Coronavirus Crisis: Four Ways Small Business Can Survive the Threat

Stop Stressing!

The sudden outbreak and rapid spread of coronavirus across countries has thrown the world into a frenzy. Our businesses are being put to the test.

Most business owners are seeing an immediate impact on their business. Smaller businesses, are in a holding pattern. As a small business owner during the coronavirus pandemic you now face the true test of being able to operate and adapt to a rapidly changing situation.

While future developments are still unclear, businesses have to take a proactive approach to disaster response right now. No matter what products or services you offer or what industry you are in, your business will have financial ups and downs at some point. As a small business owner during the coronavirus pandemic you now face the true test of being able to operate and adapt to a rapidly changing situation.

The most important thing is: not to panic

Reach out to your banker for help. Look at this as a way to weather the downturn and also position your business for greater profitability in the future and or look to change how you do business.

Here are my suggestions:

Be quick and flexible: Whether it is utilizing technology to connect with clients as an alternative or reworking your employee reporting plan, it is critical to be flexible in order to operate your business. At JMD Systemics, we are encouraging solutions such as video conferencing and going online.

Come up with creative solutions: Does much of your business depend on face to face encounters or transactions? Consider alternatives based on the materials and talent that you have. Go online, go on Skype with customers and have them call in an order, offer curbside pickup or free shipping.

Differentiate your business from the competition: Use this downtime to understand your biggest competitors. Learn from their strengths and weaknesses. Poll your customers and learn what their needs are given the uncertain environment. Then consider how you can meet their needs.

Check your cash flow: Any good small business owner should be projecting cash requirements three to six months ahead. Could the uncertainty of coronavirus result in a liquidity issue for you? Make sure your spending and accounts receivable are in line.  Have proactive conversations with your bank to determine a short-term solution.

Hopefully, these uncertain times will pass sooner rather than later. No one is saying these times are easy, but preparedness is the key to continued success and, JMD Systemics is here to help you.

Michel Ouellette, ll.l, ll.m
Business Growth Strategist

JMD Systemics
Systemic Strategic Planning / Crisis & Reputation Management
Skype:jmdlive

 

Michel Ouellette /  Joseph Michael Dennis, is a former attorney, a Trial Scientist, a Crisis & Reputation Management Expert, a Public Affairs & Corporate Communications Specialist, a Warrior for Common Sense and Free Speech.

JMD Systemics is here to help.

Book Your “FREE” Covid-19 Online Consultation Now

 

Surviving The COVID-19 Crisis and Its Aftermath

Is the Coronavirus Killing Off Cash?

Tech firms see the opportunity they have been waiting for as shoppers and business recoil from paper money. Who’s hurt when legal tender goes away?

From the beginning of the Coronavirus outbreak, stores and businesses were shuttering all over the World and many of those that were still open were balking at cash. Shoppers were switching orders to Amazon and Walmart.com. Many stores and businesses that have stayed open would not take cash requiring customers to pay either by debit or credit cards or paying first online. What once seemed like the oldest, most reliable way of paying suddenly seems a thing of the past.

The Coronavirus crisis drove businesses and people to prefer credit and debit payments to cash; a shift that is here to last. Digital payments are quick, clean and easy and that shift is now representing a huge opportunity for all retail and services businesses around the world. People did learn from their Coronavirus experience and, for many, this means no longer walking in a store or and office.

For years, I have been pushing toward a more virtual, less cash-based business and payments system, and pressing businesses and business owners to go online to free them from the uncertainty of being paid for their products or services and increase their sales and cash flow tenfold. The Coronavirus crisis is now providing me with one more argument to justify that business model: Due to the coronavirus crisis, people that resisted to shop online are now realizing how easy, economical and efficient it could be.

The only people I know that would not benefit from such a transition are the older and poorer people that tend to be more reliant on paper money either for lack of tech savvy, out of habit or because they do not participate in the formal banking system, the poorer and vulnerable people that do not have access to banks or credit cards.

You want to help these people!

For the duration of the pandemic, give them your products and provide them with your services free of charge. Donate to them directly, personally, the same way you donate to your preferred church or charity. This is good business. These people will be very grateful and let other people know about what you have done for them. Just do not forget to deduct these “promotional expenses” from your taxable income.

Some other people will still resist going online or using their credit card because they think that how they spend their money is nobody’s business, especially the taxation officer. Just take their money and put it in your left pocket. This is still good business. Just do not provide them with a receipt.

Money habits can be hard to break

The Covid-19 pandemic, has forced every one of us to change our spending habits almost overnight. It took years for ATMs to replace visits to human bank tellers. Now this is common ground. After resisting the move for years, many businesses started accepting credit cards and online payments either through their website or bank transfer. This shift in behavior is here to stay and for most businesses, it is now the right time to integrate in their business model infrastructure to support mobile banking and digital payments.

For others, the Coronavirus crisis is the rightful and legitimate occasion to turn their operations and business into fully cashless environments, that kind of economy, that long-held dream that I have been promoting for years. It is much, much faster to send money via the internet than to mail a check. It is much, much faster to get paid via the internet than waiting for the check in the mail.

For the duration of the Coronavirus crisis and its aftermath, I am here to help. Tell me how the pandemic impacted your business and lets see what we can do about it.

Meantime. stay safe.

JMD

Michel Ouellette, ll.l, ll.m

Business Growth Strategist

JMD Systemics

Systemic Strategic Planning / Crisis & Reputation Management

Skype: jmdlive

Web: http://www.jmdsystemics.com

JMD Systemics Is Here To Help

Ask for your Covid-19 “FREE” 30 Minutes Consultation Now

CORONAVIRUS INSIGHTS & UPDATES, APRIL 27, 2020

In the interests of public health and safety, our coronavirus news articles and this newsletter are free for anyone to access. If you are already a subscriber, thank you for your support. – JMD

April 27, 2020

Unprecedented restrictions on businesses due to the coronavirus pandemic have resulted in a record 26.5 million Americans filing for unemployment benefits since mid-March. The White House sees this month’s jobless rate hitting 16 per cent or higher.

In Canada, at least 46,644 cases have been reported, more than double the number from 16 days ago. There have been 17,243 recoveries and 2,560 deaths. Health officials have administered 729,744 tests.

Around the world: 2,948,654 cases confirmed with 860,762 recoveries and 205,610 deaths reported.

As financial institutions emerge from several intense weeks of launching emergency relief programs, a realization is growing that businesses will need less burdensome, more patient forms of funding to stay afloat.

JMD

Michel Ouellette, ll.l, ll.m

Business Growth Strategist

JMD Systemics

Systemic Strategic Planning / Crisis & Reputation Management

Skype: jmdlive

Web: http://www.jmdsystemics.com

JMD Systemics Is Here To Help

Ask for your “FREE” 30 Minutes Consultation Now

Here Comes JMD Systemics

If you are not online, you are not making any money, you are losing money.

Here comes JMD Systemics

Inexpensive Covid-19 Resources You Can Access Right Now

Hello everyone,

In a race to save their companies, small business owners have been and, for most of them, are still struggling to stay afloat while trying to navigate a complex maze of governmental assistance programs and figure out their legal options. Many have had and still have to do it all on their own because they could not and still cannot afford the costs of expensive lawyers, accountants and business consultants.

For most of them, like many of you, they were and still are facing a “Cash Crunch” while running after their money, waiting on payments for jobs completed, services provided and, products sold and delivered before the coronavirus shutdown of their business.

For those of you facing this situation, here comes JMD Systemics, in these days of pandemic, dedicated to providing professional inexpensive sustainable business services and alternatives to small businesses.

My mission is to provide all small business owners like you, at low cost, with all the necessary assistance required to successfully face and survive this Coronavirus business disturbance historical and unforeseen period.

For all the duration of the Covid-19 pandemic and its aftermath, what I am offering you is: a “25% REDUCTION” on all My Business Services and a “FREE” 30 Covid-19 Minutes Online Consultation.

My name is Michel, Michel Ouellette JMD

What I am offering you is all my professional expertise at a very low cost.

As a Business Growth Strategist, a Former Attorney and Trial Scientist, a Crisis & Reputation Management Expert, a Public Affairs & Corporate Communications Specialist, a Warrior for Common Sense and Free Speech, for the duration of the Covid-19 pandemic, I am offering you unlimited access to all my expertise and professional resources at a price you can afford.

While I know that like for most other small business owners and entrepreneurs that I am now helping, that what you need most right now is “Cash”. I also know that like for many of my actual clients and business partners you may not know when that money will come.

And, this is where and how I can help you

My JMD Covid-19 Business Assistance Program, is designed and aiming primarily at very small businesses, these businesses with 100 employees or less.

Only businesses with 100 or fewer employees qualify

If you qualify and are seeking help and immediate assistance, go to My Covid-19 “FREE” Consultation Web Page and tell me what are your most pressing coronavirus-related issues and concerns so I can adequately assess, identify and address your most immediate needs before our initial online meeting.

Time is money and I would not want to waste your time or mine.

This being done, I will contact you to find out what would be, for you, the most convenient time to meet online and schedule our meeting accordingly.

During this first virtual COVID-19 “FREE” Consultation, I will be asking you more questions to determine what would be your best options and to find out who, on my team, has expertise in those areas where you need assistance.

While my Covid-19 Small Business Assistance Program may not be able to fulfill every small business requests, my hope is to help as many entrepreneurs and small business owners as possible survive the Coronavirus pandemic and thrive.

Talk to you soon

Meantime, Stay Safe.

Michel Ouellette, ll.l, ll.m

Business Growth Strategist

JMD Systemics

Systemic Strategic Planning / Crisis & Reputation Management

Skype: jmdlive

Web: http://www.jmdsystemics.com

Ask for your “FREE” 30 Minutes Consultation Now