Experienced Insights: Attorneys Tell Us What They're Seeing Their Small Business Clients Do Well
Continuing the Experienced Insights series, NMBL Strategies reached out to several lawyers to gather insights on how small businesses are operating during the COVID-19 pandemic. We asked four lawyers working in the midwest three questions in order to learn more about what they think are winning and losing strategies for small businesses in the midst of a pandemic and economic uncertainty. The first question we asked seeks to understand what small businesses did that helped them succeed during the pandemic. By understanding these successful strategies, other small businesses can gather insights into what worked in the past and how those strategies can be adapted to their situation as COVID-19 continues to impact our lives. Here’s what they had to say:
What is one thing you're seeing small businesses do well during COVID?
“Reviewing contracts to find ways to reduce/eliminate overhead. Everything is up for renegotiation.”
- Patti Williams, Lex Valorem, LLC
“Some of my smaller clients who have lost business have taken advantage of slowdowns resulting from COVID to reassess operations, staffing and workflow. Smaller manufacturer have shifted to different product lines to take advantage of increased demand in certain areas (PPE, hand sanitizer, etc)”
- Nick Gingo, Renner, Otto, Boisselle & Sklar, LLC
“Stay in touch with their employees”
- Andy Glaser, Sandberg Phoenix
“Adjust to new challenges”
- Eric Peterson, Spencer Fane, LLP
In sharing what they see small businesses doing that is successful, these four lawyers each offer unique pieces of advice. The broad range of insight offered reveals that there is not a single path to succeeding during a crisis, but rather success comes from performing well in several ways. There are many avenues that add to a businesses’ success from finding budget-saving opportunities, connecting with your team, staying flexible, and rethinking your offerings. Some of these will work for your business or some may have already been in place; figuring out where your business has opportunities to improve and applying these strategies is a good first step in moving forward.
NMBL Strategies seeks to empower small businesses, nonprofits, and public-private enterprises through trusted consulting partnerships. Our consultants have real-world experience and significant tenure within their fields and are able to deliver the best and most strategic return on investment. Learn how we can help grow your organization today.
