COVID-19 Resources
Consultant’s Corner: Feasibility Studies
Q: As an entrepreneur, I often have new ideas for business opportunities. What is the best way to evaluate my ideas before developing a formal business plan? In previous weeks we have discussed financial relief opportunities for small businesses, marketing and business planning measures, and changing consumer behaviors or expectations. Amid the Coronavirus (COVID-19) pandemic…
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How Covid-19 Will Impact Human Capital Trends
We’ve all seen how Covid-19 has impacted businesses in the past few months. Millions of people have lost their jobs. Many more are furloughed. Still more are working from home, struggling to figure out a new normal. But what will the impact of the pandemic be on the labor market in the medium- and long-term?…
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Protecting Financial Information When Working from Home
With so many employees working from home, and using personal computers and new applications and tools to complete their work, there are also new opportunities for hackers and fraudsters to attempt to gain access to business’s data and financial information. There has actually been an increase in phishing scams, attempting to trick employees into giving…
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Consultant’s Corner: Changes to Consumer Behavior
Q – As a small business owner, how can I adapt or appeal to changes in consumer behavior spurred by the pandemic? In last week’s post, we began our discussion of changing consumer expectations by introducing the idea of 4 categories of consumer sentiment post restrictive orders. The question becomes, how can a small business…
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How Will Covid-19 Change Work?
Covid-19 has dramatically impacted every business in 2020. But even as businesses look to reopen and return to something like normal, what goes for “normal” has changed. The labor market is in a completely different place from a few months ago, and employers will need to engage with employees in new ways. ADP is hosting…
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Consultant’s Corner: Changing Customer Expectations
Q: As a small business owner, what can I anticipate about consumer behavior as restrictive orders across the country are lifted? Previously, we discussed reevaluating and revising marketing plans. In doing so, questions may arise regarding a business’s target market, and how consumers’ spending habits may have been impacted by the Coronavirus (COVID-19) pandemic. The…
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Survey: Growing Optimism Amid Challenges
As we go through a third month of social distancing and business closings due to Covid-19, we’re back with a third survey of small and medium-sized businesses to see what the biggest challenges are, and the outlook for the future. This survey, completed at the beginning of May, found that more businesses are either preparing…
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How to Come Back Stronger Than Ever
I’m a naturally optimistic person, and a lot of that goes to some early experiences in my life. It’s led me to believe that we’re going to be stronger than ever after the current crisis ends. But that will require having the right attitude and approach, working on ways to improve and grow. Lots of…
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Short-Term Compensation Programs
With so many businesses struggling during the Covid-19 crisis, business owners are looking for every solution possible to keep their workforce together and business running. One solution available in many states is called Short-Term Compensation, or shared work programs. Workers have reduced hours but stay on the payroll, while government funding supplements the employees’ pay…
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Consultant’s Corner: Reevaluating Your Marketing After Covid-19
Q: As a small business owner preparing to re-open what should I be doing to evaluate and prepare past and future marketing activities? In last week’s post, we discussed researching CDC guidelines for business in relation to COVID-19 and the importance of implementing corresponding policies and procedures. Just as COVID-19 has elevated health and safety,…
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