Jim Blasingame

Business futurist, award-winning author, speaker and columnist

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Archives for December 2020

The New Regular: PPP Update #4 – New Money And Rules

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This is the 23rd edition of my New Regular series, which didn’t begin as a series because no one on the planet imagined Main Street would still be getting hammered by two very dangerous forces: a deadly virus and state/local politicians. So, welcome to 2021 when, apparently, Normal has checked-out for another year.

Since last February, your humble correspondent has been reporting on what I’ve named the “Three U’s of the Apocalypse”: an Unprecedented coronavirus pandemic, precipitating an Unprecedented economic shutdown, necessitating Unprecedented direct government assistance. Now, in my fourth report in this series to focus on that last “U,” let’s bring you up to date on the “Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act’’, or PPP2, for short – which is at least five months late.

This is essentially the availability of another round of Paycheck Protection Program (PPP) funds, with new money and new rules that update the original CARES Act of March 27, 2020. The new law also delivers some excellent new provisions that you’re going to like.

Here’s the essence of this new PPP cupcake with new sprinkles.

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Inside the head of a small business owner – during a pandemic

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Here is a running conversation millions of Main Street business owners have every day – mostly with themselves – while operating on the edge of existence during a global pandemic.

Eep … Eep … Eep … Eep …

5:15am: A small business owner touches the snooze button on his phone alarm
“Man, I gotta change that obnoxious alarm tone. Big day – should hear from the bank about qualifying for the next round of PPP. We really need it – can’t cut any deeper and stay open.”

6:47am: Rolling. On a call (hands-free, of course) with his remote-working accountant
“Listen, if the PPP money doesn’t happen, and the bank won’t make a gap loan, how tight will cash get next month? Mmmm! Worse than I thought. Okay, we should get a decision on ACME today. If they accept our proposal, that should get us past next month, right? Well, get on those aging receivables. Lemme go. Gotta take this call from James (warehouse manager). It can’t be good at this hour.”

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In Defense Of The Misunderstood Scrooge

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This is Jim’s traditional Christmas column.

Some say I’m a scrooge. They might be right.

The following exhibits (excuses) are placed into evidence in my defense of this indictment:

A.  The early part of my career was spent in retail. Retailers know what that job does to your holiday spirit. There’s a survivor syndrome for everything else, why not one for retail survivors? Let’s call it RPTHSS: Retail Post-Traumatic Holiday Shock Syndrome.

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Prepare for 2021: Five Critical Questions for Business Startups and Veterans

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Let’s play “What’s wrong with this picture?”

DATELINE: New York – December 11, 2020: Millions of small businesses hanging on by a thread after being shut down by state and local politicians reacting to the coronavirus pandemic.

DATELINE: Chicago – December 11, 2020: Thousands of small businesses closing for good after being shut down by state and local politicians reacting to the coronavirus pandemic.

DATELINE: Washington – December 11, 2020: “There’s a business startup boom. The third quarter of 2020 records the highest new business applications we’ve ever seen.” (U.S. Census Bureau).

That was a softball, wasn’t it? Next time I’ll throw you a real curve.

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Five Ways To Fast-Start 2021 – Even During A Pandemic

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Whether it’s a year when our reality was something we once knew as “normal,” or an unprecedented and unimaginable year of a global pandemic, the abiding management question for all small business owners is always the same: “What’s the best use of my time – right now?” And at no other time in any year are we more time-management challenged than in December.

The twelfth calendar month is the only one where two powerful imperatives converge against a hard stop, each demanding a full measure of your time, attention, and resources:

  • The perennial push to close out sales performance as strong as possible;
  • Simultaneously setting up the business for a fast and clean start when the New Year dawns.

Pardon the football metaphor, but in the marketplace game your business plays all year, December is the final goal-line stand of your two-minute drill. And in this tight transition period, now further compressed by a pandemic, that fierce competition for precious time and resources requires discipline and devotion to fundamentals.

Of course, focusing on sales is a year-end intuitive. Focusing on next year? Not so much. Consequently, let’s spend some time on the latter.

Our grandmothers practiced the fundamental of spring cleaning every year when the weather broke warm. In the marketplace, in order to kick off the New Year right, your spring cleaning should be done by January 1. Here are a few ideas to get you started with your December cleaning and preparation for 2021 performance and profitability.

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