i3 - July/August 2020 - 36

Business
By Jake Sigal
A DV I C E FO R E N T R E P R E N E U RS

Small Businesses will Again Lead
the Post-Coronavirus Comeback

e've all been affected by COVID-19 and most small
businesses have gone into survival mode. Owners have
been forced to transition from preferred leadership
roles as innovators and explorers with successful companies to
temporary generals left bootstrapping our businesses, supporting our clients wherever possible and managing the unique challenges for our team.

another, we will all be together - in
person or virtually - to keep technology
moving forward at CES. Let's look to the
future with an eye on the present. What
are you going to be showing? How will
you interact with and protect your visitors and team? How will your booth
look? How can your company be first?

Show Compassion

In 2007, I started planning a business
making radios for a little-known service
provider called Pandora. When the larger
companies retreated to strategy sessions
during the Great Recession, their hardware
plans were delayed. All of a sudden, a small
Detroit-based startup was launching the
world's first dedicated radio with Pandora's
name on it. I write this blog now from the
same office I was working in 12 years ago,
upstairs at home. I can't help but crack a
smile as I'm literally at the same desk, right
where I was the last time it got tough.
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JULY/AUGUST 2020

i3_0720_36_Business_AdviceForEntrepreneurs.indd 36

Remember "Why"

I've blogged about our
"1/2/3" mantra at Tome:
know what you're doing,
why you're doing it, and
have the tools you need
to do the job. In difficult
times, knowing "why"
keeps you and your team
moving forward. For some companies, it's
the problem you're solving or the customer you're supporting. For everyone, a
mantra provides the ability to have a win
in a challenging situation. Revisit your
purpose and reinforce your mission with
your team to get a win every day.

CES 2021 Beckons

The duration of the pandemic and what
effect it will have on travel, trade shows
and the global economy is still unknown.
However, I'm sure that in some form or

Know your Roles,
and Embrace Them

While economically this feels like 2008
both with challenges and opportunities,
the bottom line is that being a small
business leader has always been about
more than staying afloat. We need to
keep our hats handy as explorers and
innovators as we head into uncharted
socioeconomic and technological
waters. While we've all focused on
washing our hands for the past few
months, it's time to roll up our sleeves
and get our hands dirty again.
Metaphorically speaking, of course!

Filippo Bacci/Getty Images

While the pandemic continues, the shock
of the immediate crisis for small businesses has ebbed. The little guys always
lead the innovation comeback. We're all
adjusting to a temporary normal, but it's
time for small businesses to do what we
do best: go fast now.

While we all will move forward, some of
us will face hardships. The easier battles
will be economic. The tougher fights will
be health related. Life is short
and it's the people in our lives
that matter the most. While
I'm going heads down on closWe're all
ing deals and keeping customadjusting
ers happy, I'm budgeting
to a temabout five hours each week to
porary
staying in touch with the peonormal,
ple in life and business that I
but it's
love. I've also volunteered
(and recruited my friends to
time for
volunteer) to help our comsmall busimunity. Being present and
nesses to
being there for your loved
do what
ones, your team and the comwe do
munity is something we can
best: go
all do to counter the effects of
the coronavirus.
fast now.

I T I S I N N O VAT I O N

7/13/20 9:07 AM

i3 - July/August 2020

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