Early on in Covid many businesses, of course, worried about the ways that Covid would affect their business. Many made various contingency plans and quite a few adjusted spending (marketing, sales, hiring, etc) in anticipation of Covid’s impact. While in hindsight I think many (in the tech world, I’d probably say most) companies ended up faring better than they expected, some did not and I think even those that ended up being fine were happy that they took the matter seriously and had contingency plans, even if not all of those plans needed to be implemented. As we begin to come out of Covid there’s another kind of business impact that I think is important to anticipate and plan for….
Category
Covid-19
Declaring Victory for The Finance Assistant Network
Back in April, not long after COVID-19 hit, Lew Visscher from Lew’s List, Phil Vottiero from High Plains Advisors, and I launched the Covid-19 Finance Assistance Network (FAN) The network partnered volunteer CFOs with small businesses that were in need of financial guidance on carrying their business through the crisis and navigating the Federal programs from the CARES Act. Recognizing that smaller operations were at a huge disadvantage because they didn’t have access to the legal and financial resources that larger firms do, we wanted to do something to help them. Establishing FAN was a way to provide pro bono support to smaller businesses that were the most vulnerable to the shutdowns happening throughout the country. We had 80 financial…
The Real Story Of America Is About Small
Below is an article I co-authored with Elizabeth MacBride of Times of Entrepreneurship (it was cross posted there on the ToE site yesterday). It’s a good companion piece to the OpEd we wrote for CNBC earlier this week. As many readers know, I’ve been working on a project highlighting entrepreneurs around the county. It’s been amazing to meet so many interesting grassroots entrepreneurs and hear so many compelling stories. I’m happy to be able to start sharing some of those. More details (and on our upcoming book on that subject) soon. Why is America so divided? The loss of small businesses may be one answer. In research for our upcoming book, we found that small business owners often inhabit the…
With the Federal Government Doing Nothing, Communities Step Up
As a follow up to the OpEds we published in CNBC back in April (To save the US economy, policymakers need to understand small business 101 and Stampede for emergency loans is crushing lenders, putting millions of small businesses at risk), Elizabeth MacBride and I published a third piece today, Communities across America rush to save Main Street as federal relief for small business stalls. In it we talk about the continued failure of the federal government to help small businesses and highlight some encouraging ways that local communities have stepped into the void to help. It’s inspiring but not surprising to see people across the US step up to help businesses stay afloat. I’m disappointed that the Senate stepped…
Work Lessons from the Pandemic
I’ve been thinking a lot about what changes in my work I’d like to keep, post-pandemic (can we even talk about a post-pandemic world? It still feels pretty far off). I’m trying to be deliberate and actionable about it. For me that means actually writing down what I’m trying to change and why. It also means trying to dig deeper than top level or cliche ideas (i.e., of course I’d like to travel less; but the deliberate and actionable version of that idea addresses the drivers of my travel – for example board meetings – and specific ways I’d like to change what’s pulling me out of town). In my world, the two biggest things I’ve changed are: Have completely…
Better Zoom Meetings
My partners and I hold weekly Monday meetings and about once a quarter, we do an extended, six or seven-hour version. Before COVID-19, we’d end the day with a dinner and a chance to socialize and decompress after a long day of portfolio updates and strategic planning. And, of course, before COVID we’d all be in person. Our discussions were lively, they were engaged and we’d often make use of whiteboards, sticky notes and other forms of interaction (we have a post card with a logo for each of our portfolio companies which we often make creative use of). They’re fun and super productive. And then COVID hit and our meetings lost their soul (and their fun, and their interest,…
Resume Coaching Resource
If you’re not familiar with Energize Colorado, I’d encourage you to check them out. Energize CO is a volunteer organization working to mitigate the effects of COVID-19 in Colorado. As part of this they just launched a pilot Resume Coaching program geared toward people whose jobs have been affected by COVID-19. This is a free resource utilizing volunteer recruiters from some of Colorado’s best companies and staffing agencies. If you’re interested in learning more, sign up here to schedule a resume coaching session. Energize Colorado is also offering help with business guidance, mental health, procuring PPE, and other resources to help Coloradans navigate the personal and professional hurdles of the pandemic (all listed on their website – check it out)….
Colorado’s State-Wide Mask Order
Yesterday evening, Colorado Governor, Jared Polis, announced a state-wide mask order directing Colorado residents to wear a mask or face covering while in indoor public spaces. Citing the rise in COVID-19 cases in the state, Jared said, “…Masks are the ticket to the Colorado we love and a critical part of supporting Colorado’s economy and prosperity. The best way to support Colorado workers and businesses right now is to wear a mask.” I’m proud of this decision and more broadly the way Gov Polis has handled the pandemic for Colorado. His proactive approach, which is has been a mark of his leadership style, has been tremendously beneficial to our state’s handling of the crisis – both in terms of our…
Vacation in the time of Covid
I’ve written a few times about the importance of taking vacation time and I had the opportunity to take most of the week off a few weeks ago. It was good but not great (and different than I expected). In the past when I’ve gone away on a trip, I’ve been successful at truly unplugging. But there’s no getting away during Covid. I imagine I’m not alone in this but I find that when I’m at home and taking time off it’s difficult to completely disconnect. That was true the other week – I was only able to do a fair job of avoiding work and almost felt guilty about setting an out of office on my email (I nearly…
Functional Versus Strategic Meetings on Zoom
Like a lot of people, I’m stuck on Zoom for most of the day, although I’ve tried to mix in some regular phone call meetings – even when Zoom would be available – just to give me a break from time to time. I’ve found that Zoom works reasonably well for functional meetings and for information sharing / webinar-style meetings. When I say “functional meetings”, I mean executive team meetings, check-ins, and board meetings – ones that are fairly informational and have a relatively set agenda, but likely the kind of meetings that you have on a regular basis (weekly or monthly). However, when I’ve held meetings that were more strategic in nature – such as open-ended planning meetings and…