BEST PRACTICES

 

Here’s what works for other EO members:

• Go virtual! Our member Dan Stevens is willing to help you support any virtual event for free, we can always stay connected virtually: Dan R. Stevens @ WorkerBee.TV Inc. dan.stevens@workerbee.tv

• Have shorter meetings more frequently. The outbreak has left some of us feeling isolated, fearful and anxious. Touching base frequently will help people deal with the potential psychological and financial impact.

• Use WhatsApp – it’s fast and fun to use! Use it as a special communication channel on the topic for all your members. Share valuable insights and tools!

Health / On the virus:

• The virus lives on surfaces as well so not just about avoiding people but being cognizant of what you get in contact with eg: deliveries you take into your house

• Grocery delivery some stores delayed 7-10 days keep in mind (other services might be faster / pickup straight to trunk option could be faster)

• Some restaurants and small businesses offering trunk delivery

• Encouragement to buy gift cards for local businesses for later use!

Banks / Borrowing  

• Can suspend your salary and get paid through your RRSP’s to take the pressure off the business

• Make your calls to your bank to be top of mind when the time comes

• Look at your 16-32 weeks, evaluate your current borrowing power

• If you have relationships with multiple banks, nurture them all because different banks react differently in times like this, one FI might like your industry in these circumstances while another won’t, they have different offerings, etc.

• If you are requesting $100K or less, the process is more streamlined and requires less due diligence. You may apply online at https://www.bdc.ca/en/pages/special-support.aspx?special-initiative=covid19

• If you require more than $100K, you will need to speak to an Account Manager for them to better understand the impact of COVID-19 on your business ( Marybeth Edge | Manager, Business Centre | T  416-916-8080)

 

Cash

• If your cash is deferred vs gone – your customers live in 3 buckets: cannot pay, can pay you now, can pay you now with an incentive

Leadership

• Lead with calm, empathy, understanding, step up to the plate.

• Communication should be two-or three-fold. If they can’t see you make sure they hear you.

• Add some team social, Eg. virtual lunch Fridays on Zoom

EO Calgary

Membership: 108
Median Sales ($USD): 2.5M
Employees: 7,787

Contact Us

EO Calgary
Unit 345
2500 Castle Dr
Calgary, AB

T: (403) 629-4753
E: info@eocalgary.com