|Beyond the Numbers|
|Which Payments Should You Prioritze During a Cash Crunch?|
Prioritizing bills and expenses is crucial when running a small business, even more so during these unprecedented times. What should you be focusing your funds on? Here is a list starting with the most essential:
TaxesPayrollKey Vendors and SuppliersSecured Debts and Debts You Have Personally GuaranteedInsurance PremiumsLarge Bills .vs. Small BillsUtilities and RentCredit Cards and Unsecured Lines of Credit
Click Here to learn more about why these items are prioritized in this order and to find out what the three questions business leaders should be asking themselves are.
|Here are 10 Answers to Key PPP Loan Forgiveness Questions|
SBA has answered several business owners questions regarding the following topics: loan forgiveness, future guidance, and the good faith certification that was made at the time of application for a PPP loan. These topics have a lot of business owners feeling uncertain and concerned. Many questions still remain unanswered, but here are the answers SBA has now!
|8 Things to Keep Your Business Strong|
According to The Hartford these are the 8 things you need to do right now, if you haven’t done them already:
1. Get an SBA Loan2. Get money from your State3. Get money from your City4. Talk with your accountant5. Push your Banker6. Push your Big Vendors7. Educate your People8. Use this Downtime
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|Four Pivots that Companies are Making in 2020:|
Everyone is learning how to pivot their business during these times. Here are four major moves that people are making:
Companies are cutting down on non-essential costsMarketers are budgeting immediate or long-term tactics (postponing or virtualizing events, creating online resources, and adjusting marketing messaging).Companies are focusing on great experiences for current customers (discounted products, services, online courses, adjusting or creating offerings to impacted customers or prospects).Brands are empathizing with clients who need solutions — not pitches.
Here are four startups that used concepts such as: Online Wine Tastings, Digital Art Auctions, Optimization of Sports Training from Home, as well as Inspired Families from Home during Lockdown and it took their businesses from surviving to thriving.
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