POWER Steps You Need Post Disaster

By Ivette Mayo – Your POWER Advocate

Here in southeast Texas, we experienced the fury of Hurricane Harvey when it made landfall August 25, 2017. Resulting in what’s possibly is the worst disaster Texas has ever experienced. They say the recovery will take years. Everyone in Harvey’s path felt the impact instantly in their homes, communities and at work. Small-business owners will face many challenges in rebuilding. Taking the right immediate POWER steps post any disaster can make all the difference. About a quarter of small businesses will not reopen following a major disaster, according to the Institute for Business and Home Safety. The Federal Emergency Management Agency (FEMA) said this rate could be as high as 40 percent. Entrepreneurs often overlook preparation for these rare events and focus instead on more pressing daily details, but taking POWER steps to prepare for the unthinkable can be the difference between surviving and failing. Here are POWER steps to consider now as you gear up to recoup or minimize losses to start your recovery process.

Check out SBA site

This is an immediate POWER step that connects you to valuable resources. The Small Business Administration will release a list of local resource partners who can help business owners. The resources will be available here, along with information regarding the SBA disaster loan program.

Call your insurance agent

Contact your insurance agent as soon as you can. The Insurance Information Institute has a step-by-step guide to help you prepare for the claims process and the adjuster’s visit. Have your policy number handy when you call. It’s crucial you file an insurance claim to document that a disaster occurred.

Organize your records

Gather and organize your business records, which will be helpful when dealing with your insurance agent or applying for disaster relief funding. If your records were destroyed, there are ways to reconstruct them.

Focus on:

  • Collecting Invoices dating back at least a year
  • Bank statements that can be used to track deposits and determine sales revenue
  • Last year’s federal and state tax returns
  • Purchase agreement, if you purchased your business from a broker
  • Business contracts

Research recovery financing

The SBA’s disaster loan program provides low-interest loans to businesses of all sizes, private nonprofit organizations, homeowners and renters. As a business, you may apply for up to $2 million in assistance, which will be made up of a business physical disaster loan that covers real estate, inventories, supplies, machinery and equipment, an economic injury disaster loan to cover working capital needs, or a combination. The SBA tries to make a decision on each application within two to three weeks. Applications are reviewed on a first-come, first-served basis, so submit yours as soon as you can.

Watch out for scams

Ask for identification and do your due diligence before working with contractors, business financial lenders or anyone offering assistance. Companies issue employees official photo IDs. Remember, there are not fees/charges associated for any services provided through any disaster assistance program.

Reach out to current customer list

Even through you have been impacted by the disaster, don’t assume your customers have been as well. Reaching out serves three purposes, one it gives you the chance to confirm your customer’s situation. Secondly, it gives you a chance to determine if you can continue to provide your products/services at the same level. And thirdly, this will gives you the chance to identify if you can offer additional value by increasing your service levels. A short email stating you are ready to serve can minimize losses.

Use Social Media to communicate

The POWER of Social Media continues to prove its strength. Reach out to your network as soon as possible to share that you are open and ready to serve makes sense. By canvassing your network, you continue to build a sense of community and it stabilizes your framework for the future. Through social media you continue to engage and build value. Remember social media increasingly play a pivotal role in disaster response, recovery and engagement.

The next disaster

Be it a natural disaster like a tornado or hurricane, equipment failure or even the death or illness of a key business owner or employee, it’s smart to be prepared for the worst.

Here are three POWER steps to prepare your small business for another disaster, an emergency situation or a major slowdown.

  1. Create an emergency fund  – An emergency fund is money you’ve socked away to handle the unexpected. Instead of having to take drastic measures, such as laying off employees or paying vendors late, you can tap into these funds and replenish them when business gets back to normal. Aim to stash away at least 6 to 12 months of expenses.
  2. Open a business line of credit – Of course, not every small business — especially startups with limited operating histories — will be able to stash away 6 to 12 months of expenses. For additional access to capital, a business line of credit could come in handy while you build up your cash reserves.
  3. Make sure you’re properly insured – Small businesses can be protected from losses by the right types and amounts of insurance coverage, which can vary according to the type and size of each business. For example, if you own a building and equipment, you’re more likely to benefit from property insurance than would a business that’s run from a home office. Remember, there should be enough in coverage to replace the property owned by the business and cover the operating expenses of your business in the event you become disabled, plus cover the value of your ownership in the company.

“Not only does your business need to be able to survive a disastrous storm, but you need to have a strategy for when you are rebuilding your business!”

Creating POWERFUL and IMPACTFUL Results!

Ivette Mayo is the President of Yo Soy I AM, LLC, an award winning entrepreneur, business strategist, leadership expert and author. Visit her website www.ivettemayo.com Ivette is always ready to encourage, empower and support you to be POWERFUL in all that you do!  Follow Ivette Mayo on LinkedIn, Facebook, Instagram and Twitter

To schedule your one-on-one session with Ivette, simply send an email to [email protected]

 

 

 

Why COLLABORATION makes you POWERFUL!

Collaboration takes place when two individuals or a group of people work together towards achieving a common goal by sharing their ideas, resources, and skills. With increasing competition in the marketplace, it has become extremely important to encourage entrepreneurs to be open to collaborate in order to improve productivity and results.

Here are important aspects that collaboration brings to the table:

  • Brainstorming – Collaboration allows people to come together on a common platform and work towards the achievement of a common goal by offering various perspectives to provide solutions.
  • Providing Value – Working towards the same goal inspires people with a strong sense of shared purpose. When everyone sees value in working together as the common goal gives them a meaningful reason to work together and to gain mutual benefits for everyone involved.
  • Equal Involvement- Collaboration provides every person with equal opportunities to participate and communicate their ideas and gain success.

Great things happen when collaboration takes place:

It Promotes Self-Analysis

Collaboration challenges people to think, articulate and receive clarity about their competencies. It serves as a mirror that gives them a glimpse of their strengths and weaknesses. Remember, two heads are always better than one.

It Results in Problem Solving

When a variety of knowledge and skills are pooled, it creates a talent pool that is vast and more competent, able and experienced.

It Makes You Look at the Bigger Picture

No two people are the same, and when you have several people from different backgrounds working for you, you will need to know how to leverage those differences and identify how they can complement each other.

It Teaches

Essentially, you learn new things from each other.

It Allows for Cross Promotion

Cross promoting each other business, website or your social media platforms is a great way to grow everyone’s audiences.

“You know when you have achieved success, because you realized what you

wanted and brought someone with you.” – Ivette Mayo

 

Ivette Mayo is an award winning entrepreneur, business strategist, leadership expert, speaker and author. Visit website www.ivettemayo.com Ivette is always ready to encourage, empower and support you to be POWERFULLY SUCCESSFUL. Follow Ivette Mayo on LinkedIn, Facebook and Twitter.

Getting UNSTUCK – It is ESSENTIAL to your success!

By Ivette Mayo

The time has come to become UNSTUCK. There are no more excuses. No longer do you need to delay the things you need achieve. Whether it’s in your business, work, love, spiritual growth, or any other aspect of your life— being stuck is frustrating. You are stationary, yet the world around you is moving and progressing. Being stuck is no fun and has the potential to derail you indefinitely. Knowing this, why aren’t you doing everything in your POWER to remove yourself from this nonproductive state? I know what is holding you back, you don’t know how!

A good place to start is to figure out what kind of state of “stuck” you are in. It’s important to get clear on why you are distracted? Identify what emotions are moving you further away from your goals? What is really keeping you from making real progress? What turns great opportunities in a big mass of uncompleted tasks? The time to shift your thinking and move yourself to ignite the proverbial fire is at hand.

Try these 5 simple steps to help you make the leap.

  1. Ask for HELP!

People often feel that they need to do everything alone. But no one ever does everything alone. Oprah didn’t build her network alone and Bill Gates didn’t build his empire alone. It’s important to remember to seek support when you need it. Create an exchange with a friend, mentor or hire a coach who has some expertise in the area where you are being challenged. Connect the dots and share your challenge with them. Ask for help. Seek clarity!

  1. See the Challenge as an Opportunity

When you focus on what’s wrong, you are likely to continue more of the same negative thinking. Look for what you can find that is right about the situation. Does it open you up to a new network of people? Will you be able to acquire new resources or obtain a hidden lesson? When you begin to see “a gain” in the situation — you will progress. You will begin to see with the eyes an opportunity, which will allow you to see a way around obstacles. Changing your filters!

  1. Modification of Your Daily Unchanging Routine

As creatures of habit, there’s a tendency to run on autopilot. Stop the insanity – doing something over and over again and expecting a different outcome. If you find yourself stuck, try mixing up your existence. Break up daily activities by adding new one. Go for a walk outdoors instead of hitting the gym for a high-impact cardio workout. Sign up for a seminar. Pick up a new audiobook and listen to it while you drive home instead of listening to news. Meditate twice a day for 30 minutes instead of once a day for 10 minutes. By switching things up a bit, allows you to access different parts of your brain, which can increase your awareness and intensifies creativity.

  1. Be Honest With Yourself

Many people sabotage their own process, consciously or unconsciously, as a result of deep-seated fears, negative thoughts and limiting beliefs. Whenever you aren’t able to achieve your goals it’s because there’s a discrepancy between what you say you want and what you’re actually experiencing. Be honest with yourself about what it is you’re trying to accomplish and ask yourself if it’s really what you want. You will be surprised with you results. There is a real connection between what you think, say, believe and outcomes. Change you words – Change your results!

  1. Take Action Every Day

The choices you make every moment of every day truly do matter. When you choose to take positive progressive steps to do little things every day that are in the direction you want to go, you make progress even when essentially you don’t see any immediate gain. It is in those small things, the ones that seem so insignificant, that become compounded over time, and before you know it, you have achieved your goals. Choose small steps!

Creating POWERFUL and IMPACTFUL Results is what I desire for you.

Check out “A 30 Day Guide to your POWER” – Powerful Outcomes through Powerful Results” on GOW Media http://gowmediapublishing.com/products/a-30-day-guide-to-your-power

Ivette Mayo is an award winning entrepreneur, business strategist, leadership expert and author. Visit her website www.ivettemayo.com  Ivette is always ready to encourage, empower and support women to be POWERFUL. Follow Ivette Mayo on LinkedIn, Facebook, Instagram and Twitter.