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Entrepreneurship in Time of Crisis

Entrepreneurship is hard enough. In the best of times, it can feel like skydiving without a parachute. With continued lockdowns, economic uncertainty, and the news about the COVID-19 pandemic changing every day, you’re probably living through one of history’s greatest challenges.

As an entrepreneur myself, I’m trying to balance running my business with taking care of my family during these difficult times. I’m here to tell you that I feel your pain, and as fellow entrepreneurs, we’re all in this together.

Every business in this country is being put to the test, and there’s a good chance you feel a loss of direction right now. I have always believed that with fierce challenges come even fiercer opportunities. Are we going to get to the other side of this? Yes, we will, but not without digging down deep. What will it take?

Entrepreneurship is challenging even in the best of times. 

1. Work harder

Even quarantined at home, taking care of kids, preparing meals, and keeping the house in order, you can must find some time to focus your energy on your business.

The spirit of entrepreneurship will move you forward. Most of us have likely experienced a decline in business. When the going gets rough,the tough do not back down and give up. When your business rebounds, you’re going to find that you can reach new heights if you continue to drive forward at this time.

For some small businesses, they have revamped and adapted to the post COVID-19 world and business has survived and may be thriving. At a time where restrictions are lifting in most states, it will take a team effort and to effectively manage your staff, you need to lead by example. Get in the trenches, shoulder to shoulder-with your employees!

2. Communication, now more than ever

Talk to your employees, clients, and customers. Strong leadership is the core of entrepreneurship and brings us comfort. Step up and be one of those leaders, opening your heart and your mind to those that rely on you. Give them a sense of direction and purpose now, and they’re going to be more devoted to you than ever before. Stay positive and resilient and inspire confidence.

Effective use of social media is pivotal at this time. Make sure your clients and customers know where you are in your day to day operations. Encourage your employees to take an active role in promoting your business. Take pictures throughout the day and share them on your social media. Let your clients and customers see the human side of your business.

3. Passion

Entrepreneurship is about passion. Passion is what gave them the courage to turn their dream into their business and right now, make it deeper, fiercer, and more focused. this is a great time to breathe new life into your business.. This time can either be a black hole for your business or it can be an incubation period—the choice is yours.

You worked hard to get to where you were before COVID-19 and if you’re reading this, you survived the virus. Put that same fight into your business like you did when you started and you will win!

4. Know what you can and can’t control

Even now, you’ll find that there are a lot of aspects of your business that you can control. What are those things you’ve put off because you never had the time for them? Maybe it’s putting some new systems in place,updating your website, or asking employees to take online training courses to improve their skills. These are all things that you can control.

5. Plan for the new business landscape

Whether you’re selling goods or services, what are people going to be buying, when most businesses come back, the consumer market will have changed. It’s going to be a remarkable time for innovation and if you start to brainstorm now, you’ll be ahead of the game. Entrepreneurship warrants your ability to see ahead.

6. Compassion

It’s scary out there right now—there’s no denying it. If you have an email list, or a social media account, now is the time to put out quality content that shows you care. Say something meaningful and don’t step back and disappear. It’s time to speak up consistently and with a compassionate tone.

7. Don’t throw the towel in

It sounds corny but it’s the absolute truth. Entrepreneurs can not only survive this time, but they can also become better versions of themselves. There might be days when you think you’re going to go insane. Breathe, center yourself, and stay healthy. Keep learning, growing, and innovating, and you will be one of the greatest badass entrepreneurs out there. our staff are here to answer your questions and help you formulate a plan and obtain the financing you need to execute it. CALL or APPLY now

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