|My Dear Friends,
How are you holding up? It’s been an intense few weeks and as the situation evolves, life is feeling rather surreal. I live in Portland, Oregon, in Washington county where the most cases are. We are on full lock down now. My 11year old son, William has been out of school for a couple weeks. He came down with a fever a bit ago. He recovered quickly, but I was so frustrated that I couldn’t get him tested. They could only test 40 people a day here and were testing only those very sick. Just absurd! Other than that, we are fine.
I’ve had my ups and downs. My emotions span intense sadness to gratitude for the global reboot and quiet time. I posted a very personal video on insta @juliamolloy1 yesterday sharing an awareness that in order for me to move fully into solution mode, I really needed to get in touch with my grief and sense of loss. It was uncomfortable sharing such a vulnerable moment, but I know so many of you are feeling waves of sadness too. It seems that everyone is staying positive and ready to work through the current issues all gung ho. For the first couple weeks, I was a little numb. It wasn’t until yesterday that I allowed myself to grieve. I wanted to make sure you know that it’s OK to go through that sadness and you are not alone in that. I think we are all on an emotional roller coaster these days. I know for me, it was necessary that I process those emotions before I could really move forward.
Today I woke up feeling better and ready to move into solution mode again. I want to reach out to each of you and remind you that you are not alone in this and that we are in this together. Despite the overwhelming scope of this situation, it is important to step back and remember that it is temporary and we will make it through this. For those of us that survived the recession of ’08 we have first hand experience and know that this too shall pass and we will thrive once again. In the meantime, there are a few things we need to do as we navigate through these rough waters.
Focus on SELF-CARE. This means many different things and they often shift from day to day. A few that I am including in my day are:
Rest – Sleep or rest when your body tells you it’s tired | Staying in touch with our support circle of friends and loved ones | Eating healthy | Allow our feelings to flow | Include things that bring us happiness each day without fail | Exercise even if its just stretching or dancing around to music | Stick to a daily routine
Center ourselves in LOVE and GRATITUDE. It will ebb and flow, of course, but if we can focus our energy on loving ourselves and our loved ones more intensely than ever and pay attention to all the little blessings this time is offering us, we will maintain a better sense of well-being. A few ideas I am gradually incorporating are:
1. Playing with my son. Really getting into it, with no time limits or distractions. Board games, Disco Nerf battles, making things together etc.
2. Tell people you love them often and let them know the things you appreciate about them
3. Sending out note cards or letters to people that matter to you
4. Indulge in Goddess Bath time – bubbles, bath salts, music, (wine), I even have a glowing unicorn rubber ducky (Anyone who knows me well is not surprised! lol!)
5. Doing a little at home online workout program. (Full disclosure, I haven’t quite been doing my daily workout, but I will get there.)
Get CLARITY around your Business. It is difficult to make decisions with so many unknowns and that can cause a great deal of anxiety. We do have several indicators and methods to make A and B scenario plans. There are also several key metrics to look at to determine what tough decisions you would have to make and when.
I will be releasing several online videos and courses to help you do this with clarity and confidence, over the coming weeks. In the meantime, if you are being hit hard, here are a few steps you may want to take immediately:
1. If you rent your space, call your landlord and ask for a hold on rent for 60 or 90 days.
2. Apply for a bank loan or an SBA loan. Some states also have local programs you can apply for. Stay in the know and apply for whatever financial assistance you qualify for. Do not wait.
3. Go through all of your expenses and auto-pays and eliminate everything you can.
4. If you have student loans, call and ask for a deferment. They are mandated to provide this to you.
5. Some utilities, rent and mortgage companies and other debtors have been instructed to provide grace periods with no penalties. Reach out to them and ask for extensions as needed.
These steps will preserve your working capital so you do not go into panic mode and have a little space to pivot your business.
Next time I will be talking about that pivot, specifically staffing choices and outsourcing scenarios to consider.
Below are a few links to valuable industry interviews and guidance from the best.
WANT TO KNOW WHAT SOME OF THE PROS ARE DOING AND WHY? LISTEN TO AN INTERVIEW WITH MARTIN LAWRENCE BULLARD, JAMIE DRAKE HOSTED BY LLOYD PRINCETON.
FOR INSTANCE, HOW MARTIN AND JAMIE HANDLED THEIR DECISIONS AROUND KEEPING OR LETTING GO OF STAFF. VERY INSIGHTFUL! THANKS AGAIN, GENTLEMEN!
LISTEN TO MARTIN LAWRENCE BULLARD AND JAMIE DRAKE
WANT TO KNOW WHAT LLOYD PRINCETON OF DESIGN MANAGEMENT COMPANY AND I ARE RECOMMENDING FOR EMPLOYEES AND EMPLOYERS RIGHT NOW? HERE IS THE INTERVIEW WITH LLOYD PRINCETON ON MONDAY.
LISTEN TO JULIA MOLLOY AND LLOYD PRINCETON ON STAFFING
ONE MORE GREAT RESOURCE FOR WOMEN BUSINESS OWNERS IS THIS DAILY ZOOM MEETING HOSTED BY NAWBO – NATIONAL ASSOCIATION OF WOMEN BUSINESS OWNERS. BROADEN YOUR VIEW BEYOND OUR INDUSTRY. YOU DO NOT HAVE TO BE A MEMBER TO JOIN IN ON THESE VERY INSIGHTFUL MEETINGS.
JOIN A DISCUSSION WITH LEADING BUSINESS WOMEN
I am here with you. We have everything we need to make it through this!
If you need guidance, I am here to help. Click here to schedule a complimentary needs assessment call.
Thanks for being a part of the BOLD community. I appreciate you. Stay safe and healthy and I’ll see you next time.