By James Pruitt, Senior Staff Writer

The Pandemic has given us the term “the New Normal.” The new “work-from-home” paradigm also entails the term “Digital Nomad.” Are “Digital Nomads” synchronous with “the New Normal?” Many define “Digital Nomads” as workers with the independence to produce anywhere, anytime. 

“The New Normal” developed at the outbreak of the Pandemic, only a year and a half ago, and provides workers the flexibility to work at home as necessary. “Digital Nomads” are nothing new. However, these “extreme” remote workers have seen their roles expand and develop considerably during this period.

A few small countries have even started allowing “digital nomad” visas for workers who want to “work in paradise.” These countries include Bermuda, Mauritius, and Montserrat, as well as several European countries. But is a “digital nomad” really the same as a hybrid worker? Let’s flesh this out.

Who are Digital Nomads?

“Digital Nomads” live out-of-reach of their office headquarters. Younger workers, as well as retirees, have increasingly adopted these arrangements. Many employers have decided to focus on output rather than “presenteeism” Such arrangements have even become more common indirect employer-employee relationships, and are no longer the sole domain of freelancers and casual workers.

Communication Issues

Such an arrangement could be perfect for many business relationships. Other relationships, not so much. Good candidates for “digital nomads” may include creative workers using their own resources, as well as positions with limited client contact. Such “extreme” remote positions should allow relative independence from management. 

“Digital nomads” are not people who need detailed instruction in office processes. Oftentimes, such workers are creative workers who function successfully as their own mobile small businesses. Workers who might need to be called into the office periodically are not good candidates for “remote work visas.”

For example, in some cases, an employer may require a worker’s presence in an in-person client meeting. Successful employers and contractors foresee these demands before committing to arrangements such as, for example, procurement of a remote work visa.

Security Issues

Employers should consider possible security breaches when considering the scope of remote relationships. Some workers may have access to secure information. These workers may need a closer relationship with their home base. For example, each device containing secure information presents a security risk. Assuming the presence of sensitive information, loose monitoring of such devices is bad practice.

Expenses for Remote Work Visas

A visa for “working in paradise” generally costs several hundred dollars for the visa itself as well as proof of income. “Paradise” can include diverse remote island countries as well as several European countries including Germany, Portugal, Iceland, and Croatia. Each country offers its own price for the visa itself, in addition to income thresholds levels to prove robust links with the employer.

“Hybrid Workers” versus “Digital Nomads

Business owners should distinguish between workers who might qualify for “hybrid roles” and workers who might become full-blown “Digital Nomads.” “Digital Nomads” can work in far remote locations with no physical contact with management. The employee’s role should be established and meticulously carved out before initiating an entirely remote arrangement. 

VAMBOA, the Veterans and Military Business Owners Association hopes that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

By James Pruitt, Senior Staff Writer

Who knew? Labor and supply shortages are creating havoc and cursing small businesses now more than ever, especially in the wake of reopening. Behemoths such as Amazon and Walmart have their safety nets. Smaller establishments must struggle with what they have. As a result, gaps in service plague the reputations and growth of their smaller counterparts.

Unfortunately for Veteran Business Owners, the Bureau of Labor Statistics reported 8.1 million job openings at the end of March, a new record. The pandemic only exacerbated a preexisting trend, and the reasons vary. 

Suggestions have included a lack of training opportunities, supercharged unemployment benefits, a mismatched skill set, and fear due to the pandemic for many. Whatever the cause, a shortage of qualified workers has left employers in the lurch despite a continuously shrinking workforce.

Gaps in service are a result, often leaving angry customers. This anger often shows up online. These days, an online presence can make or break a company. Angry reviews can pose real threats to a struggling business.

The trend nowadays is for buyers overwhelmingly to check their business’ online presence. How can business owners minimize angry diatribes on forums such as Yelp, Bing, Google My Business, and Facebook? Small employers are finding themselves trapped between the rock of the labor shortage and the hard place of customer satisfaction. The best short-term fix is better communication.

Business owners should build trust with their client base. Patrons should understand that they can work with the management of a company. These kinds of positive working relationships best protect smaller businesses from online reputational issues, which may leave business owners feeling helpless in their marketing efforts. Good working relationships often rest on a foundation of good communication, one of the variables that managers may control in this economic environment.

Methods of communication may vary. Updating profiles on relevant online business platforms is an easy first step. The business’s profiles on the above online platforms should provide up-to-date hours and terms of service. When possible, these sites should also include explanations for any changes in these terms. Additionally, a business owner should address any negative reviews directly as soon as possible.

Some verbal strategies can improve the outcome of discussions with a dissatisfied customer. For example, first, the person in charge should remain calm during a confrontation. Second, active listening can demonstrate that the manager understands the grievance.  Active listening methods generally emphasize engagement in the discussion. In other words, managers should not remain passive targets in these matters. One such technique may involve rephrasing the complaints in a manner that demonstrates a genuine understanding of the customer’s issues with their service. 

Finally, management should demonstrate their understanding of the weight of the problem and if possible, let the customer know the relevant steps for resolving such issues in the future.

Early communication with dissatisfied customers may prevent escalation or even an angry Yelp review. Overall, the goal is a synergy between the needs of the client and the capacities of the owner. During these novel times, business owners should engage any necessary communication techniques to achieve a meeting of the minds that leaves all parties satisfied and at peace.

VAMBOA, the Veterans and Military Business Owners Association hopes that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here: https://vamboa.org/dell-technologies/ 

 

By James Pruitt, Senior Staff Writer

With relaxed social distance requirements, business owners have seen many pandemic challenges flip-flop. Suddenly, proprietors cope with stir-crazy patrons chomping at the bits to leave the isolation of shelter-in-place requirements. Many establishments have rarely seen demand increase so rapidly. Unfortunately for business owners, many low-wage jobs remain unfulfilled, and inventory has run dry.

Everyone is playing catch-up and vying or the same inventory and talents.  It is very competitive.

How can businesses compensate for shortages in labor and inventory? As expanded unemployment continues, many workers still opt to collect rather than rejoin the workforce. Adding to the labor shortage, months of quarantine have led to some product shortages. However, during this period of demand exceeding supply, various strategies can manage white-hot growth even with a skeleton crew.

Expanded roles may compensate for vacancies. Efficient use of entry-level workers need not confine them to boring, unstimulating daily routines.  Increased workload may necessitate diversified job descriptions. Many new employees have usable education or expertise outside their entry-level job descriptions. Further training may help businesses fill needs for diverse roles while helping employees reach their potential. As icing on the cake, such opportunities for professional development may lead to fruitful relationships long-term.

It also makes sense to look and think out of the box when recruiting new employees.  Many potential employees welcome working remotely and with today’s technology and a good work ethic, this can and does work.  It is important to many as they reevaluate their quality of life.

Additionally, consider hiring Veterans.  They are disciplined and have an extraordinary work ethic.  Additionally, there are significant tax credits from $2,400 to $9,600 on many hires depending on the specifics.  You should also consider hiring members of the National Guard and Reserve who can be activated but make outstanding hires.

As demand rises, inventory may run tight. In such a case, consider streamlined use of resources. Technological developments may help. Some managers automate inventory management with algorithms that predicts when and how much product to buy. Several apps utilize various such algorithms.  Quickbooks Desktop Enterprise, Paragon SMB, Katana, and Brightpearl may provide valuable tools. Careful accounting for inflow and outflow of inventory minimizes shrinkage and ensures optimum resource use.

After the COVID debacle, many people just want to get out. Some business owners have noticed the increase in demand over the past few months. Sixteen months of “stay-in-place” orders” have left people starved for entertainment, dining, and even the presence of others. During those sixteen months, a worldwide economic hiatus let the “consumerist well” run dry for many product-thirsty consumers. Production slowed, and workers stayed at home. Buyers stayed in place. The recent surge in demand presents an invaluable opportunity for business owners as well as their employees. During this recovery period, everyone can gain from professional development opportunities as well as the chance to streamline business processes.

While demand does exceed supply, consider the opportunities for business development in the meantime. We all want good service and high-quality products. Additionally, challenges keep proprietors on edge. This window provides a golden opportunity to ensure the wheels are greased as the machinery of your business going forward.

In short, relaxation of COVID-era restrictions provides priceless opportunities for both small business owners and their workers. Beforehand, many larger companies did not know how to utilize every lot of inventory, or each one of their employees. However, technological innovations have provided the tools to create better companies. The recovery from COVID can provide the impetus. Each of the two can lead to business processes that improve life not only for consumers, but for business owners and their employees as well.

VAMBOA, the Veterans and Military Business Owners Association hopes that this article has not only been valuable but provided some unique perspective.  We work hard to bring you important, positive, helpful, and timely information and are the “go to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:

https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

Do not forget that VAMBOA members receive significant discounts on technology needs.   Check them out here:

https://vamboa.org/dell-technologies/

 

By James Pruitt, Senior Staff Writer

• The Pandemic is the Time to Snag Deals for your Business:

Sadly, many businesses will fail during the pandemic. Inventory from these businesses may spread far and wide across the market. Bargain hunters can rejoice. Like a phoenix arising from its ashes, new businesses can feed on the detritus from this economic event.

The pandemic has slowed or even shut down sectors of the economy. This downtime can provide opportunities to adapt to changes to come. Failing businesses from this past cycle may provide starter kits for new endeavors going forward. A veteran business owner may have discovered a recipe they can sell online. Perhaps a restaurant has failed and must unload cooking equipment. A budding home entrepreneur can make a deal to each party’s mutual benefit.

Looking for a cheap forklift for your new warehouse? Google it, or check MachineryTrader.com.

Paradoxically, dire economic circumstances provide opportunities to adapt and flourish in a new environment. As the marketplace changes, feel free to take advantage. The pandemic has spilled cheap equipment and inventory widely across the economy. Efficient use of these resources helps everyone.

• Opportunities to Adapt to New Paradigms:

On a related note, consider the nature of new businesses post-pandemic. The “downtime” from this economic shutdown may provide opportunities to consider new directions moving forward. Especially notable, experimentation with “at-home work” has called the traditional workplace into question. Furthermore, the pandemic has accelerated the digitalization of economic life.

Shares of companies such as Zoom and Netflix ballooned after March of 2020. Consider the topography of the economy in years to come. What about the next time consumers must “shelter in place?” What companies will support these new demands as further crises occur? What companies will support these companies?

With the Pandemic, we are seeing shifts in company operations. COVID-19 forced

experimentation into new workplace paradigms. Few could have expected such a rapid shift to a work-from-home model.

The spark of inspiration can strike like a bolt of lightening upon consideration of the new economic landscape that faces us.

• Opportunities to Acquire Businesses:

Great opportunities abound for the purchase of smaller businesses.  With these sales come all the attendant intellectual property, networks, logos, and attendant goodwill.

An entrepreneur with a new idea may find diverse reasons to purchase a company in this market. The brilliant idea of the next new business owner may have a near-doppelganger elsewhere. A similar business may have filled a similar niche that became obsolete.

One classic example may be a brick-and-mortar music store that lost its market share with the rise of online streaming. It would be a shame to waste the resources of that business as they become less successful in a shifting economy. Sometimes, in everyone’s interest is the optimal use of that company’s resources. Mergers and sales may preserve the dynamism of these venues. Many such businesses are ready for changes in management in the wake of the pandemic.

The Bottom Line:

The pandemic has affected some profound developments in the economy, and accelerated others. Such is the nature of economic change. In everyone’s interest is a dynamic, conscientious engagement with these changes. Whether exploring new ideas or re-purposing older resources, veteran entrepreneurs can look forward to endless opportunities in the years to come.

VAMBOA, the Veterans and Military Business Owners Association hopes that this article has been helpful.   We work hard to bring you important, positive, helpful and timely information and are the “go to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA

 

By James Pruitt, Senior Staff Writer

Various local resources supplement private and public nationwide programs. Like their counterparts, these programs may come from the government, nonprofits, and private corporations. Many states have go-to websites that collect available information about resources available to small businesses during the pandemic. Additionally, the SBA offers special programs designated states where gaps in service continue.

We hope this article will provide a valuable guide for you.

Alabama

Altogether: https://altogetheralabama.org/

Alaska

Alaska Small Business Development Center COVID-19 Resource Center:  https:// aksbdc.org

Arizona

Arizona Together: arizonatogether.org

Arkansas

Resources for Arkansas include the Arkansas Small Business and Technology Development Center (asbtdc.org) and the Arkansas Quick Action Loan Program (arkansasedc.com).

California

California provides various websites to guide business owners through the pandemic. These sites tend to be city-based. Among them are the San Francisco Office of Economic and Workplace Development (owed.org), Sacramento COVID Relief (sacramentocovidrelief.org), and Los Angeles offers ewddlacity.com. This site provides information on microloans.

Colorado

Colorado offers one useful resource for the entire state: choosecolorado.com. The other is specific to the Denver area: denvergov.org. Both include useful information about coronavirus.

Connecticut

Connecticut provides one site that provides COVID-19 information for the entire state (portal.ct.gov). COVID-19 information figures prominently on this general government site.  Inquiries about further resources can be sent to DECD.COVID19@ct.gov.

Delaware

Delaware has a government site that can help (Delaware.gov). In addition, the Hospitality Emergency Loan Program (HELP) has been set up to help businesses within that industry. Useful websites are www.delbiz.com and de.gov/coronavirus.

Florida

The Florida Small Business Emergency Bridge Loan Program sometimes lends between $50,000 to $100,000. Loans are interest free for one year. Afterward, interest rates rise to 12%. See deorsera.force.com for more information.

Georgia

Invest Atlanta has created the Business Continuity Loan Fund (BCLF). Their website is investatlanta.com.

Hawaii and Idaho

Business owners in Hawaii are referred to the Small Business Administration (sba.gov). The SBA offers businesses in designated states and programs special loans to those affected by the virus.

Illinois

A local resource for Chicago is the Chicago Small Business Resiliency Fund. See Chicago.gov for more information.

Indiana

The Indiana Small Business Development Center should provide COVID-19 guidance. (isbdc.org.)

Iowa

The Iowa Small Business Development Center (iowasbdc.org) is a good resource.

Kansas

Gotopeka.com is a great local resource for the Topeka area of Kansas. Go Topeka recently announced up to $2 million for business workers in Topeka and Shawnee County.

Kentucky

The Kentucky Small Business Development Center is a great resource. Ksbdc.org provides extensive referrals for COVID-19 relief as well as other small business concerns.

Louisiana

The go-to website for Louisiana small business owners is LED (Louisiana Economic Development) at opporetunitylouisiana.com.

Maine

Maine.gov provides extensive information on both federal and state resources for small businesses during the pandemic.

Maryland

The Maryland Department of Commerce (commerce.maryland.gov) has been emphasizing COVID resources on its website.

Massachusetts

Massachusetts businesses can find useful information at mass.gov, another state government site emphasizes coronavirus relief.

Michigan

The state government has provided its own grants and loans to small businesses affected by COVID-19. See michiganbusiness.org for more information.

Minnesota

The Minnesota Chamber of Commerce provides updates about COVID-19 resources. See MNchamber.com.

Mississippi and Missouri

Refer to sba.gov for relevant programs. The SBA offers businesses in designated states and programs special loans to those affected by the virus.

Montana

The state government programs for are on dli.mt.gov.

Nebraska

The Nebraska Chamber of Commerce and Industry has a “Coronavirus Toolkit for Businesses & Industry): nechamber.com.

Nevada

Nevada is another state where the SBA is the best resource. The SBA offers businesses in designated states and programs special loans to those affected by the virus.

New Hampshire

Small business owners can find help at the NH Department of Business and Economic Affairs, nheconomy.com, The Small Business Development Center of New Hampshire (nhsbdc.org) also provides resources tailored to New Hampshire.

New Jersey

New Jersey offers a special waiver to stay open in case of any lockdown situations. A waiver can be submitted to the business.nj.gov team.

New Mexico

New Mexico is another state where small business owners are referred to the Small Business Administration (sba.gov). The SBA offers businesses in designated states and programs special loans to those affected by the virus.

New York

The New York City Small Business Continuity Fund provides loans for businesses with fewer than 100 employees.

New York offers various programs. The New York City Employee Retention Grant Program offers grants that cover 40% of payroll expenses for up to two months for select businesses. Their website is www1.nyc.gov.

The New York Small Business Development Centers offer counseling, training, and research. (nysbdc.org).

Entrepreneurship Assistance Centers are a great resource for smaller New York communities. (esd.ny.gov).

Community Development Financial Institutions throughout New York can provide various resources. (esd.ny.gov).

North Carolina

The go-to resource in North Carolina is the North Carolina Business Relief Resource Guild at dpnc.com.

North Dakota

The Greater North Dakota Chamber of Commerce has created this page as a go-to page for small businesses: ndchamber.com. The North Dakota Development Fund also provides loans as needed. (ndresponse.gov).

Ohio

Refer to sba.gov for relevant programs. The SBA offers businesses in designated states and programs special loans to those affected by the virus.

Oklahoma

The Oklahoma Department of commerce has a go-to page for small business owners affected by the pandemic. This page is okcommerce.gov.

Oregon

Various local resources in Oregon address coronavirus concerns. These include the Beaverton Emergency Business Assistance Program (beavertonoregaon.gov), the website for Hillsboro, Oregon (hillsboro-oregon.gov), and the Asian Pacific American Network of Oregon, which provides information to Portland-area residence at apano.org.

Pennsylvania

Several government and private resources in Pennsylvania offer coronavirus relief. The Wolf Administration has announced another round of state funding. See dced.pa.gov for details.

The Pennsylvania Industrial Development Authority’s Small Business First Fund offers a list of resources for Pennsylvania resources during the pandemic, according to governor.pa.gov.

Comcast seeks to offer to make Xfinity Wifi free to needy customers. See corporate.comcast.com for details.

PECO, a power company, has provided resources for customers during the crisis. See peco.com for details.

Other resources include the Pennsylvania Department of Community and Economic Development, at dced.pa.gov, and the Philadelphia COVID-19 Small Business Relief Fund at phila.gov.

Rhode Island

Business owners in Rhode Island are referred to the Small Business Administration (sba.gov). The SBA offers businesses in designated states and programs special loans to those affected by the virus.

South Carolina

The South Carolina Department of Commerce provides relevant information. See sccommerce.com.

South Dakota

The government site for coronavirus relief in South Dakota is dlr.sd.gov.

Tennessee

The Tennessee Department of Economic & Community Development is the go-to resource for coronavirus relief. See tn.gov for details.

Texas

The Texas Economic Development Department provides information on coronavirus relief for small government. See gov.texas.gov.

Utah

the Salt Lake City Emergency Loan Program offers zero interest loans to small businesses. See slc.gov for details.

Vermont

The Virginia government resource for coronavirus relief for small business is the Agency of Commerce and Community Development COVID-19 Resource Center. See accd.vermont.gov.

Virginia

The Virginia Chamber of Commerce provides diverse coronavirus resources. See vachamber.com for details.

A nonprofit group, the Virginia 30 Day Fund, is another resource for companies in Virginia. The goal of this organization is to save as many Virginia jobs as possible pending federal relief. Their website is va30dayfund.com.

Washington

The Seattle Office of Economic Development Grants Program offers grants to businesses affected by the pandemic who make 80% or less of the area’s median, five or fewer employees, and have a physical location. The same office will provide help with utilities as well. Their address is durkan.seattle.gov.

Also, the Washington Small Business Development Center provides a “Business Resiliency Toolkit” that provides resources for Washington area small businesses during the pandemic. See wsbc.org.

Amazon is one private business that will provide aid to small businesses. They are creating a $5 million Small Business Relief Fund to provide cash grants as needed to Seattle small businesses. See aboutamazon.com.

Washington D. C.

The Greater Washington Community Foundation provides a COVID-19 Emergency Response Fund. See thecommunityfoundation.org.

Also see wdcep.com for resources courtesy of the Washington DC Economic Partnership.

West Virginia

The go-to website for small business resources in West Virginia is nfib.com. This website is run by the local branch of the National Federation of Independent Businesses (NFIB).

Wisconsin

In Wisconsin, the Small Business 20/20 program provides grants to community development financial institutions, which in tern will award grants up to $20,000 to existing loan clients. Their web site is wedc.org.

See their website for this and other programs related to COVID-19.

Wyoming

The go-to resource in Wyoming is the Wyoming SBDC. Their website is wyomingsbdc.org. “Check for COVID-19 Resources and Strategic Advising.”

 

VAMBOA, the Veterans and Military Business Owners Association hopes that this article has been helpful.   We work hard to bring you important, positive, helpful and timely information and are the “go to” online venue for Veteran and Military Business Owners.  VAMBOA is a non-profit trade association.   We do not charge members any dues or fees and members can also use our seal on their collateral and website.   If you are not yet a member, you can register here:  https://vamboa.org/member-registration/

We also invite you to check us out on social media too.

Facebook:  https://www.facebook.com/vamboa

Twitter:  https://twitter.com/VAMBOA