Verizon Communications Inc. · NYSE:VZ
Verizon Communications — Verizon Small Business Webinar Series (April 2020)
10 slides from Verizon Communications's conference presentation, Apr 7, 2020
Slide 1: Steps to take right now in challenging times
Steps to take right now in challenging times with Mike Michalowicz and Ramon Ray Key takeaways from guest speaker Mike Michalowicz This material does not necessarily reflect the opinions of Verizon. Webinar original air date 4.7.2020 © Verizon 2020 1
Slide 2: Firefighter quote from Mike Michalowicz
“A professional firefighter jogs lightly toward a fire, carrying the heavy equipment. A rookie runs at full speed but is too tired to fight the fire. Take your time and re-evaluate what is best for the business and its customers.” — Mike Michalowicz This material is from a guest speaker and does not
Slide 3: Reduce cash flow
1 Steps to take right now in challenging times: key takeaways Reduce cash flow. Don’t cancel credit/debit cards during a crisis — reissue them. Credit card companies will provide a new credit card number. Don’t transfer any subscriptions; vendors will begin to contact you. Renegotiate terms or elimi
Slide 4: Create a General Ledger (GL) account
2 Steps to take right now in challenging times: key takeaways Create a General Ledger (GL) account. Track COVID-19-related expenses separately to articulate spending. It’s easier to do this in real-time rather than try to look back in time to capture these details. Examples include cleaning supplies
Slide 5: Take deliberate action
3 Steps to take right now in challenging times: key takeaways Take deliberate action. When an event triggers shock and panic in the marketplace, businesses must respond to the environment. If the shock effect leads to inaction, businesses collapse. Instead, take deliberate action and smaller steps.
Slide 6: Take one step back
4 Steps to take right now in challenging times: key takeaways Take one step back. Identify the current core deliverable driving the business and repackage it into mini-products. What happens one step before that? And one step before that? This can help the business pivot and still fulfill the origin
Slide 7: Avoid superhero syndrome
5 Steps to take right now in challenging times: key takeaways Avoid superhero syndrome. If the business owner always swoops in to resolve the problem and save the day, it can create an artificial dependency. Start systemizing the work instead. Record any process that you do, either on video or on pa
Slide 8: Amplify communications appropriately
6 Steps to take right now in challenging times: key takeaways Amplify communications appropriately. During stressful times, communicate more frequently, but in smaller bites. First, wish your customer well and let them know you are here and available to help. Survey your customer to ask how you can
Slide 9: Reassess your business hierarchy of needs
7 Steps to take right now in challenging times: key takeaways Reassess your business hierarchy of needs. All businesses have a similar underlying DNA and basic needs. Review the hierarchy and adjust the hierarchy to varying degrees. Remember that sales do not cure everything. Sometimes you may need
Slide 10: See more of our Small Business Webinar Series
See more of our Small Business Webinar Series at https://www.verizon.com/business/resources/webinars/ Key takeaways presented here are from guest speaker Mike Michalowicz and do not necessarily reflect the opinions of Verizon. This material is from a guest speaker and does not necessarily reflect th
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