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Gerber Financial Advisors


GROWTH WITH PURPOSE: THE RIDE OF AN FGE BEFORE AND DURING COVID-19

April 23rd, 2020
 
You knew when you started your business that the ride would be crazy and unpredictable. But nothing could prepare you (or us) for what we are facing today with the COVID-19 crisis.
 
The ride of the FGE begins with the intoxicating stage - one of the best feelings out there. You're excited because the business is yours. You're innovating, and doing something unusual and different.
 
Then all of a sudden you enter the trapped stage - you realize that this is really hard. You always knew it would be, but you didn't know how much. You feel trapped because you are too far along to back pedal (not that you would want to anyway), but you can't get out.
 
Brute force gets you through to the light at the end of the tunnel stage, where you can see the end but you still need to figure out how to get there. After experiencing a wide range of emotional highs and lows, frustration and burnout, you gradually enter the acceleration stage where your business takes off, and the sustainable stages where your business is succeeding and stable.
 
We've been working with FGEs for over 30 years, and we've learned that the cycle repeats itself. It's probably repeating itself for you right now as we are all facing the unknown.
 
 
Source: Gerber, LLC
 
Look at the chart, and rate where you are today with your business on a scale of 1 to 10. Is it different from where you were earlier this year, before COVID-19 even entered our vocabulary? Is it different from where you were this time last year?
 
Many of us probably feel that the COVID-19 crisis has plunged us right back into the trapped stage. We're trapped by what's happening in the world. We're trapped by what our state are mandating. We're trapped by how our employees are feeling. We're trapped financially.
 
COVID-19 has had a profound impact on businesses large and small, and consequently, their families.
 
However, I do believe this crisis presents an enormous opportunity to reinvent your business and your relationship with your business. This is a time where innovation and brute force will get us through. There is probably new meaning behind growth with purpose in this new paradigm, as well as a new definition of what prosperity means. It's more important that ever to grow your company with purpose, and not grow for growth's sake.
 
Being an entrepreneur is an unusual and lonely place, but we've worked hard to create an ecosystem of other entrepreneurs who understand and support you.
 
We're in this together, and we're here to help you navigate this cycle no matter what stage of the ride you are in.
 
How has your ride as an FGE changed during the COVID-19 crisis? Share with us on Facebook, Twitter and LinkedIn!


INDEX
  • WHAT WE KNOW: RESTAURANT & BAR REOPENING UPDATE
  • WHAT'S CHANGING WITH THE PPP
  • THE BENEFITS OF GROWING YOUR BUSINESS AT THE RIGHT RATE
  • HOW TO DETERMINE YOUR GROWTH RATE
  • HOW TO RESET YOUR GROWTH MODEL IN RESPONSE TO COVID-19
  • GROWTH WITH PURPOSE: 4 REALITIES THE COVID-19 PANDEMIC HAS EXPOSED FOR SMALL BUSINESS
  • GROWTH WITH PURPOSE: SOLIDIFYING YOUR CORE VALUES IN THE WAKE OF COIVD-19
  • GROWTH WITH PURPOSE: THE RIDE OF AN FGE BEFORE AND DURING COVID-19
  • GROWTH WITH PURPOSE DURING COVID-19: DON'T GROW FOR GROWTH'S SAKE
  • COVID-19 RESOURCE GUIDE
  • THE NEW TEMPORARY NORMAL
  • WHAT WE KNOW: RESTAURANT & BAR UPDATE
  • CONDUCTING BUSINESS IN THE MIDST OF THE COVID-19 OUTBREAK
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