Recently, Petra Coach hosted a Coaches’ Corner – a 1-hour session of live Q&A with Certified Petra Coaches. This webinar featured coaches Andy Bailey, Marshall Martin, JT Terrell and Chip Gallent.
The content is invaluable to leaders during this unprecedented time.
You can find the full recording here.
To augment the recording, below is a brief recap of questions, answers and resources from the session.
A: Huddle with your team – preferably first thing in the morning and evening. This is also a great time to be creating content for your users. Give more than you have to right now. Think about where in your organization you can pivot – and potentially turn into something bigger than you had before.
Book Reference: Fanocracy by David Meerman Scott
A: Normal? Never. Think more about returning to a “better normal.” We can make the new normal be whatever we want it to be. Your team may work from home indefinitely now – more time with their families and less commuting. Depending on when we get a vaccine for COVID-19 will determine when the new “normal” will happen. Normal is a state of comfort, and we won’t be able to go back to that like it was before.
A: Show your interest in helping others and go ahead and start posting. Figure out something that will build you revenue without actually having to go out and do a massage (i.e. teaching a guided massage online).
A: Anytime you are tracking a process, there are multiple steps to that. Start with breaking down the steps and see where you can make small improvements so that once you put the process back together you will notice sizable changes.
Resource Reference: Hilary Corna
A: Find a culture warrior on their team and have them come up with ideas for the team.
Ideas for Zoom:
Something to take people’s mind off the work and media for a bit. Do your best to simulate virtually what you have been doing in person. Replicate the environment that existed before this happened.
Make times during the day where the team just leaves Zoom on, and if you need to ask a question, you can or chat briefly.
Denny Corby – Close-up Magician
Anna Birch – Team-building exercises through Zoom
A: If you have applied for the PPP loans, then the next step is managing the forgiveness of those loans. Put the funds in a separate bank account and spend it on the things that are forgivable and track it – rent, payroll, etc.
Keep track of any expenses you have had because of the situation – had to buy gloves for your team, etc. There could be tax forgiveness on dollars spent at this time. You can also track additional time team members are spending on things they are now working on related to the changes.
Pick up the phone and have a conversation with your vendors, creditors and people you owe money to and let them know your situation and what you can pay at the moment.
Look at PNL on a daily basis – you will have a really good idea of where your dollars are going, and your team will too.
Put 1% of revenue, put it in a separate account that you do not touch.
Book Reference: Profit First by Mike Michalowicz
A: Think about:
A: Anticipate that things will be more heavily scrutinized, and it will slow down the ability to get money through the process.
A: Even if you don’t feel like you don’t need the money now, you make need it later. You may want to be conservative. If you want to invest, think about investing in places where you have control.
A: We haven’t seen anything yet, and we still feel like it’s better to keep it in the business.
A: In situations like this, you will want to plan for shorter amounts of time since things keep changing. Think about 30 days from now.