Tribe Check: How These Entrepreneurs Are COVID-Coping
For many entrepreneurs, operating a business in the midst of global pandemic means more than Zoom meetings, working in your favorite sweats, and #WFH posts. It means balancing bottom lines and grappling with potential loss of revenue, swift and strategic pivots, and producing a value proposition that delivers a ROI during and beyond COVID-19. Oh, and don’t forget about managing mental health, life, staff and stakeholders, while also attempting to not snack your life away and fall victim to the “Quarantine 15” (Side Note: No judgement to the members of this club, as I’m one Golden Oreo away from being the newest member). In a nutshell, it’s a lot.
In this climate of uncertainty, we caught up with a few entrepreneurs to see how they’re COVID-coping, professionally and personally, and how they’re managing their respective operations in times of business unusual. Interviewees include:
Dana Chanel, Co-Founder, Jumping Jack Taxes & Founder, Curl Bible, Earn Company, Sprinkle of Jesus, Alakazam Apps, The Earn Company
Miatta David Johnson & Massah David, Founders, MVD Inc.
Maghan Morin & Jeanine Suah, Founders, Thynk Global (Co-Working Space)
Yvonne McNair, President & CEO, Captivate Marketing Group
How has your business been impacted by COVID-19?
Dana: BOOMING! In the beginning I almost felt guilty when people asked me this question, but then I was like hold up, I should totally be proud of what my family has built. [We’ve] built something to sustain not just us, but so many across the country. The President was legit apart of our marketing team, telling everyone in order to get their stimulus checks they needed to file their 2018 or 2019 tax returns. Jumping Jack Taxes app was going insane with Americans trying to find virtual tax preparers. An ounce of preparation beats a pound of cure. This is what I preach, and it was crazy for an extreme circumstance like a pandemic to prove to my people what I’ve been talking about for years. [Create a] NEED-BASED BUSINESS!
Miatta & Massah: Our business was directly impacted by COVID-19 because of the nature of services we provide. MVD Inc is heavily rooted in experiential marketing which typically relies on gatherings and experiences.
Maghan & Jeanine: Our business is mainly a social business where we facilitate connections and host events. The pandemic has completely forced us to go virtual and continue to try to engage and keep members, and potential members, engaged through social media.
Yvonne: Unfortunately, COVID-19 has impacted my business greatly; the majority of my business is based around live events and entertainment. [Most] large gatherings have been cancelled for 2020, so that means I have to shift to virtual events. The bulk of my events contain live performances, so I have shifted to working to create a virtual experience that can be still be impactful to audiences. Nothing can replace the energy of the live performance, but I understand that people still want to be entertained during this difficult time. In addition, I was in the process of increasing staff, and that has come to a complete halt. My hope is that I will be able to return to creating opportunities early 2021.
Emotionally and mentally, what toll has this taken on you as a business owner?
Dana: So, if you don’t already know, my husband and I run all of our companies together. We are with each other EVERYDAY. ALL DAY FOR THE LAST 5 YEARS! My husband is my best friend (@princedonnell). As leaders we stay busy, but I also got quarantined with my life partner. [During the quarantine] we’ve been growing like crazy and pushing each other. I’m super missing my team, especially my girls, but we use technology to stay connected. I miss them a lot. I also pray for patience when I’m feeling irritable or get overwhelmed, and I [make sure to] get outside to get fresh air and exercise.
Miatta & Massah: It’s taken a great toll emotionally and mentally as business owners because we are not just responsible for our wellbeing and the survival of our company, but we also have to ensure our staff is taken care of. That responsibility in uncertain times is challenging, but we’ve leaned heavily on our faith and our tribe which helps us see a way when it seems there isn’t one.
Maghan & Jeanine: Emotionally and mentally it has been a challenge somedays. However, we are very fortunate that we have each other because the days when one is down the other is up, so we keep each other balanced.
Yvonne: As business owner, this has probably been one of the most challenging times for me. I was off to a great start for 2020 and never could any of us have imagined a global pandemic, in addition to having to navigate the personal challenges of how this is impacting friends and family. I also have to navigate the feelings of the loss of business, the uncertainty in the event industry and not having any control or understanding of what the future holds. Shifting gears to deal in uncharted waters is mentally taxing. I am trying to remain as positive as possible and stay busy, but I do have to take it day by day personally and professionally.
During this time, how can consumers and small business owners help you?
Dana: Simple. If you're tight on cash or have no reason to spend money with our businesses, a simple repost or share on social media goes a long way.
CURLBIBLE.COM | JUMPINGJACKTAXES.COM | EARNCOMPANY.ORG | ALAKAZAMAPPS.COM
Miatta & Massah: Both consumers and small business owners can help us by highlighting our business. Spreading the word about our business and the work that we do, does more for small businesses than you could imagine.
Maghan & Jeanine: The best way people can help is by supporting us through sharing content, donating, becoming a virtual member, and following our journey on YouTube, Instagram, Facebook, or LinkedIn.
Yvonne: I think as small business owners it is important that we share information and work together. I am involved in the International Live Events Association, and we are having calls and workshops to help each other navigate in this new world. Additionally, the goal is to make it to the other side and remain in business, so my hope is that as soon as the world starts to return to some sort of normalcy that people will keep me in mind for future business. From the consumer standpoint, they also can help by promoting their favorite small business though their social platforms.
What advice would you give to other entrepreneurs as they navigate COVID-19?
Dana: Innovate. Innovate. Innovate. We’ve made so many changes with such stillness. [My husband] and I go on 4 mile walks with our dalmatian every single day and wooooahhhhh. The ideas we’ve come up with, to just come in the house and execute, has been a remarkable experience. We hear that quote all the time “the average millionaire has 7 streams of income” ughhh sure, but they also didn’t disclose it can be seven different streams leading the same lake. So, I would encourage all entrepreneurs right now to look at your business and see how else you can make money in the same industry.
Example: Own a cleaning company, but no one is letting you in their home right now? How about we start offering a service where we deliver all the necessary cleaning supplies with instructions or cleaning strategy chart to get the job done like a professional. Boom, you just pivoted without having to jump ship and change your business or find a new customer base.
Miatta & Massah: Our advice to other entrepreneurs is:
Stay informed. Try to stay up-to-date on the happenings, tips and forecasts for your specific industries.
Talk to your fellow entrepreneurs, this time has lent itself to more collaborations so tap into your resources and network.
Stay authentic to your brand, if it doesn’t feel right for your brand don’t do it.
Use this time as a reset, do any housekeeping and fine tuning you’ve needed to do that will improve your business.
The most important advice we have it so remain optimistic
Maghan & Jeanine: Our advice would be just keep going. Everyday find something to be grateful for and focus on that. Keep your mind strong by focusing what makes the business money, keep pushing!
Yvonne: During this time, I think is critical for entrepreneurs to engage in productive activities that can help them grow their business. I think we have to stay abreast of issues and programs that may affect our businesses. The landscape is changing daily, so it is key to stay connected. I have also enrolled in several entrepreneurship courses and am trying to stay visible on social media, and by way of marketing email blasts. I am continuing to network to try and present my capabilities to potential and future partners.
What's been your biggest lesson(s) learned during this time?
Dana: Learn? [Instead] I would say received confirmation. No one thinks crap will hit the fan, and then one day it does. I’ve learned that you always have to have a need-based business in the tuck. When the average consumer's funds are running low, are you still a necessity and [will your business survive] your customers budget cuts? Building Jumping Jack Tax was the best move as a family empire we’ve ever made. The President was legit apart of our marketing team, telling everyone, in order to get their stimulus checks they needed to file their 2018 or 2019 tax returns. We got flooded with an overwhelming amount of business. When the economy was on “hold,” we kept so many of our partners making money being able to provide for their families. It was beautiful.
Miatta & Massah: We would have to say it’s a lesson that we learned during the recession and still rings true now, which is to always be willing to adapt and to be as nimble as possible with overhead, expenses, etc. This was also a friendly reminder to remember why we started.
Maghan & Jeanine: The biggest lesson we learned is how to build a business that is resilient. This will not be the last time something like this occurs and the most important lesson this pandemic has taught us is to always be prepared.
Yvonne: The biggest lesson that I have learned during this time is how important community is. I have been greatly supported by my personal and professional peers. Relationship building is an important part of my business, and I am so thankful to have the relationships that I do during a difficult time like this.