< Previous10 | The Daily News | Chamber Express | April 2020 A s the COVID-19 pandem- ic hits the U.S. in the coming days and weeks, business owners are wondering how it will affect their businesses and their lives. How we react to this emergency and what actions we take now will determine how well we are able to adapt to the new and emerging business par- adigm that is unprecedented in our history. The best thing we can do right now is be well-informed about what is happening — which will allow us to make intelligent, informed decisions based on facts — not emotion or hype. These are fast-paced, daily changing times when business owners are experiencing never-seen-before mandates and societal changes that require them to structure their businesses and teams dif- ferently, engage their customers CHAMBER U Don’t Panic – PLAN TO PIVOT! By Mike Hilderbrand – Action Coach creatively, and reallocate resources in an unprecedented manner There is far less tolerance for trial and error due to how fast the marketplace is changing. Because of the dynamic nature of the mar- ket right now, and much emotion and misinformation that may be driving bad decisions, business owners need to have a rational thinking path that drives them to put together a proactive action plan that fits their particular busi- ness and industry and allows them to pivot rapidly. The Pivot Plan needs to include the following 11 element checklist of issues and steps to take now: 1) Communication – Communi- cate with team members, custom- ers, suppliers, and the communi- ty; you can’t over communicate during a crisis. 2) Mindset – Panic and worry never help; you need to be the most positive person in the room and lead by example. 3) Time scale of economic cy- cles – Usually, we experience are 7-to-10-year cycles ,but we will be experiencing the whole cycle in just a few months. 4) Change – Change is scary, but with the rapid changes we are experiencing, what got you here won’t get you there. Be open to drastic rapid changes in your business. 5) Cut back – Cut back where can, so you can reduce outlays. Stop spending, slow things down or postpone. 6) Extend credit – Increase cred- it lines, secure additional credit (cards), low interest SBA loans. 7) Staff appropriately – Don’t wait until the ship is half under water. There are options. 8) Plan to work from home – Consider technology, banking and customer service levels. 9) Utilize online business and delivery – The wave of the future arriving now. 10) Marketing – In economic challenges, marketing should be the last thing cut. 11) Protect your core customers – Repeat business means cash-flow and profit; keep them at all costs through positive communication and special consideration. Make sure they know they are important to you. They won’t forget. Follow these 11 steps to put your pivot plan together and then execute it. THINK – PLAN – DO. Use all the resources at your dis- posal, but don’t wait. Do it now. Contact me at mikehilderbrand@ actioncoach.com for a 1-2 hour “pivot strategy session” to create your proactive Pivot Plan inte- grating the 11-element checklist above. This complimentary session is designed to guide owners to survive and then THRIVE through the pandemic and the resulting economic impact. For more information about ActionCOACH of Galveston visit www.galvestonbizcoach.com. “The best thing we can do right now is be well-informed about what is happening.” MIKE HILDERBRAND , action coach COVID-19 UPDATES • State of Industry Luncheon will be rescheduled • Industrial Trade Show rescheduled for June 23 • Taste of the Town & Auction will be rescheduled Calendar Changes For current resources on SBA loans, Small Business Recovery Programs, Healthcare, and Galveston County information please refer to the Chamber’s website - www. tclmchamber.com ResourcesApril 2020 | Chamber Express | The Daily News | 11 2425 SH 146 North • Texas City 409-945-4461 • Fax 409-945-8479 • Email: tctrr.com No. 4 In Texas No. 10 in U.S. Gulf Coast No. 15 in U.S. Nationwide PORT OF TEXAS CITY Texas City Terminal Railway Company Port Authority RENT • SALES • REPAIR 2830 TEXAS AVE., TEXAS CITY • 409-948-4497 MAINLAND TOOL Store Hours: Mon-Fri: 7am-6pm, 24 Hour Call Out Service Available MAINLANDTOOL.COM WHILE SUPPLIES LAST! 20 Volt Cordless Drill $ 79 95 Mainland 409-935-2496 Metro 281-337-5634 Island 409-765-5883 www.alexsair.com TACLA 15714C Momentive Performance Materials 5700 Century Blvd. Texas City, Texas 77590 281-337-2531 Representative: Kevin Buzzard, Sr. Operations Manager Norrell Construction, Inc . 1318 Underwood #102 Deer Park, TX 77536 979-265-4234 Representative: Andrew Cone, President TLC Office Systems 8711 Fallbrook Dr. Houston, TX 77064 (832) 528-8117 Representative: Treva Carwin, Major Account Executive Enviro-Dyne Industrial Services, Inc. 12450 Hwy 3, Suite A Webster, TX 77598 320-444-6739 Representative: Todd Finneman, CEO WELCOME NEW MEMBERS12 | The Daily News | Chamber Express | April 2020 Apply online at texasf irst.bank/mortgageor via the TFB Home app 2 . 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