How Do I Move Forward?

 

As the world is stuck inside, your brain is working on overdrive. You’re dealing with sudden changes in your business, and you have a lot on your mind.

What’s the right move for my business? How do I decide? What do my employees need?

What do my customers need?

 You have made some hard decisions in the last 2 weeks- no doubt

You’ve had difficult conversations with your employees, your vendors, your bank, some conversations that you thought you would never have.

You have either furloughed, laid off or even terminated. You may have guided your team through the unemployment process and you may be running your business at 20% capacity or none at all.

 The only comfort that you may be feeling is that you are not alone. Everyone is dealing with this whether you are a business owner, manager or a team member.

 The reality is that the coronavirus has sent people to work from home, which means many of us in leadership positions are having to do so from a distance.

 Leading a company remotely is certainly doable and can be highly effective when done in a strategic way.

So today Let’s explore 4 Tips for Leading a Company during Covid that will help you to be a stronger leader, no matter how far you are from your team.

Learn to delegate

Delegation can be a scary thing for business owners, especially if they’re used to shouldering all of the responsibilities in the company. Take some time to learn the strengths and areas of improvement of your team members and allocate work to them accordingly. Once you start to let go, you’ll realize that most people are more than capable of picking up the reins and achieving success.

NEXT, Elect a second-in-command

It shouldn’t become an “every person for themselves” type of situation in your office. Choose an employee that you’re confident will step up and make sure the wheels don’t come off. Pick carefully; you want an employee that has shown you that they can and will step up to the plate when called upon. Not only will this person assist, but they will also be your main point of contact while you are busy dealing with insurance companies, vendors, banks, and the SBA.

Create open channels of communication

Just because you’re not physically present doesn’t mean you can put your head in the sand and disappear. Your team still needs you, don’t forget their world has turned upside down as well. Many are with children, homeschooling, taking care of relatives and just the uncertainty of what’s happening all around them.  So make a point to connect with them as much as possible. This could mean setting aside an hour or two for status meetings every day or it might mean using an app like Slack and Zoom to keep communication lines open in funneling the most important messages to them.

Be transparent

Assure them that you’re still overseeing the business, explain what actions you’re taking. They are watching the news- they see what’s happening, so hear out their questions and ease their worries as needed.

Leadership is not an inherent talent; it’s a skill, which means it can be honed and developed with practice. When leading a company remotely, communication is the name of the game — stay connected, remain transparent, and always be prepared to step up when needed most.

 

 

 

 

Yet, We Will Come Back

We all know right now that we are living through something historic. Something that literally came out of thin air- I realize that this has affected everyone in every industry around the world but I am only addressing the small to medium size businesses in the events industry.

We are trying to take care of our families, hold on to our businesses, console our employees and just trying to make sense of what is happening. Let’s look back in history and remember those early days of the 1980s where everything was in abundance the big & showy events and then we remember 1993’s recession where events were tightening budgets, lowering guest counts or not even having the events.. yet we came back. Then September 11 with the country under attack- The nation was paralyzed. American business stood still for almost a week, yet we came back. Then 2008 market crash Events- came to a halt- how could anybody celebrate when they were forced to lay off employees, slash spending The financial crisis in 2008 hit small businesses hard – in fact, harder than large firms. Many small businesses tried to find new ways to survive yet we came back Most of us never experienced a time when the doors of our businesses just closed - when there was absolutely no business. you walk the halls of your office ,your commissary , your studio, your warehouse where just weeks ago it was a hustling thriving business and now there is silence.

BUT.. We’ve been here before. History offers some important lessons on how we can deal with the coronavirus pandemic, about a decade ago the H 1 N 1 swine flu killed more than 12,000 Americans and hospitalized more than 274,000 in the US, The 1968 flu pandemic estimated number of deaths was 1 million worldwide and about 100,000 in the United States and the most severe pandemic in modern history happened in 1918 when the flu infected about 1/3 of the worlds population and killed an estimated 675,000 people in the US alone. If we look back in history and we remember those of us who lived in days of the 1993 recession, September 11th, 2008 market crash, we did not know how it was going to end and there was enormous anxiety and yet history tells us that each one of those situations we came through and we really did emerge stronger than ever before, history provides solace in perspective.

Small business owners have to make tough choices The coronavirus outbreak has global health consequences, and it puts many small businesses at economic risk. If your business is struggling financially due to the coronavirus, I found some resources that can help. The U.S. Chamber of Commerce put together this toolkit to help businesses and citizens alike understand how to navigate the coronavirus. There are guidelines on how small business owners can ensure they are keeping their customers and employees safe. The toolkit also includes a business checklist. This checklist can help you figure out what to prioritize and to create a plan of communication for your employees. Everyone is facing this crisis together, so be transparent about what your business is going through. Customers can empathize with brands facing a crisis, as long as you communicate with them properly.

The SBA announced it would offer disaster assistance loans for up to $2 million for small businesses affected by the coronavirus. These low-interest loans are available to businesses that have sustained “substantial economic injury” due to the spread of the coronavirus. These loans can be used to pay off outstanding debts, payroll and any other bills they are unable to pay. However, small businesses that have access to credit are not eligible. Small businesses with no available credit qualify for an interest rate of 3.75%, and nonprofits will have an interest rate of 2.75%. The SBA’s Office of Disaster Assistance will coordinate with state governors that submit relief requests. Once a state or territory is approved, these affected businesses will receive more information. You can find a regularly updated list of states where disaster assistance is being offered here. Even if your state is not yet offering disaster assistance you can begin to prepare to apply by looking over the information required.

Facebook said it would launch a $100 million program consisting of grants in an effort to help small businesses amid the coronavirus pandemic sweeping the globe.

For small business owners, running our companies can be all-encompassing. entrepreneurial ventures target high returns with an equally high level of uncertainty and this is one of those times.

I don’t have the answers- I’m living this right along with you. If you need to talk or just vent- I’m here for you- meryl@merylsnow.com

Give your holiday sales marketing a new recipe

As fall approaches you have a small window to catch your breath for a few brief moments—and then jump right back in. That’s right—it’s time to promote your holiday sales!
In order to stand out from the others you need to show that you are different. As business owners we can’t just expect revenue to flow our way; we need to compete for the business and prove that we are the best choice for our clients. Following are some tips that will help you stand out from the crowd.

Update your database
You may have thousands of email and postal addresses, but if they are not current your mail outs will fail. Spend some time adding your new clients to your database and updating corporate contacts that may have moved on. (Another thought is to stay connected to individuals who leave your corporate accounts so you are on their minds when they start at their new positions.)

The newsletter no-no
Your newsletter is not the space to promote your holiday events, offerings, and promotions—these beneficial holiday offers may get lost in your newsletter and also dilute your message. Consider a dedicated brochure or mail out in order grab attention.

Tell a story
Your marketing pieces may get some traction if they tell an engaging story—this works well with postcard mailings and social media campaigns. Each ad you create should tell a story or have a theme. Consider creating characters, as this will this leave the audience wanting to know what happens next. (For my company we produced a flutter of children cooking to promote house parties, along with a tag line.)

Cyber Monday
If you do a good amount of online business make sure that you take advantage of Cyber Monday. Consider running ‘limited time’ specials, or a promotion in which your clients receive a bonus, gift, or discount if they book within a certain time frame.

Decorate for success
You probably decorate your office for the holidays, and so why not decorate your website? Create landing pages with specials, menus, tips, and recipes and spread these to your social media platforms.

Spread some cheer on social media
Your social media platforms are a great way to spread holiday cheer. Be careful not to bore your followers by pushing your product, repeating terms like ‘book now,’ ‘taking reservations,’ and ‘still have some availability.’ These terms are sure to prevent any possibility for sharing—no one wants to repost a sales-forward link. Instead, post genuinely interesting and valuable information and your followers will reciprocate.

Additionally, paid advertising can be a great way to attract new clients and reach different audiences. Why not use this holiday season as a chance to try a Facebook ad campaign?

It’s not always about price
Don’t worry if your closest competitors are offering lower prices. Studies have shown that clients do not always make their pick based on price; they want the best that they can afford, and are often willing to stretch a budget to get what they want. Become what they want, and show them why you are different.

“Santa in the Clouds” martini from Feastivities Events

Up-sell
This one is my favorite!
Spend this small window of downtime to come up with some creative event additions. It could be as simple as a signature cocktail with a fun seasonal name (Santa in the Clouds; Mistletoe Martini; Claus Cosmopolitan; Grinch Nog—just let your imagination take over), or adding lighting to enhance the drama and transform the space. You can easily add 20 to 30 percent in revenue without taking on any more events. There is nothing to lose—you have already booked the event.

Above all, remember to let your own unique personality and your company’s valuable benefits shine through. Here’s to a happy, healthy, and busy holiday season in the catering industry!

MERYL'S BOOK RELEASED!