Here’s a NEW type of post coming.
It’s a behind-the-scenes look into growing and scaling a service-based business.
Do you like getting to know a bit more about LIFT Enrichment how we service 160+ schools and teach over 2,000 kids a week?
Let’s get started!
Here are my tips to SUCCEED during a time of pandemic when you’re a service-based business
Tip 1: Go Virtual (For LIfe)
This may seem obvious, but it’s with a twist.
Most education-businesses can setup a virtual classroom without too much fuss and this opens up the WORLD to what you do!
However, this is not a one and done event (like our virtual after-school cooking classes this Spring – LINK)
Instead, use this opportunity as a case-study. Trust me, LIFT Enrichment will be launching virtual after-school cooking classes for the next 10 years! It’s great work for our chefs, and we can now help kids all over the world
Tip 2: Focus On A Launch RIGHT NOW
Most people are looking ahead at the next 3-9 months and you SHOULD DO THAT.
However, we’re focused on our April 21st (Tues) launch of our Kids Can Cook live spring session (link)
It’s something that will help us RIGHT NOW and it gets the team rallied behind a cause that can provide value to parents and kids, boost revenue and supply work for our chef teachers. A true win-win-win.
Tip 3: Get Help (and cash!)
Cash is King so we’re getting a line of credit setup AND applying for the SBA Loans.
Even if a small portion of that loan is forgivable, the cash is good to have and the interest rates are ridiculously low.
But we’re not JUST getting the SBA loan, we’re also re-establishing a line of credit.
Cash is king!
Tip 4: Cut back and BUDGET
A sad truth is that we are running on just the bare-bones crew we need. When we’re up and running at full capacity in the Summer and Fall, we’ll bring back some furloughed internal staff AND all our lovely Chef Teachers.
Until then, hard decisions were made on who to keep on.
I made these decisions based on our vision: Help 1 million students nationwide by 2020.
Anyone who could help fulfill leadership positions and had a GROWTH-mindset stayed on. Anyone who was part-time or adverse to change or just was difficult to work with was gone.
Tip 5: Stay Positive and Surround Yourself with Like Minded People
I’ve got entrepreneur friends and a lot are FREAKING OUT.
However, I’ve got others who are excited to use this time to try something new (because you have to!)
I’m having regular calls and emails with those people to stay motivated.
Meanwhile, other people are looking at just cutting expenses and getting the loan with ZERO plan on what to do with the cash other than wait it out until things get “back to normal”
When tough times happen, the ambitious entrepreneurs step up, smile and get to work.
Did you like this type of email that’s an inside look into a small businesses in the education/service industry?
Reply back if so!
P.S. If your want your kids making you steak dinners in the future, join our 5-week Virtual After-School Cooking Class and get $400 in bonuses! (LInk Here) Starts Tues, April 21st for the first 20 signups.