I’ve talked with enough business owners to know most have things they would change. I am not talking about small stuff like plastic silverware versus metal silverware. Most owners I talk with say they have established some “norms” with customers or employees that are hard to change. In today’s environment, customers and employees are expecting
Those changes to your business you want to make – now is the time! Read More »
…and How to Adapt Let’s talk about habits. There is an excellent book for franchisors and small business owners to read to learn about their customers behaviors– The Power of Habit by Charles Duhigg. In the book, Duhigg explains, “Habits emerge because the brain is constantly looking for ways to save effort. In another word,
Three Ways Customers Might Change After COVID-19 Read More »
Businesses and franchisors that successfully emerge from the COVID-19 will need to rely on creativity. As an outsourced CFO, I have been working with franchise concepts and business owners on strategies to come out of the COVID-19 crisis. The ability to be creative and problem solve is the most crucial factor in developing a plan.
Using Creativity and Brainstorming as a Strategy for Recovery Read More »
Though it is still unknown in many places when non-essential businesses will be given the go-ahead to reopen, that doesn’t mean that steps shouldn’t be taken now. If you are a restaurant or essential business, if you are planning on reopening “business as usual,” you will not be meeting expectations of most customers. Most franchisors
Creating a COVID-19 ReOpening Strategy Read More »
As rumblings continue about how the economy will emerge from the COVID-19 crisis, I reached out to Kim Shepheard, President of Shepheard Marketing. Kim and I have been working together for years now. Kim’s a trusted advisor for my franchise, Monkey Bizness. She has been working in the franchise industry for the past five years
Marketing Strategies During COVID-19 Read More »
There have been glimmers of hope this past week. While the country is still embroiled in the COVID-19 crisis, a discussion is starting about when and how we emerge. For a futuristic person like me, this has been a welcomed dialogue. Before diving into specific business strategies, I think it is essential to start putting
Climbing Out – What will it look like after COVID-19? Read More »
The rollout of the Paycheck Protection Program (PPP) could be described in different ways. I have heard from many, and their experiences have been vastly different. Even within franchise systems, owners have had vastly different experiences depending on if they have a banking relationship and who it is with. As we sit here today, there
Thoughts, Frustrations, and Strategies for Week 3 of PPP Read More »
Hopefully most of my readers have been able to successfully participate in the Payroll Protection Program and/or the Economic Injury Disaster Loan Program for the SBA. As those funds start to arrive in the next couple of weeks, it is important to have a plan to use those funds and identify any upcoming shortfalls so
COVID-19 Cash Flow Forecasting Read More »
In my effort to keep franchisors and other small business owners informed about strategies to work through the COVID-19 crisis, I did another video on the Paycheck Protection Program application process. While the process is straight forward, the calculation of payroll costs and full-time employees is critical. This video walks through both of those calculations
Paycheck Protection Program Application Process Read More »
This past week was filled with news stories about Congress debating and eventually passing the Coronavirus Aid, Relief, and Economic Security Act (“CARES”). The details emerging through the news this past week changed daily, which left small business owners somewhat influx. The bill passed on Friday and the final details are now known (for the
The CARES Act for Franchisors Read More »
