Amazon Seller News and Corona Virus Advice

https://awesomers.com/175 for show notes and links 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 --> Amazon Seller Game Night https://zoom.us/webinar/register/WN_jL7q1JlFSGWlMxdVSfSwBw Product Savants - KevinandSteve.com Reveal Webinar https://zoom.us/webinar/register/WN_HiOUhR6ZSBipakIZg9yM3Q Empowery sent a FREE guide from the Business Practice to it's members, but you can get one for FREE too. - https://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 burning cash? 2 - Get Finance In Place Now 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. Similar steps have been announced in the USA and other countries. 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. 4 – Staffing Cuts/Changes 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 8 – Be Level-Headed and Stay Positive >>Panic and worry never helps >>Look for small wins every hour/day >>Sometimes less news is a good idea – turn it off 9 – And ..... Finally......Take a chill Pill!!!! Relax, this is very likely very temporary .....so plan, Don’t panic. https://awesomers.com/175 for show notes and links