others it is creating the widget (product or service), and others it is getting the team to do the work.  Can technology or another solution eliminate or minimize this greatest single point of failure?
  • Finance challenge or opportunity? In some cases, you may have the ability to leverage debt at a lower cost, meaning this pandemic could be very beneficial. Re-financing debt at a lower cost is a frequent opportunity that can be a huge benefit. A decrease in cash flow that comes from slow payments (higher accounts receivable) might mean a greater use of borrowed capital.  A disaster/pandemic or other type of “emergency” as defined by local or national governments frequently frees up large amounts of cash to keep economies stable. Whether a hurricane, tornado, floods, fires, or a pandemic, look for finance to be an opportunity that occurs rarely yet is a clear opportunity if you are prepared.
  • Your team’s morale is crucial! Given the situation is likely “dire” in the eyes of the news media, communicating your business changes to the team becomes critical. Without communication the FUD Factor kicks in (fear, uncertainty, and doubt), which means panic can escalate. In this case, no news from the leadership is news itself – not good news either.
  • You had better keep selling, and you better keep marketing. People will still buy product and services. There will be taxes due, and restaurants open, and travel happening. Those who market and sell better than their competition will be the winners long term. This is an opportunity to take customers from the competition.  You might want to change your marketing messaging to help customers continue to do business with you. You might want to help your customers understand now is even a great opportunity to do business with you. Are there opportunities due to the situation that allow you to increase your marketing and sales efforts? Look for the silver lining – I suspect there are several!

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