Business Tips

Fear. Stress. Helplessness.

Whether you’re caring for elderly parents or homeschooling your kids, people across the globe are struggling with big emotions during the COVID-19 situation.

How do you lead well in times like these? While daily leadership is essential for your business, crisis moments reveal the quality of your vision like nothing else. And while you may be exhausted or overwhelmed, now is not the time to push pause on your leadership. What are the “next best steps” you can take in this hour of uncertainty?

1. Increase the Frequency of Communication

During hard times, the frequency of communication should go through the roof.

Even if you have bad news, it’s important to acknowledge this ASAP. While you may not have all the details, a prompt announcement can minimize speculation, reassure panicked contacts, and let people know that you are proactively addressing each challenge.

2. Be Authentic

Now, more than ever, people are craving connection.

Since many of your customers and subscribers are working from the kitchen table, this is an important chance to re-tool your communication. Get in touch with your own feeling of isolation and use this to inform your messaging. From email communication to print mailings, review all your messages through the lens of people who are stuck at home. Ditch the corporate-speak and seek a more human tone for your brand, and use this framework to empower empathy while focusing on others’ needs.

3. Break Up the Depressive Mindset

All of us need a break from 24/7 bad news. So, how can you bring positivity in this hour?

Noting the deluge of video-conferencing, Audi of America recently launched a series of specially curated images to serve as a glamorous backdrop in virtual meeting rooms. Now enthusiasts can bring their favorite Audi with them to their next conference call or virtual happy hour, and Audi plans to release new images weekly. Simple pleasures make a big difference in tough moments!

Now, make it personal. How can you sound a note of joy or generosity today? Could you post a funny video, release a helpful blog, highlight hero stories, or offer incentives that benefit customers or people on the front lines?

Or look at your own product mix and ask: “what could I change to help my customers?” Do you have a paid or premium service that you could offer for free to help people get by over the next few months?

4. Sow Seeds of Honor

When you look at your schedule today, things seem rather quiet and eerie.

Companies of all sizes have sent people home, and every distraction has been silenced. While the coronavirus has ushered in strange times for all, good leaders won’t just hunker down. Instead, it’s time to push back with a different spirit.

In an age of mocking and disdain, today is a great day to show respect and gratitude. Whether personally or professionally, use this forced pause to repair a strained relationship, to say thank you, or to serve others. Make that difficult phone call. Donate blood or serve at your local food pantry. Show public or private appreciation for your leaders. And appreciate people who don’t deserve it (despite their inadequacies).

As you honor people, they will honor others. Perhaps this is a chance to shift the atmosphere and proactively build honor into the fabric of your network. As a leader, you WILL set the pace for others.

Connection is the New Currency

Though today’s challenges are extreme, it’s important to remember they’re only temporary.

It may not be easy, but many of us will come out of this stronger. Though it may feel that the waves are continuing to rise, take heart. Prioritize connection, and the uncharted waters can be parted in order to lead you toward a prosperous future and a newfound hope. 

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Business Tips

The coronavirus has rattled the world, and while the health consequences are dire, the economic fallout could be worse.

In just one week, from March 7 to March 14, initial unemployment claims jumped by a third, rising from 211,000 to 281,000. And while we don’t know whether workers have been laid off or furloughed, we do know that lost jobs are bad for families, employers, and the nation.

Job losses translate into increased federal spending and a slower response to unemployment claims, and those businesses that have to hire or train new employees down the road will undoubtedly take a financial hit later. Even if it’s difficult, your business can benefit by keeping employees on payroll and by modifying your business plan.

What might this look like? Here are some options to consider:

Lower Overhead Expenses

 

The most effective response to financial pain is to freeze spending wherever possible.

This may mean holding off on new investments, eliminating projects where costs exceed value, or re-proposing previously rejected cost-savings ideas. Want a more comprehensive guide to cutting costs? Check out this article from the Harvard Business Review.

Consider Alternative Financing

 

While borrowing may not have previously been in your plans, the Small Business Association is working directly with state governors to provide targeted, low-interest loans to companies that have been severely impacted by COVID-19.

The SBA’s Economic Injury Disaster Loan program may provide the vital support you need during this temporary loss of revenue. Other options to consider are family borrowing, hard money loans, or seeking a float loan from a customer or an external “angel investor.”

Liquify Assets or Discount Existing Receivables

 

How can you attain missing funds to pay employees in a crunch?

“Beg, borrow, or sell whatever you need in order to come up with the funds,” says Rod Jorgensen, the director of counseling at the Nevada Small Business Development Center. Whether you sell vehicles, buildings, or equipment, put every option on the table for consideration.

Donald Todrin, founder of the Northhampton, MA-based Second Wind Consultants, says taking as much as a 50 percent hit on your outstanding receivables may also be a wise strategy:

“If I’ve got $25,000 out on the street that I’m owed, I’d slash it down to $10,000 on a promise [that vendors] wire me the money today,” Todrin said. “Pay me half [of what you owe me] and I’ll wipe [the debt] out. And you raise cash instantly and overnight. Now you pay a price for that because that’s your overhead money, but you cover your payroll. You got to play for another day.”

Be Resourceful and Keep Employees in the Loop

 

If you know you are unlikely to make payroll, it’s essential to be honest upfront.

Proactive communication is crucial during a crisis. If finances are tight, tell people up front, starting with the natural hierarchy of company leaders and involving them in the process. Allowing leaders to inform their teams can soften the blow and make it easier to gather feedback.

And be creative. Teams that want to retain employees in extremely tight situations may consider shrinking paychecks across the board or ask the highest paid, top-level staff members to (electively) forgo paychecks for a short time so lower-level employees can still be paid. This spreads out income and grows confidence and unity in your staff.

People First

Though you may not be closing shop, many businesses will experience shortfalls in this season. Creative, sacrificial entrepreneurs will work hard to protect their most valuable asset: people.

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Printing Tips

If you wanted to make a splash at a spring gala, what color would you wear?

If you wanted to be known for your edgy personality, what kind of car would you drive?

Just as your personal appearance creates emotion or impact, your design choices will too. While we often undervalue text in designs, every font has a unique personality and purpose. A little font change can go a long way.

With that in mind, take a look at font psychology and see how using it well can win customers through print!

How Fonts Influence Emotion

What is font psychology?

Font psychology deals with the impact fonts have on the thoughts, emotions, and behaviors of readers. For example, when you use a Bookman Old Style headline, it’s going to carry a very different tone than a Brush Script or a fanciful Curlz font. When you feature Tempus Sans in primary body copy, it will bring a more contemporary vibe than Franklin Gothic. Once you understand the associations a font carries, you’re on your way to using fonts to create the emotional impact you desire.

Fonts contain features like line, weight, size, and orientation. When you see a font, your brain disentangles those components and associates them with characteristics from the real world. For example, italicized fonts mimic movement (like a runner leaping off the starting blocks), and flowing scripts convey creativity (like a dancer spinning across the stage). Fonts mimic visual characteristics from the real world, so if you want to choose an appropriate font, choose one that visually resembles your context.

Keep it Simple with This Font Cheat Sheet

When you think of the vibe you want to convey, what adjectives come to mind? Basic or bold? Gentle or hardcore? Elegant or gritty? Once you’ve identified the tone you want, here is a cheat sheet you can use to craft corresponding messages:

Slab Serif fonts (or “Egyptians”) are perceived as important, bold, impactful, or attention-grabbing. Great slab serifs include Sentinel, Adelle, Clarendon, Linoletter, Archer, and Amasis.

San Serif fonts are perceived as simple, sensible, straightforward, neutral, and easy to read. Popular selections include Apercu, Futura, Avenir, Verdana, and Avant Garde.  

Simple Serif fonts are seen as stable, respectable, timeless, formal, or traditional. Classic serif fonts include Garamond, Times New Roman, Georgia, and Palatino.

Bold or weighty fonts are seen as dominant, commanding, gallant, significant, and reputable. Have fun with bold fonts like Qanelas Soft Typeface, Nevis, Municipal, or Andor.

Condensed or ultrathin fonts carry a professional, forward-thinking, logical, or influential quality. To sharpen your image, try fonts like District thin, Antipasto pro thin, or Cocotte ultralight.

Vintage fonts come across as old school, retro, stylish, and remarkable. Type outside the box with six different Zing Rust fonts and carefree fonts like Palm Canyon Drive, Parker, or Lovelo. 

Script fonts bring a sense of femininity, elegance, connection, and indulgence. Fun script fonts include Allura, Mistral, or the Segoe family.

Decorative fonts are seen as casual, cool, unique, or high-spirited. Stretch the limits with The Bomb, Circus, Cute Notes, Keep on Truckin’, and more!

Mono-spaced fonts can bring a techy, sophisticated, or smart vibe. To sell your credentials, try Courier, Inconsolata, Maison Mono, or BP Mono.

Display fonts bring a chivalrous, quirky, friendly, or eccentric tone. Use fonts like Amadeus, Anudaw, Bearpaw, and Collegiate to make design twice as fun!

Keep Fonts Front and Center

While fonts are sometimes an af ter-thought, text is an integral part of your branding and emotional impact. And many online resources are available to help you find fun, free fonts.

Use your font choices to shape perceptions, streamline messages, and project your intent.

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