Resources To Navigate Your Business During These Times
There is so much information about COVID-19, so we’ve thought we’d help boil this down for you, offering you the most important and relevant information about navigating this from a business perspective. You’ll find resources here on planning financially, working remotely, helping your employees cope, and leading with excellence during a crisis.
We will continue to update the resources found here as there are new developments and programs available.
As always, I’m here to offer any guidance you need on concerns about your business and business continuity.
This too we shall overcome!
Michael M. Marlow
Business Development Manager
What the CARES Act Means for your Business:
US Chamber Covid Emergency Loan Guide – CARES Business Program Resources
Contact Trever Kirkland at First Interstate Bank. He is well aware of the program and can guide you through the process.
Commercial Relationship Manager | NMLS #1325731
First Interstate Bank
25 East Lyndale, Helena, MT 59601
90 Day Financial Planning:
Meet with your CPA and/or Controller/Accountant and create a financial plan for the next 90 days. Re-evaluate this plan every 1-2 weeks to see if you need to adjust.
Stress test your cash! Alan Miltz’ SaaS tool for managing cash – no charge for 3 months – stress test your cash with just 6 numbers from your financials. www.cashflowstory.com/stresstest
Consider adding an expense line item called COVID-19 and dump all or your expenses in there including your staff and personal time spent dealing with the crisis
Stabilizing Your Business: Improvise, Adapt, Overcome.
With constant changes brought on by the pandemic of COVID-19, your business may be presented with cash flow challenges and opportunities you may have never faced before. To respond to these changes, look no further than a motto with which you are familiar: Improvise, Adapt, Overcome. The slogan used by the United States Marine Corps outlines steps you can take to combat the challenges you are facing as you make decisions that will be key to the survival of your business. Read details on this strategy here: https://www.cricpa.com/stabilizing-your-business/
Financial Crisis Management Templates from CPA and Author, Greg Crabtree. Will you have the capital needed to get back to pre-Covid19 profitability levels (or better)? Resource here: https://simplenumbers.me/crisismgmt/
Keeping The Office Safe – Template for Office Protocols:
If your facility is still operating and you have ANY staff coming onsite, you NEED to have clear protocols in place as to how and when people access the building. Here is a copy of our protocols for coming to the office, disinfecting yourself, receiving visitors, and receiving packages/mail.
Keeping Staff Safe When Going To A Client Site – Template for Onsite Protocols:
If your facility is still operating and you have the need to deploy your team into the field for any reason, you NEED to have clear protocols in place to keep them safe and assure everyone has the same level of diligence. Here is a copy of our protocols for going onsite.
Top 6 Best Practices For Businesses Amid COVID-19 from business coach, Ryan Markel
Scan the article for details, but in a nutshell:
- Prioritize Issues of Greatest Urgency
- Triple Your Communication
- Work from Home
- Use Video Conferencing
- Manage Your Cash
- Look for Opportunities to Do Something Extraordinary
Don’t Have Laptops For Your Remote Workers? Try Computer Equipment Rentals
If you’re short on hardware, we have laptops and desktops available that can be configured to your specifications and shipped to your workers anywhere in the country. And once the dust has settled and things are back to normal, we’ll handle the logistics of returning the equipment and wiping it of sensitive data. To discuss how ISM can help your business through this difficult period, please contact us at firstname.lastname@example.org or call (406) 443-8386
A Thought That Keeps Me Going Through This Time:
This past week my team and I have helped dozens of businesses get set up on remote access and given hours of guidance on navigating these uncertain times. We feel battle worn, and I’m sure there’s some on my team feel they can’t get ahead and aren’t able to please everyone.
Do you feel that way? Every time I do, I read this quote from Teddy Roosevelt. If one of our great presidents felt this way, it’s okay for you to fell this way!
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
Staying Centered And Grounded – More Important Now Than Ever!
We are in unprecedented times and the pressure on us as leaders has never been as great. Now more than ever we need to assure we take time for centering, grounding, mindfulness.
One business coach, Ryan Markel, has granted access to FREE Daily Mindfulness Sessions with Oksana Esberard.
Info on these sessions can be found here: SattvaMe Mindfulness Schedule
Pass along to your team!
How to create Irresistible Service Products that will sell in any market
What was working before, won’t work now. You need to innovate to survive, thrive, and get ahead. You need to add bigger VALUE to your clients and to the market. You can’t just offer “deliverables” with hope and a smile. You need to offer real value through real tangible results.
And your confidence in those results will drive 90% of your sales results. It’s how we’ve had clients with little sales experience, sell 6 figure projects. Sales is about offering solutions to painful problems, creating trust, and projecting unshakeable confidence in your offer.
Now the time for businesses to position to DOMINATE, or go under. Because they didn’t innovate fast enough. Service providers can no longer get away with selling hope-based services. Your prospect wonders: “What do I get? What results will we expect to see? When?”
You need answers for them. To be able to clearly articulate why your service is very low risk for them. To prove your service is worth the investment, and the upside far exceeds a very manageable level of risk.
Want to know how to position your service to create an Irresistible Service Offer that can thrive in this very challenging market conditions?
Go here and comment INNOVATE on the post. and Mandi will send you a free resource for how to position your service to create a bulletproof service offer that can thrive in these current very challenging market conditions.
REMOTE COLLABORATION TOOLS:
Zoom Video Conferencing:
We use this at ISM. We hold a weekly huddle Tuewsday mornings at 8:30AM for 20 minutes to align for the week and we get to see each other.
Slack Instant Messaging: www.slack.com
Some companies also use slack in house to communicate in real time about internal and client facing items. They keep their team communication OUT OF OUR INBOXES. There is enough going on in there!
Microsoft Teams for Instant Messaging and Video Conferencing:
This tool is Included in your Microsoft Office 365 Licensing a the Business Essentials, Business Premium, E1, and E3 levels. We use Teams on a daily basis for interoffice and remote communication and interoffice video calls to help keep in touch in these remote times
Bigger Brains has moved their Teams training over to YouTube as a resource for companies who need to learn collaboration in a hurry.
PODCAST: Mindsets for Scary Times
So, how is all of this affecting business?
And how will it affect YOUR business?
While many people are in a panic, Jay Abraham, Dean Jackson, and Joe Polish are NOT panicking at all, and you should know why. The three of them just had one of the most insightful, calm, and important conversations ever about succeeding in business in scary times such as what we’re experiencing right now.
They recorded the conversation and it is available for you to listen as I Love Marketing podcast Episode #362. Of all the podcast episodes they’ve ever done, this will be one of the most important you’ll ever listen to.
Links to More Helpful Information:
COVID-19 live tracker – These are comprehensive trackers of the global to local impact
- There are also exlanations of why we social distance, signs and symptoms, etc
Littler – ‘What we should be doing with teams during this time’
- Take a look, there is a ton of information in here, find the ones that meet your needs right now. https://www.littler.com/publication-press/publication/coronavirus-employer-action-items
CDC – ‘What to do if you think you may have COVID-19’
- This should likely be in everyone’s communication to their teams – https://mcusercontent.com/ae46b0c2f82c481bb31830fbd/files/1ceb0f7c-c298-47dc-9e66-7916c4c61dd7/Sick_with_COVID_19_sheet.pdf
OSHA – ‘Guidance on preparing the workplace for COVID-19’
- Leadership teams should review this and ensure they are doing what is needed to be prepared – https://www.osha.gov/Publications/OSHA3990.pdf
Asaf Bitton, MD, MPH – ‘Why social distancing is needed and how to best go about it’
- Consider the impact of being a ‘node’ in the distribution of the virus and how you can limit the spread. https://medium.com/@ariadnelabs/social-distancing-this-is-not-a-snow-day-ac21d7fa78b4
NBC News – ‘Video covering several areas of the virus – overall very good information’
- Consider sharing or even watching this as part of your meeting rhythms – you can do this virtually as well. https://www.youtube.com/watch?v=HSVqpWkoK30
Fast Company & A LOT MORE – ‘How to manage virtual meetings – best practices’
As we move to more remote working have ‘good’ and ‘frequent’ meetings will become highly valuable.
US Chamber of Commerce – ‘Top 20 Tips for building business resilience’
- Take a look at this list, not all will apply to you and your business but some will and some will just spur your thinking. Biggest take away is that you need to create a plan of action and, in my opinion, update it frequently, maybe daily in some cases. https://www.uschamberfoundation.org/sites/default/files/media-uploads/3-RiaB_BASIC-Top-20-Tips-for-Biz-Prep-ENG.pdf
Medium – ‘What is flattening the curve and why it is important’
- This is a long one and it’s is a few days old but it is full of data with graphs and gives a good overview including data from China and Europe for better understanding of what could happen in the US’ https://medium.com/@tomaspueyo/coronavirus-act-today-or-people-will-die-f4d3d9cd99ca
Sequoia Capital – ‘A look at the financial implications of COVID-19 from a business perspective’
- Managing the financial health of your business is paramount. This article gives some good insights on how to think about doing this. https://medium.com/sequoia-capital/coronavirus-the-black-swan-of-2020-7c72bdeb9753