Make at least a dollar

As the pandemic continues to tamp down sales for many businesses, tough decisions will have to be made. Many companies have used up all their PPP money keeping their team working, hoping we would reopen. Some businesses are doing better, and some have been okay all through this. No matter what you are going through, you need to make at least a dollar.

This is really hard. Let me give you the argument for making the tough decisions about your team, your future and survival.

Your team: this may be theĀ  best team you have ever had in all your years of business. They have pitched in, taken pay cuts, worked more hours and you are doing everything possible to keep them on.

Your future: Until March, you were on plan to have your best year ever. Now, your revenue is way down and you have survived on PPP money. It is used up. If you are still pretty strong, your future might not be so scary. That is, if you are profitable. If not it is time to get real.

Survival:You MUST make a dollar. Don’t just aim for break-even, aim higher. We are in worse shape now than we were in April. We don’t have enough PPE. We don’t have enough testing and tracing and we don’t have a vaccine. We aren’t socially distancing and wearing masks enough to stop this. Be really clear what that means for your business. There is no quick hockey stick upturn happening.

As the leader in your organization you must make the tough decisions to cut even good people if necessary so that the company survives to rehire them when business comes back. If you are not the leader, what can you do to support the health of the company? If you think your job is going to be cut, have the tough conversation with your boss. Some companies are hiring. They will help you find them.

Wherever you are right now, take a clear hard look at what it will take to survive and go take action. And, please wear your mask.