2/ Act IMMEDIATELY. First, if your business was already faltering, consider SUPER strongly just shutting it down. I kept a small biz alive for 6 years longer than I should have. Biggest mistake I've made in my life. Should have killed it when crash of 2008 hit. >>>
-
Show this thread
-
3/ If you think that you want to keep your business, sit down and do the math. What do your fixed expenses (labor, rent, insurance, etc.) look like? There is a very good chance that you are better off just going on vacation for 1 / 2 / 3 months than keeping the doors open.
2 replies 1 retweet 21 likesShow this thread -
4/ Strongly consider putting it into deep freeze. Call an all hands meeting, tell all the staff that they're laid off, but you'd love to rehire them in 2-3 months. Hang a sign in the window "Shut down for pandemic ; follow us on twitter/ Facebook / etc for news"
2 replies 0 retweets 18 likesShow this thread -
5/ Call your landlord and explain what's going in. Ask him or her for their thoughts. It's not that landlords are human - though they are that - it's that they're savvy small business owners. They WANT the rent ... but they also understand the art of the possible.
1 reply 0 retweets 26 likesShow this thread -
6/ Landlords would rather work with you with maybe a rent reduction, or deferment, or SOMETHING, than have to deal with a small business that may just up and fold and leave them with an empty shopfront in the middle of a collapsing economy.
1 reply 1 retweet 25 likesShow this thread -
7/ From one point of view, you're bloody !@# !@#-ed. From another ... EVERYONE is, and if you act first, and decisively, you're in a better position. Your laid off staff gets unemployment. Your landlord gets insight / knowledge. He gets the opportunity to work with you.
1 reply 1 retweet 25 likesShow this thread -
8/ A mediocre plan executed with determination and vigor IMMEDIATELY beats the hell out of the best plan implemented weeks or months too late. I know, small business owners, that you wish this !@# didn't happen on your watch. But it has. There's only one thing left:
1 reply 1 retweet 31 likesShow this thread -
9/ and that's deciding how YOU are going to react to it. I had a good conversation with
@amelapay the other day about self conception, regarding our identity. Are you a "writer", are you a "small business owner", etc? Do you have that role as an ideal, as a conception?2 replies 0 retweets 17 likesShow this thread -
10/ Make your identity small. http://www.paulgraham.com/identity.html Don't let your mental models ("I am the person who runs a book store") rope you into disastrous decisions that can put you hundreds of thousands of dollars into debt.
3 replies 3 retweets 30 likesShow this thread -
This Tweet is unavailable.
Lol
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.