I was recently a guest on B2B Growth’s podcast discussing how to use the CARES Act to your agency’s benefit. I hope you take a few minutes to look at the overview of this podcast and listen to the full episode soon. I look forward to hearing what you think! Sweetfish Media — Paycheck Protection Program: What it Means for Your Business Let’s talk about the CARES Act—the federal government has approved a $2 trillion relief bill. One aspect of this bill is the Paycheck Protection Program. Through this, we do not have to let our employees go due to lack of income. By presenting simple documents showing your expenses, you can apply for a forgivable PPP loan. The loan is 2.5 times your monthly expenses (loaded salaries, utilities, rent, mortgage, etc.). That amount (times 2.5) will be deposited into your checking account. As long as you do not change your staffing in those 2 months, the loan is forgiven. Two trillion dollars sounds like a lot of money, but remember the money is scattered into several subcategories within the CARES Act. Talk to your CPA, call your banker, and apply as quickly as possible so you can get your share of money before it runs out. The goal is no debt; you have to try not to go into the red this season. Use the resources the federal government is providing to care for your business, your employees, and yourself. We want to be a resource to agencies as we all manage our way through this pandemic. We have resources available to you on our website here. This podcast was originally published on sweetfishmedia.com on April 2, 2020.

I was recently a guest on B2B Growth’s podcast discussing how agencies can still prosper during COVID-19. I hope you take a few minutes to look at the overview of this podcast and listen to the full episode soon. I look forward to hearing what you think! Sweetfish Media — Surviving COVID-19 Working from home is changing how our industry functions every day. I have seen agencies gain more clients or working time as a result of COVID-19, but I have also talked to agency owners who have lost close to half of their clients because their specific market is no longer needed during this pandemic. There are also some agencies that fit right in the middle, who have not seen any loss or gain. In all of these scenarios, working from home during a pandemic is altering how our industry functions and who is coming out for the better. Right now, each agency is like a ship that is getting pummeled in a storm. For some of us, it’s the roughest storm you have sailed through; others have been through worse. Our goal is to make it to calm waters alive. To do that, we must remain calm, confident, and compassionate while surrounded by chaos. Unfortunately, we will have to make sacrifices in one way or another. Some clients will leave, and some employees might be unsatisfied with their amount of work right now. Remember that we are all going through challenges right now, and we must show up as strong leaders.  Let’s focus on metrics, specifically your Adjusted Gross Income (AGI). Fifty-five percent of that goes to loaded payroll, 25% is spent on overhead, and the last 20% should be profit. For those [...]

The COVID-19 crisis has literally turned our world upside down. This virus, like nothing before it, has managed to disrupt economies and ruin entire corporations while leaving tens of millions of people without jobs. However, companies were "constrained" to become more client-savvy and improve their communication on social platforms.  From a social-media point of view, this crisis has brought a whole new level of communication changes. The way businesses are able to communicate with their partners and clients is key if they want to get through this period unscathed.  The problem is that, for most businesses out there, their communication during the crisis tends to suffer quite a lot. Most businesses choose to respond negatively to impossible situations. This in turn escalates and makes them lose precious capital, both in the form of partners and fans. However, there are certainly many companies that have managed to take advantage of this crisis and improve their communication with their fans.  In order to shed some light on this subject, the marketing specialists from Socialinsider have put together a complex study that shows how brands are actually managing their communication during difficult periods such as this one.  This study looks in-depth at how brands communicated at the beginning of the pandemic and how their shift changed as the pandemic has started to negatively impact the Western Society.  While each industry is slightly different, with some industries being completely shut down and others booming, there is a common thread across all industries, which is the need for proper crisis management.  Well-worded posts, responsible communication, transparency, and a good dosage of positivism are essential for any company that really wants to thrive during COVID-19.  In order to create this extensive [...]