Go All In

This is the second installment of a seven part blog series called “Keys for a Comeback” written to help businesses and non-profits dealing with challenges due to COVID-19.

While workers in some industries have been looking for hobbies to occupy their time during imposed isolation, executive directors, entrepreneurs and business-minded individuals know that, “a little sleep, a little slumber” could mean the end of your enterprise. Similarly, the way out of this dip in sales is not to rest or simply wait it out. Now, more than ever, is a time to invest. 

I’m not talking about investing in the stock market or real estate (although not bad ideas either), I’m referring to reinvesting in your own business. The average dollar spent on advertising yields $3.24 in return, which means an investment in your public image or a new sales proposition might be enough to erase the effects of this challenging season. A significant investment could even bring unmatched gains. At the very least, it will mitigate the loss. 

Beyond financial investment, the sentiment rings true for your time, energy and the people you place around you. A tight fist will result in a slow death, so don’t give in to the temptation to reopen conservatively. Now is the time to go all in.