Five dos and five don’ts for restarting your business in lockdown
After a decade of running his own company, CEO Simon Paine finds himself in start-up mode again, rapidly reinventing his business to suit these unexpected times. Here’s the latest instalment of the PopUp Business Survival Guideexclusively for Business Advice…
All businesses are start-ups now. Everything has gone out of the window and we have no choice but to start again. A few weeks ago, our events business was turned upside-down, we lost six-figure sums and we had no obvious way to make money.
We have been very successful, helping over 6000 companies start up.But there’s no chance of running an event anytime soon.
So, come with me on this journey and let’s re-start together.Here are my 5 do’s and don’ts when restarting your business during lockdown:
1. Don’tfeel sorry for yourself
I get it, it’s tough.But you do have a choice. Either throw up the sandbags and try to sit it out or get active. Im going for the latter.
2.Don’t write a business plan
Let’s face it, you never followed your old one, anyway. Business plans are rubbish. Dont bother writing one, just pick up the phone and start talking to customers.
3. Don’t take on debt
This is not a time to take on debt, unless you really have to. We dont know how long we are going to be in this mess and the problem with debts is that you have to repay them.
4. Don’ttry to do everything by yourself
Being an entrepreneur can be lonely, but you are not alone. Delegate, ask for help, ask for ideas and ask for support. Dont stay stuck. I bet there’s someone you know who has some spare time right now!
5.Don’t let this thing win
I refuse to let this issue hold back my business. Everything you’ve worked for, the dreams you have and the goals you set shouldnt be abandoned, they should be strengthened.
Now, let’s get positive?
1. Do ask for help
Engage with other self-employed people and support each other by helping to figure out solutions to the challenges you’re facing. You might be surprised at how much others are prepared to give. People are stuck at home and want to feel useful.
Simon Paine's events company has been decimated by the coronavirus, but the PopUp Business School CEO is fighting back. He and his co-founder, Alan Donegan, will be offering regular support and advice for Real Business readers, with PopUp's Business Survival Guide.