One core aspect of scaling your business and maximizing its value, is to create predictable growth. Predictable growth focuses on selling to your core clients and potential clients to build customer loyalty and drive repeat business.
There are concrete steps business owners and cooperatives can take to strengthen their businesses. These spreadsheet templates will help.
As business owners, we know how to run our business and how to deal with “known unknowns”— those events like hurricanes, tornados or snowstorms whose timing is unpredictable but where the response has been effectively built on years of prior service. With COVID-19, we are dealing with an “unknown unknown” and to navigate these events proactively requires solid planning, strong communication and operational adaptability.
The government is recognizing that they need to provide more relief given the current economic conditions. Industry groups are also pushing Congress and the White House to pass a Phase 4 relief program before they go on their August recess. This will potentially provide more relief for distressed industries and individuals.
The Paycheck Protection Program Loan (PPPL) was modified by the Paycheck Protection Program Flexibility Act, which was signed into law on June 5, 2020. Here are the details.
Use this checklist to create a Business Continuity Plan (BCP) that can be adapted as economic, industry and company conditions change.