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Remember when owning a small business was risky but rewarding? Stressful but satisfying? And then COVID-19 hit.
In the midst of a global pandemic, being responsible for your own business—as well as the livelihoods of your employees—very likely seems overwhelming if not completely debilitating. Nobody said entrepreneurship was easy, but certainly nobody predicted this devastating turn of events.
Every day—perhaps every hour—you feel forced to reset your expectations, your goals and your strategy. Will you survive? How long can you support your team? What does your small business look like six months from now, one year from now?
Here are the top four survival tips for small business owners during the COVID-19 pandemic.
1. Embrace this era of uncertainty as an opportunity.
American author John Shedd is known for the phrase, “A ship in harbor is safe, but that is not what ships are built for.” American president Franklin Roosevelt once said, “A smooth sea never made a skilled sailor.”
These are the times in which ingenuity thrives—particularly among entrepreneurs. As EO CEO Carrie Santos observes, “Entrepreneurs do not catch up on news and wonder how they will face the COVID-19 crisis. Entrepreneurs jump in to offer solutions.”
Before you tackle the problems at hand, take time to reflect on your core purpose. Ask yourself: Are there new ways for you to support your goals? Let go of how you operated last week and consider what might make sense in this new reality.
Around the world and across the street, we are seeing examples of entrepreneurs rethinking their process, their product and their way forward:
• Distilleries pivot to make hand sanitizer.
• Health care laboratories innovate, co… Read More
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