EP165 How Entrepreneurs Are Adapting to the Pandemic

As October is nearing its end, we must take these last few days to celebrate the small businesses in our community. Last week, BDC held a series of special events and kicked off the week with the release of their study, “The Response: How Entrepreneurs Are Adapting to the Pandemic.” 

In this episode, I will be reviewing the findings of this report, which focus on how entrepreneurs are navigating this evolving, uncertain situation. You’ll learn how they are responding by implementing five business priorities to help them succeed.

“I am currently investing in technology to facilitate better systems and processes that, coupled with online sales, will stimulate growth in my business.” – Tracey Bissett

This Week on Young Money:

• How many Canadian entrepreneurs are confident that they will make it through the crisis.
• The percentage of consumers that have made more online purchases since the crisis began.
• Which SMEs plan to make changes to their business practices.
• Why it’s important to keep a close eye on cash flow, including a weekly cash flow forecast.

Key takeaways:

1. Keep your eyes on your cash flow.
2. Adapt your management practices for teleworking. 
3. Choose an e-commerce strategy that suits your business model.
4. Listen to your customers to plan your growth.
5. Plan your technology investments. 

Resources Mentioned:

BDC Study – The Response October 2020

Biz Money Mistakes Masterclass – Top 3 Mistakes to Avoid and How to Take Control of Your Business, 

This training has been specifically designed for entrepreneurs with sales in the 6 to 7 figure range who want to proactively change the way they are handling their money matters and navigate the current environment with success. 

If you are an entrepreneur with sales at these levels and want to make informed, powerful money decisions, you do not want to miss this important masterclass. 

In this short, impactful training I will teach you:

1. Your role as Business Owner
2. The Top 3 Biz Money Mistakes &
3. How to Start New Routines that will Support your Business into the Future 

Stop waiting for things to change; take control of your business and join me for the Biz Money Mistakes Masterclass.

Click here to register now.

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