By Chris Brogan
As the world begins to wonder what will happen when this pandemic is finally over and we can explore what it will take to revive the economy, venture capitalist says we need to save Main Street and not bail out banks and hedge funds. Chamath Palihapitiya said in an interview with CNBC that the way back requires a different perspective.
"On Main Street today, people are wiped out. And right now, the wealthy CEOs are not, the boards of directors who had horrible governance are not, hedge funds are not. People are."
You know we don't spend time here at Small Biz Survival pointing the finger or blaming, and we've been with you for years helping rural and small town businesses navigate the world, and that's why this interview might interest you. It’s an important voice telling the nation that your the business is who needs help.
Don't wait for the documents
As with everything, everything that the government intends to do to help your business will not happen quickly enough for most people. It’s up to you to rebuild and get your business going again. Don't wait for the documents at all, but when they are available, don't let your pride keep you from filling out a few forms to get some leeway on the road to recovery. You have worked hard and deserve this money more than the usual people who get bailed out.
Access to the core business
Over the years, you may have added and added and added to your business. Getting out of this pandemic could be a time when people will want more than everything else. Everyone is faced with information overload, choice fatigue and feelings of overall fatigue. Make everything easier by offering your basic service. If you are taxing people, offer it to your tax and monthly / quarterly accounting. That’s it. Do not weigh down other offers. Look at what makes your business important and strengthen it, keep the "extras" and choices to a minimum.
Update your payment methods now
Facilitate the acceptance of payments from different sources, such as PayPal, Venmo, CashApp. While people are struggling to make ends meet, smaller and faster money transfer technologies are being used more. It is worth saving time so that you can be paid in several ways and operate faster than not. Never forget that YouTube offers lots of free videos to guide you through setting up and using any new app that you don't understand yet. It's a lot easier than you think (with a few tips).
When times are tough, we tend to climb and come in. We do not want others to know that we are going through a rough patch. And it's good not to emphasize it too strongly, but rest assured. The whole world is with you this time. Everyone misses a payment here and there. People dig their life savings more often than they want to. You are not alone.
Contact your buyers. If someone has not entered recently and you know how to reach them, do so. Ask if you can help. Offer different arrangements, if possible and if that helps. Don't lower your prices. Everyone must eat. You are not a charity (unless you are). But connect with people and make sure they know you are there to help you. Send mail if you have their email address. Call if you have a number. Keep your customers warm.
You are precious
We have always said it. Urban small businesses and rural businesses are the backbone of what makes this nation work. Don't wait for the cavalry. You are the one who will save your business and you are the one who will put this country back on its feet. Go and get it.