A year ago, had you asked small business owners what 3 things could put them out of business?, I would have bet a pandemic would not have been on their top 10 let alone their top 50 things. But a lot has changed in just over a year. According to the CFIB (Canadian Federation of Independent Businesses), it is estimated that 1 in 6 small businesses won’t survive because of Covid-19.
I’ve been wanting to golf at a rural course for a number of years now. The reason is that this golf course now sits upon farmland that was once owned by two of my uncles. I had spent a lot of time of these farms as a kid growing up and I had only played the course once many years before and my memory suggested it wasn’t a bad little course.
For many Covid-19 has temporarily changed the way business is done and for others those changes will be permanent. This is both good and bad. The good is that for those that adapt, they will find news ways to do business. The bad is that for those who remain steadfast in their ways, they may not survive. This brings me to today’s topic, discounts.
Covid-19 is creating utter chaos for many small business owners. Fear is taken hold of many owners as they wonder what’s next? No one knows when or if they’ll reopen. Most don’t want to admit out loud what they are secretly thinking-bankruptcy. It’s just too difficult to fathom.
Making any kind of decision while under duress is never a good idea.
What if, you had the chance of starting over? What if you could reboot your business? What would you do differently? Theses are questions that I regularly ask small business owners, especially when I come across those that are struggling, stressed out and unhappy.
The answers I get range from, “I’d hire better people” to “I would not have tried to grow so fast”.
I recently had some time to kill between meetings and I was hungry. So, I decided to go to a local diner. I figured I could use the time to do some writing. One of the reasons I chose this location is that I knew they had free Wi-Fi and I needed to access some information online with my laptop.
After I was seated, order taken, and beverage served, I flipped open my laptop and attempted to connect to the Wi-Fi.… Read More
I’ve been considering this topic for quite some time but wasn’t sure it was worth addressing until a recent trip to New York City.
Having been out to dinner, we returned to our hotel and were waiting for the elevator to make its way to the ground floor. When the door finally slid open there was a young lady getting ready to disembark.… Read More
Technology has been an amazing boon for businesses of every size, but none more so than for small businesses. Having come of age as an entrepreneur through the technology evolution, it’s truly amazing that what once took days by many, is now done in minutes by one person.
The development and ease of use of current technology now allows small businesses to compete with much larger organizations.… Read More
We all know how much work it takes to survive, let alone thrive as an entrepreneur. We have all put in the long hours and have faced disappointments along with the successes that come with the territory. Some days, you’re just freaking awesome. On others, not so much. It just feels like you’re taking one step forward and two steps back.… Read More
Successful entrepreneurs share many things in common. Hard work, focus, belief in themselves, hungry for knowledge and so on. One trait that doesn’t get much mention is the ability to accept and overcome failure. As entrepreneurs, failure can be a daily occurrence, but the worse is when a business fails.
To be sure there is a lot of noise made on social media and from the start-up world about “fail fast”.… Read More