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Jim Blasingame

Business futurist, award-winning author, speaker and columnist

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Archives for July 2020

The New Regular: The Power of Post-Pandemic Brainstorming

July 30, 2020 by Jim Blasingame

This is the 10th edition of my New Regular series, which is committed to helping Main Street businesses make the tenuous transition to a post-pandemic economy. You can catch normal in a bit-part on the revival of PBS’s “Downton Abbey.”

Whatever your business looks like going forward, it won’t be what you used to call normal. The easy part is that, as the recovery plays out over the next year, what you’re supposed to be doing will be revealed to you by customers. The hard part will be making that transition personally and organizationally. In other words, getting out of your own way.

Since it’s likely that how you serve customers this December will be drastically different from how you did it last December, there’s no better way to “get out of your own way” than through brainstorming.  This is a leadership practice that helps shed hidebound baggage – “Well, that’s how we’ve always done it” – your business can no longer afford in the New Regular.

Brainstorming has always been powerful. But now that we’ve been keelhauled by the coronavirus shutdown, it’s essential. Plus, it’s the best way to get organizational creative juices flowing. And creativity is the mother’s milk of a powerful tool without which you cannot brainstorm: adjectives.

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Filed Under: Business Planning, Coronavirus, Innovation / Creativity, Management Fundamentals

The New Regular: Putting Lipstick on the Bankruptcy Pig

July 23, 2020 by Jim Blasingame

This is the ninth edition of my New Regular series, dedicated to helping small businesses cope with the one-two punch of the coronavirus pandemic and associated economic constraints. Normal was just sighted in a homeless shelter in the north of France.

The subject today is a serious and troublesome one. No amount of lipstick will make the bankruptcy pig pretty. But as we roll into the post-pandemic era, we should improve our understanding of it.

You can be technically bankrupt without being legally bankrupt. At some time in their existence, most businesses will experience an upside-down state of negative net worth, where liabilities exceed assets. It’s likely that such a condition will pass unnoticed, possibly even by the owner, because the business might not be insolvent.

Insolvency is a pre-bankruptcy state of financial distress when near-term payment obligations exceed cash-generating ability. This condition is not only noticed, it’s consuming. If you dig yourself out of insolvency and avoid bankruptcy, that becomes a badge of honor. Yes, your humble correspondent knows something about that.

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Filed Under: Banking, Cash Flow, Investors, Profitability

The New Regular: When Small Business Brain became COVID Brain

July 18, 2020 by Jim Blasingame

This is the eighth edition of my New Regular series, which is devoted to helping small business owners deal with the financial and emotional damage created by the coronavirus shutdown(s). Normal went MIA around March 15.

Recently on my radio program, one of our many smart Brain Trust members, Jim Schreier, introduced us to a new condition that neuroscientists are studying. Markers of this syndrome include, but are not limited to:

  • Being stressed out
  • Feeling you can’t keep your head above water
  • Trouble sleeping
  • Struggling with decisions about if/when to pivot
  • Worrying that the next decision could bankrupt you

Veteran small business owners will laugh at these, recognizing them as a short list of what they eat for breakfast every morning. Stress? Worry? Struggle? Is that the best you got?

The levels of adversity Main Street operators take in stride every day would kill most civilians (anyone with a regular paycheck). But on top of all the risks and rough edges small business owners learn how to manage, the pandemic-caused, unprecedented, economic shutdown that separated us from customers, frankly, is a new item on our business breakfast menu.

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Filed Under: Coronavirus, Entrepreneurship, Work-Life / Balance

The New Regular: The Three U’s of the Apocalypse

July 9, 2020 by Jim Blasingame

This is the seventh edition of my New Regular series, which is devoted to how small businesses have been impacted by the coronavirus shutdown.

In barely more than the lifespan of a housefly, we’ve been extruded through a pandemic wormhole, from a place called normal into a new reality devoid of that concept. Along the way, the orbit of our lives has been altered by the rude gravity of what I call the “Three U’s of the Apocalypse”:

  • an Unprecedented coronavirus pandemic,
  • precipitating an Unprecedented economic shutdown,
  • necessitating Unprecedented direct government assistance.

Regarding that last U, it’s time for a 90-day update, including new rules and offerings.

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Filed Under: Coronavirus, Government / Politics

America celebrates liberty and the world is the beneficiary

July 4, 2020 by Jim Blasingame

Seven score and seventeen years ago, in his inspired speech at the 1863 dedication of the Gettysburg Cemetery, President Lincoln delivered these immortal words: “…our fathers brought forth on this continent, a new nation, conceived in liberty and dedicated to the proposition that all men are created equal.”

Four score and seven years earlier, one of those “fathers,” an inspired Thomas Jefferson (with suggestions from no less an able editor than Ben Franklin), authored what is arguably the most momentous secular document in history. The second paragraph of America’s Declaration of Independence begins with this passionate passage:

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights that, among these are Life, Liberty, and the pursuit of Happiness.”

[Continue Reading]

Filed Under: Government / Politics, Work-Life / Balance

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