CBay Advisory Group

05/06/2020

Small Businesses Adapt, Plan for Growth Amid Pandemic Struggles

In a most recent poll, one in five businesses reported that they were two months or less away from closing permanently, and one in three has had to temporarily close. — Getty Images/FG Trade.

As COVID-19 continues to impact daily life, small businesses are trying to adapt in any way they can to weather the economic fallout. Already, 27% of small businesses have reported cutting their hours in response to the pandemic, and 19% have had to adjust employee salaries and hours.

A poll conducted by MetLife and the U.S. Chamber of Commerce found that small businesses are seeking loans, cutting hours, and managing concerns about how to keep their employees and customers safe.

The pandemic has definitely had an impact on SMBs. One in five reported that they were two months or less away from closing permanently due to the pandemic, and one in three has had to temporarily close in the last two weeks.

CBay Advisory Group has years of expertise in helping small businesses survive and thrive in difficult times.

01/06/2020

Billionaire Mark Cuban is hopeful the U.S. will "come out ahead of the game" after the coronavirus outbreak, largely because of the entrepreneurs who will build world-changing businesses during the extended lockdown.

With millions of people left jobless by the restrictive policies keeping businesses shuttered and consumers sheltered in their homes, the entrepreneur told Yahoo Finance on Friday that despite “the horror of it all, this is the best time ever to start a business.”

Cuban, who’s flirting with a 2020 presidential bid, declared: “And there's no country in the world that's better at starting companies, that has more entrepreneurs, that has a greater entrepreneurial spirit than the United States of America.”

The 61-year-old owner of the Dallas Mavericks and investor on "Shark Tank," predicts that the U.S. will look back on this turbulent time and realize that "25 or 50 world-class companies that were created specifically because the pandemic of 2020 happened, things that change the world."

He added that now is the perfect time to step up and build those businesses.

05/05/2020

WHAT CUSTOMERS WANT TO KNOW ABOUT YOUR BUSINESS DURING A CRISIS:
• Your new hours
• How can they still purchase from you, how to place orders? Is there a way to setup an online portal to allow people to buy online and pay online?
• How can they pay you? You may have to set up PayPal or some other form of online payment.
• How will their product or service be delivered?
• What’s happening to any pre-scheduled events that are now postponed or cancelled?
• What actions can customers take online?
• What’s the best way to get in touch with you?
Write up all of these items as a Frequently Asked Questions page and get it up on your website ASAP. This way you can share that link in all of your future communications.

20/04/2020

16/03/2020

STARTING A NEW SMALL BUSINESS?
Countless people dream of becoming entrepreneurs, but they never do. They’re burdened with excuses and fears of failing. From money to time to responsibilities, you can make a million cases for not starting a business.

Let’s face it, being your own boss is scary. In most cases, new business owners have a lot to lose with little insight into their chances of success. Worrying about the risks of business ownership is normal.

But excuses only slow you down from reaching your goals. If you really want to start a business, you need to address the reasons you think you can’t start a business and get rid of them. Find a solution to the issue rather than let it hold you back.

Need help to avoid costly mistakes and delays? This what CBay Advisory Group has been doing for more than 15 years.

Take advantage of an initial no charge consultation to help you start or stay on track.

04/03/2020

Most new businesses need startup and operating capital to get off the ground. Without a well-developed business plan, there is no chance of getting debt financing from established financial institutions such as banks or equity financing from angel investors.

Established businesses often need money, too, to do things such as buy new equipment or property, or because of market downturns. Having an up-to-date business plan gives you a much better chance of getting the money you need to keep operating or to expand.

Investors and financiers are always looking at the risk of default, and word of mouth is no substitute for written facts and figures in a properly prepared business plan.

CBay will write a business plan for you and with you, and then help you find and receive the financing you need.

26/02/2020

Most businesses try to grow for the sake of growth and, in doing so, forget about the importance of establishing a strong foundation that can withstand the downward pressure that's applied when there are more resources to manage, prospects to chase down, customers to keep happy, and money to allocate. You don't want to make these same scaling mistakes. Contact me, your hands-on business advisor, for a no cost initial consultation so I can show you how to grow without pain.

13/12/2019

Great opportunity for a mechanical engineer looking to make a change. Position focuses on building commissioning and energy audits. Local travel, excellent salary dependent on experience, plus healthcare and 401k benefits.

16/08/2019

Managing the Chaos of Growth

Growth is good. However, growing too fast is arguably worse than staying put a little longer than you should. Yes, under certain circumstances, temporary stagnation can be better than premature growth. That’s not something everyone will agree with, but it’s a truth that’s supported by dozens of case studies and business obituaries over the decades.

I have a successful track record in managing growth without stagnation. Please refer to me a small business that you know and tell them you know a guy who is an expert at growing companies without pain.

Most businesses try to grow for the sake of growth and, in doing so, forget about the importance of establishing a strong foundation that can withstand the downward pressure that’s applied when there are more resources to manage, prospects to chase down, customers to keep happy, and money to allocate.

You don’t want to make these same scaling mistakes.

17/01/2019

I am pleased to be the Chair of the Greater Crofton Chamber's new Business Advisory Council. I will present to members on the third Thursday of each month with topics that small business owners will find both informative as well as helpful for their business.

Here is a partial video of our first meeting to a small intimate group. Each month we hope to see more members take advantage of this new Chamber offering.

07/07/2018