Amazon Seller News and Priorities
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Update: What's happening - all previously planned travel is off. Let's help Flatten the Curve! Don't be part of the problem.
Events this week -->
Empowery sent a FREE guide from the Business Practice to it's members, but you can get one for FREE too. - empowery.com/contact - just ask for the Business Practice CoronaVirus Planning Guide by Michael Shinnick
Here are some of the key areas to consider during this crisis:
1 - Focus On Cash
From a business perspective this is critical. Bring the business back to its basic element. Is it
generating cash or burning it? More especially which investments in the business are generating or
2 - Get Finance In Place Now
1 - Focus On Cash
From a business perspective this is critical. Bring the business back to its basic element. Is it generating cash or burning it? More especially which investments in the business are generating or burning cash?
The old adage of ‘Cash is King’ is so very true and especially so in uncertain times. There has already been positive measures announced by the Irish banks and Government this week aimed to help Irish businesses affected by the impending crisis. Italy, the USA, and a number of other countries have announced similar measures.
3 – Plan To Work From Home
This is not always possible for every business nor for every role in a business but it is prudent with this virus to at least trim down the number of people in the office/building etc.
This may not be necessary and it is fairly obvious that certain sectors (like travel, hospitality etc) are suffering the most right now and may need to look at some or all of these measures. Others may not need to go here at all but I am including them for completeness sake. Let’s be honest the biggest single cost on most businesses Profit & Loss account is wages/salaries.
5 – Communication
It is important for those in leadership roles to convey a sense of calm and exude the confidence that they have matters in hand, so as to avoid unnecessary panic.
6 – Keep Marketing & Selling
“For a business not to advertise is like winking at a girl in the dark. You know what you are doing but no one else does” – Stuartt H. Britt
7 – Double Down On Your Existing Customers
Remember “a bird in the hand is worth two in the bush." Your current customers are the opportunity to make more sales without incurring the costs of finding a new customer
Panic and worry never helps
Look for small wins every hour/day
Sometimes less news is a good idea – turn it off
......Take a chill Pill!!!!
Relax, this is very likely very temporary ...
..so plan, Don’t panic
9 – And ..... Finally ......Take a chill Pill!!!!
Relax, this is very likely very temporary ... ..so plan, Don’t panic
Think about the big picture and don't be part of the problem.
https://awesomers.com/podcast - for full show directory.
Consider these resources to help your business:
www.empowery.com - the non-profit member-owned co-op
www.catalyst88.com - the eCommerce focused global mastermind
www.stevensimonson.com - learn more about the founder Steve Simonson
Have you checked out ProductSavants?