In my 28+ year career as a management consultant, I have met, interviewed and worked with over 200 successful and not so successful family owned firms – as well as a few dozen multinational corporations. In doing so, I have learned quite a lot about fixing and improving businesses. There is always something to fix even if it’s not ‘broken’. C2CB is here to help in this COVID-19 crisis.
Read on and see which ones apply to you and how we can help.
- Your time involvement
Are you spending much over 60 hours per week on your business during this crisis? If so, be aware that a recent study by University of Manchester researchers indicate that people who work over 60 hours a week can DOUBLE their risk of a heart attack due to excess stress and lack of sleep.  If you cannot find anything to do right now…that is just as bad. Time stops for no one and your business needs you.
****The Covid-19 Crisis has probably sent you in one of two ways: 1) working like crazy until all hours of the night to keep your business afloat or 2) standing still, unable to figure things out right now and ALONE.
- Your income
Prior to this crisis, you were probably making a reasonable income in a “not broken” business. Now all that has changed. Are you thinking your income is gone and your business incorrigibly broken? Probably NO on both counts. But you need to act fast and now to get back on track.
****Look back at your Pre-Covid-19 business. What were the most profitable parts, days, products or items that contributed the most to your income? These are the ones that you need to focus on first. Be calm and list those items that made up around 70-80% of your revenue. List what it takes to get that back. Focus on that.
- Eventual transition to ‘normalcy’
We don’t know how long that will take, or what ‘normal’ will look like. Take that list above and think what you need to do if ‘normal’ takes 30, 60, 90 days or more. What do you need to do to be ready when ‘normal’ returns. What parts won’t come back? Which ones will come back first? What new sales of products or services can you add to make up for those that won’t come back or will come back slowly?
****Take the previous list and write out a short ‘comeback’ plan for each of them….include those potential new sales that you might add. That is your ‘comeback’ plan. Now, what do you need to make that happen? Money? – Check SBDC, SBA and their PPP and loan programs. Allies? – get out your Rolodex and reach out to previous allies, suppliers, buyers and friends to get them on board. A group does more collectively than alone.
- About your risk and ability to ‘sleep at night’
Few business owners sleep well all the time. We know that. And surely much less in these trying and uncertain times.
**** ‘Compartmentalize’ your time. Devote X time to your business each day. Making plans, as above, reaching out to friends and partners to see how together each of you can help each other’s business. Leave Y time for sports, family and general ‘de-stress’ time. Your business is going to need you at a 100% once ‘normal’ returns
About how C2CB can help.
This is no time for John Wayne machismo or British stiff upper lip.
Few businesses cannot be improved or their problems solved. It starts with recognizing problems and then seeking out the network and sources of help to fix these problems.
At C2CB we have thirty Small Business Owners and Consultants to Small Businesses that are ready, willing and able to help you. By serving as a coach, friendly ear, sounding board, source of advice or connector to other owners, C2CB is here to help you Pro-Bono.
CONTACT US AT WWW.C2CB.CO
Small Business Owners helping other Small Business Owners