Comments on: Three questions to answer about your COVID response

By: Michael O'Daniel

Michael O'Daniel — Wed, 22 Apr 2020 03:25:53 +0000

Also, I’m reading nothing but horror stories about SBA and PPP lending. Perhaps someone has some tips as to how to navigate the process more effectively with the banks or the govt agencies that are originating these loans.

By: Michael O'Daniel

Michael O'Daniel — Tue, 21 Apr 2020 20:47:50 +0000

I would add that one additional benefit of following these steps is that you signal to the rest of the world that you have strong, proactive management and you’re a good place to work; even if you had to make painful cuts along the way, you treated both the employees you kept and those you didn’t with honesty and compassion.

By: Dan Hoefflin

Dan Hoefflin — Tue, 21 Apr 2020 17:39:02 +0000

That’s a great summary at the perfect time. Since we are in uncharted territory, we really don’t know the full down-stream negative affect of the virus. Some are obvious, some are not (AKA oil being negative). Cash will be extremely important. It is a great time to rethink and discard anything unnecessary.

By: Dave Berkus

Dave Berkus — Tue, 21 Apr 2020 16:35:46 +0000

In reply to Harley Kaufman.

Harley,
Although there will be lots of opportunities to develop new products that had no demand before the crisis, existing companies should consider marketing blitzes as soon as business looks like it is returning. Spending on wide marketing will overwhelm the rest of the competition, most of which will be conservative or even barely alive. It is the best way to increase market share with this one-time opportunity.
-Dave

By: Harley Kaufman

Harley Kaufman — Tue, 21 Apr 2020 16:18:27 +0000

Dave–
How ’bout “Are there any new products or initiatives that we can bring to market that are uniquely suited to the post COVID-19 environment? Coming back out of this serious vortex is the time to be intelligently aggressive, not stupidly cautious. Go boldly (but with intelligence and good data) into the abyss and you just may wind up as “The Last Man Standing” with your business opportunities expanding exponentially.