Tower contractor business owners should be doing several things now to get through the next few months. Even if a small business has enough jobs lined up now, things may change quickly, and having a contingency plan will help. That’s the advice of small business consultant Brian Gramm of Seemore Hawk. He spoke during a NATE webinar Wednesday titled: “CARES Act: What NATE Businesses Can Do Right Now” to get through the pandemic.
Gramm says owners should:
- Apply for payroll protection now
- Roll out a business contingency plan
- Right size your business
- Get your cash situation in order
Business owners need a different mindset for the new reality, according to Gramm. “The same skill sets that have been relied on for the past 10 years won’t work,” said Gramm. “Catch yourself when you say things like, ‘we’ve been in business for a long time, we don’t need to change.’”
Even actions like changing which news channels you listen to or re-reading classics like “7 Habits” can help owners get a new perspective. He explained some of the details about several small business loans being offered by the federal government. He advised communicating with lenders now for details on how to apply.