I didn’t understand what the expression “weathering the storm” meant until I started my small business: Mi Casa Su Casa Café & Restaurant in 2007. The first storm I managed to survive was the economic crisis of 2008. As a small and new business owner, I was not prepared for that. I was devastated financially, physically, mentally and spiritually. I was depleted and depressed and on the verge of quitting. However, I didn’t quit, and I survived! You can too!!
We are ALL now faced to weather the storm of COVID 19 “Corona Virus”. Here are some tips on how to weather the storm.
- ACCEPT that this pandemic is beyond your control and the only thing you CAN control is your thoughts, feelings, and actions. To accept doesn’t mean to settle: REMAIN POSITIVE, PRAYERFUL, PROACTIVE AND PAY IT FORWARD!
- TIME MANAGEMENT use your time WISELY!!! You have a lot of time NOW! Make a list of all the things you were too busy to do before, both for your business and home and MAKE IT HAPPEN.
- COMMUNICATE WITH ALL your service providers, lenders, etc. and ask for financial assistance IMMEDIATELY! Every person, every business, every entity no matter how big or small is experiencing financial challenges!! Make the Calls and make the necessary arrangements! REMOVE AUTO PAY if you have to.
- PURCHASE WHAT YOU NEED AND AS YOU NEED! Try to stretch your budget. ANALYZE your business. Analyze what areas of your business can be strengthened, what can be improved and get it done, for example:
- Inventory, products, marketing materials, social media presence, review your website, can you operate business online?, are you still promoting business?, what your operating procedures?, do you have a manual?, do you have an HR department or are you it?, do you have records on all your employees, a filing system, performance evaluation tools for yourself, your employees and your business, analyze it ALL including your Bookkeeping, accounting.
- Check, modify or create a new business plan. Be Creative and Realistic. Think and work S.M.A.R.T. (Homework: research that concept)
- READ, RESEARCH& FIND RESOURCES: Just to name a few: SBA.GOV; SMALL BUSINESS DEVELOPMENT CENTER, LATINO BUSINESS RESOURCE CENTER, GREATER READING CHAMBER ALLIANCE, COMMUNITY FIRST FUND, CENTRO HISPANO, the list goes on. Apply for what you need and follow up.
- REINVENT YOURSELF WITHOUT REINVENTING THE WHEEL! What is other business such as yours doing to survive? Ask other small businesses how they are doing and what they are doing? Can you join forces with other small businesses to collaborate and get through this? Sometimes we need to go back to the basics: Can you Barter? Think and Create WIN-WIN opportunities (7 Habits of Highly Effective People, Stephen Covey- read this book)
- HELP YOURSELF, HELP OTHERS AND BE GRATEFUL! When you get on a plane you are told to put your mask on first! Remember that! When you help yourself first then you are better equipped to help others. And thank God every day for everything and everyone. Keep your head up and be patient and stay faithful. God Got You! WE ARE IN THIS TOGETHER! LIFE IS WHAT YOU MAKE IT!! WEATHER THE STORM AND MAKE THE BEST OF IT!!
by Johanny Cepeda-Freytiz
Contact: johannycepeda@gmail.com