Advertising, Branding, Communications, Marketing & PR, COVID-19, New Jersey

Strategy and Innovation Opportunities to Come from The Paycheck Protection Program

What the Paycheck Protection Program Means for Small Businesses

How many times have we all said, “I’m trying to fit 12 hours into an 8-hour workday”? Life is often very fast-paced, rarely allowing businesses the chance to slow down for a look at the finer details.

This pandemic is providing a unique opportunity for small business owners. As client revenue and typical workload have decreased, more time has opened up to work on projects that have always been put on the “if we have more time” list. With the opportunity to bring furloughed employees back to work because of the PPP, it’s time to think about the strategic and innovative tasks that will enhance your business down the road.

If you have applied for the PPP, or will apply soon, this is a crucial time for your company—it will likely be a few weeks until you see your (possible) forgivable loan. Use this new-found time creatively and resourcefully to think about what you will have your employees engage in while they are at hand now, as well as when they return to work.

Consider the skills and talents that your employees already have and put them to good use! Go back to their resumes to dig into their past experiences; many will be pleasantly surprised at the new-found recognition of their utility and long-hidden-away skill sets. Have scheduled conversations where they come prepared with ideas of their own. Or, develop a list with your Leadership team of tasks to tackle, and match talents against those tasks. While it is difficult to find silver linings during this time, having the time to focus on strategic business-enhancing projects could be exactly what your company needs.

MarketReach team group photo

How Will MarketReach Use This Valuable Time?

At MarketReach, we have a talented crew of appointment setters—they spend their days making outbound sales calls for clients. On the other hand, Frank really enjoys coding and database work. Frank will now be tasked with working on our CRM and take the 30-hour course to begin enhancing our database to allow our team to be even more effective and efficient as things get back on track!

MarketReach team Zoom meeting

Malik enjoys video production. He’s full of energy and has developed videos for his own side business. What magic can he create for MarketReach by putting those talents to the test to help us create the content that we surely have been missing here?

Prospect research and qualification is an ongoing requirement for our newest team members—Dakota and Dylan excel at this part of the job. They will make for a brighter campaign result for clients that have stuck around with us during this challenging time—those clients will get this service for free! These are just some of the various opportunities MarketReach will be able to pursue with this loan!

A few months from now, you are going to want to look back at this time and know that you took the necessary steps towards success. Once business returns to normal, you will not have the valuable time that you have right now. So, what’s your strategic vision to tackle those “if we had more time” ideas?

Check out MarketReach’s innovation story from INNOVATE® New Jersey, coming soon in hard copy and out now as an e-book.

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