Small Business Concierge, Silicon Valley Edition, Spring 2020 Extended Power Women Power Secrets

Business on the Horizon By: Meredith Walker | Posh Events and Affairs | www.posheventsandaffairs.com

In the 2019 Fall Edition of the Small One might ask, “How do you shift the way you have been doing business to something Business Concierge new when you’ve lost customers and are Magazine, I wrote an struggling financially?” article entitled “Is the There is financial support out there, but you Social Events Industry have to be diligent, persistent, and patient. Recession Proof.” At The U.S. Department of the Treasury the the time, murmurs and Coronavirus Aid, Relief, and Economic grumblings were going Security (CARES) Act assisting workers, on about the state of the economy. Depending on which expert you chose to listen to, something was on the horizon that could alter the business world’s course. Never did I imagine within a few short “ “No man ever injured his eyesight by looking on the bright side of things.” months of writing that article, the world would be in the middle of a pandemic - Author Unknown known as COVID-19 and that it would abruptly disrupt the way we did everything. From going to work, shopping, families, and small businesses. As a result, traveling, socializing, religion, routine the U.S. Small Business Administration (SBA) is doctor appointments, and funerals; to the offering several relief options and resources; devastating blow to our economy and our wellbeing, we are experiencing is dubbed the “New Normal.” • The Economic Injury Disaster During these “economic downturns,” small Loan (EIDL) businesses need to be laser-focused, honing • EIDL Advance (for U.S. in on their services or product offerings, ready to shift and adjust for the changing times. agricultural businesses) Today’s social norm is allowing me to ignite • Paycheck Protection Program my creative talents in multiple ways, and I am (PPP) excited. But do not think that I am ignorant of the struggle ahead. I am aware of the • SBA Express Bridge Loans news reports stating that over 20.2 million individuals have lost their jobs in the services • SBA Debt Relief and hospitality industry (MSNBC). I have lost a significant amount of revenue due to event cancellations and offering full reimbursements to my clients. But now is not the time to give up. Thankfully, it doesn’t stop there. A plethora of resources is out there waiting and willing to help business owners during this time. While we are ‘sheltering-in-place,’ there are Now is the time to shift and adjust to the changing times, or you could be left behind. learning and mentoring opportunities from successful business owners and companies on how to survive this pandemic, but how

to come out more robust; more focused; superior products or services; a better business owner.

Recently, I read a piece in a devotional book about Samuel Morse and how he dreamed of becoming a great painter. The book mentioned his father, Jedediah Morse, gave him advice to “Attend to one thing at a time. The steady, undissipated attention to one object is the sure mark of a superior genius”. So Samuel pursued becoming a great painter until disappointments, and a series of setbacks cause him to abandon his dream. Not forgetting his father’s advice, Samuel switched his focus and changed the world by inventing the telegraph and the language of Morse code.

For the past several weeks, as this pandemic continues, I have decided to reevaluate my business model and identify and determine ways to shift for this ‘New Normal.’ And I can honestly say that I am overwhelmingly excited, optimistic, and expanding my service offerings. I am thinking outside the box and creating bright new ideas for my client’s “stay-events.” My team and I are moving forward on a new events App we believe will enhance the future of the social events industry.

Yes, as small business owners, we are up against new trials and challenges, but there are also new opportunities. Our creative spirit is more often released in our most challenging moments. It has been said that few great things are ever accomplished when we’re comfortable. And although we all desire to be comfortable, it is not our most productive moments. COVID-19 has brought all of us to uncomfortable moments. But in these moments, if we look hard enough, we can see new vistas and new opportunities to expand our dream of entrepreneurship and empower our future.