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March 19 Business Update - COVID-19

We are in a swiftly changing business environment with the COVID-19

pandemic. As of today, we have 28 positive cases in New Mexico, and unfortunately, that number is destined to rise in the coming days.  Absolutely all of us have already been affected in some way, whether that's adjusting your business hours, instituting health and safety precautions, or closing your doors completely until this situation is over.

In these moments, I know you are unsure of what to do next. As a former business owner myself and marketing professional, I have been thinking about what I would do in order to take care of customers, keep employees safe, make payroll and overhead expenses, and weather this time period to come out on the other side in a good financial position. This is not the time to be paralyzed and do nothing or have a "wait and see" attitude. This is a time to take action and be ready to go full steam ahead when business is back to normal! Here are some questions to get you and your management teams talking about ways to thrive: 1.   Can I turn my business to an online focus by creating an interactive community and educational product videos? 2. Is my website (and telephone system) currently up-to-date with current hours, information on Coronavirus and my business, and ways to contact us during this time?  (I've checked out many of my favorite local eateries, and their websites have no current information. Update, update, update!) 3.  What information can we share on social media or via our newsletter so clients know we are still here for them? 4.  Can employees and management call customers, not to sell anything, but to reach out to see if they need assistance. This can keep employees on the job, even if working remotely, and create goodwill to your client base. Have a list of resources available such as food banks, medical facilities, help lines, support groups, etc. and share these on social media as well. 5.  Can I do any direct mail offers and specials that help generate business now (online or phone orders) or when we are back to 100% operation? 6. Are we overstocked on certain types of inventory that we can discount to create cash flow? And as owners, what programs can I access to get a bridge loan while little to no income may be coming in?  This one question is probably the most frightening and stressful to you at this moment. That's why I've put together an updated list of resources below so you can access these services quickly. There are numerous ways to access funding and I encourage you to investigate your options.

Stay Safe & Positive!

Latest news & information and links to valuable resources MONDAY 3-18-2020New Orders from the Governor NM LOAN GUARANTEE PROGRAM: CLICK HERE SBA DISASTER LOAN PROGRAM CLICK HERE US CHAMBER OF COMMERCE:  This article that can help small businesses better prepare for what is ahead:   CLICK HERE DOWNLOADABLE RESOURCES Released by the Albuquerque Economic Development Department, here is a resource for business aid.   CLICK HERE Small Business Guide - CLICK HERE For best practices to minimize your risk of illness, and for up-to-date information about COVID-19, please visit the following sources: Centers for Disease Control & Prevention World Health Organization New Mexico Department of Health

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