Jump-starting resilient and reimagined operations
COVID-19 has created an imperative for companies to reconfigure their operations, and an opportunity to transform them The coronavirus pandemic has radically changed the demand for products and services in every sector while exposing points of weakness and fragility in global supply chains and service networks. At the same time, it has been striking how well and how fast many companies have adapted, achieving new levels of visibility,...
Why you should advertise during a downturn, and how to do it right
The economic fallout from the coronavirus pandemic means most nonessential companies are experiencing furloughs and deep cuts throughout their departments. One strategy to save money may be to cut advertising spending while revenue is down. In fact, ad spending dropped 13% during the 2008 recession. But as tempting as it may be, in the long run, your company will lose ground while others pick up your market share. Consider the Great...
In times of Crisis, Don’t let your Reptile Brain take over
There is something you can’t see that is getting in the way of moving your business forward, even in these unprecedented times. It is hidden from view, but it raises strong emotions in your team that make them resistant to change. Buried deep beneath all that grey matter that deals with creativity, intelligence, collaboration, etc. (the neocortex or ‘human brain’) is a small evolutionary building block of life. Our...
Pricing in a pandemic: Navigating the COVID-19 crisis
Demand is volatile right now, creating a variety of pricing challenges. Companies that focus on long-term value rather than short-term gain are best positioned to meet them Nearly every public- and private-sector leader now facing the prospect of human tragedy shares one top priority: the health and safety of employees, customers, vendors, and their families. Once they have put the necessary measures in place to protect people’s...
Businesses: Think about Tomorrow when hunkering down today
Until recently, the number one concern for many employers was finding and retaining top talent. Today, to fight the novel coronavirus (COVID-19), many of those same companies are being forced to shed workers en masse. If you haven’t yet pared down your workforce or need to do some more trimming, what are your options? How you carry out a workforce reduction — and how you maintain contact after the cutbacks — can either engender...
The Post-Coronavirus Culture
The $64,000 question is what will things look like following the Coronavirus epidemic. More specifically, what will business look like, and how will customers change? Instead of focusing on specific tactics, we should look at how behavior will change and we can look to history to give us some insights. If we examine past generations that have experienced major events in their youth, we can glean a bit of insight as to the next wave of...
Using funds from the Paycheck Protection Program (PPP)
If you were one of the businesses that successfully secured funds from the Paycheck Protection Program (PPP), it is now imperative you utilize those funds appropriately—in terms of timing and usage—in order to qualify for the eligible loan forgiveness. Additionally, you will need to keep the appropriate documentation of expenses to apply for the loan forgiveness, not to mention in the case of an audit. Here we review the type of...
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