8 Things you can do RIGHT NOW to run your business during COVID-19

Hey there! My name is Gina Nguyen, the mind behind the damngina.co Blog and co-owner of a local paint and sip studio located in Round Rock, TX. I come from a family of entrepreneurs and just started my entrepreneurial journey almost 3 years ago!

I’ve helped my parents run their businesses and have worked with them since I was 9 years old! They have owned a ton of different businesses-liquor stores, gas stations, grocery stores, restaurants, a clothing manufacturing facility, nail ships, and a frozen yogurt shop. They have a pretty diverse portfolio. I’ve helped them with mostly every single business and have learned so much from their experience and have applied it to my own experience.

Being an entrepreneur is NOT for the faint of heart. You’ll experience 30 different kinds of emotions every day and your journey will force you into your own personal growth journey as well. To be an entrepreneur means knowing yourself and digging down deep to realize your strengths and faults. You must be disciplined, have grit, and have the willingness to learn.

With all of this experience, I’ve compiled a short list of things you need to do immediately to keep your business running during this global pandemic.

Plan, don’t panic. – Just BREATHE 

Find Strategic Partners – Strategic partners are other businesses who share your same clientele, but are not competitors. Work with your strategic partners to see how you can work off their client list. Also give back to your partners as well.

ASK – Ask for help! Ask your clients what they want to see! Don’t make blind guesses and spend precious time on strategies that your clients don’t want.

Communicate – It’s best to OVER-communicate at this time. Communicate with your partners, staff, vendors, past/present/and future clients how you are pivoting during this time. Touch base with them on a very regular basis. Provide more information than they need and keep everyone in the loop.

Create a 90 day crisis plan – We don’t know how long this is going to last, so even if the crisis lasts 60 days, you won’t have to worry about the remaining 30 days. It’s so important to figure out all your systems before implementing your new plan. Figure out logistics and back end items before committing to a strategy.

Cut Costs – Renegotiate interest rates on loans and credit cards. Renegotiate contract terms on utilities. Connect with your landlord to see if there is any assistance with rent during this time.

Extend Credit – Apply for government assistance, loans, unemployment, whatever you need to stay afloat during this time. This is a time for survival, not pride. 

Working from Home – Create a normal working area from home. Create a routine and stick with it to give yourself a sense of normality amid all the chaos. 

Changing your Services/Deliverables – How are you going to move virtual?? Every single business is now offering virtual services in the meantime. How do you transfer your goods and services online? If you have a physical product and no website, now is the time to do that!

Changing your Services/Deliverables – How are you going to move virtual?? Every single business is now offering virtual services in the meantime. How do you transfer your goods and services online? If you have a physical product and no website, now is the time to do that!

These are all just mere examples and I know this won’t apply to every single industry. But at a time of a global disaster, we cannot just pause. We need to continue our businesses and come out stronger than ever before. Some of these new strategies might even be another service you add on when things return back to “normal.”

Gina Nguyen

IG @damngina.co

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