Small Business Saturday draws 40+ Lehigh Valley participants. Here are their deals. - lehighvalleylive.com

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Small Business Saturday draws 40+ Lehigh Valley participants. Here are their deals. - lehighvalleylive.comSmall Business Saturday draws 40+ Lehigh Valley participants. Here are their deals. - lehighvalleylive.comPosted: 30 May 2020 05:22 AM PDT More than 40 Lehigh Valley small business owners Saturday will be offering virtual deals on what they say will be one of their biggest shopping sales annually.Small Business Saturday typically is timed for following Black Friday in November. The nationwide effort for the past decade encourages communities to shop local as it kicks off the busiest shopping season of the year.The chamber is moving this year to hold the event twice -- this time with social distancing -- as many businesses struggle to survive financially during the coronavirus pandemic. Gov. Tom Wolf ordered all non-life-sustaining businesses to close their doors on March 19. Restaurants were then forced to offer menu items by takeout only with curbside pickup or delivery.Lehigh Val…

5 Strategies to Help Small Businesses Survive a Recession - CPAPracticeAdvisor.com

5 Strategies to Help Small Businesses Survive a Recession - CPAPracticeAdvisor.com


5 Strategies to Help Small Businesses Survive a Recession - CPAPracticeAdvisor.com

Posted: 05 May 2020 11:01 AM PDT

Recession is a scary word for every business. But, it's particularly worrisome for small businesses who may not have the same financial cushioning as large companies.

Some say a recession is coming, while others say that it's already here. In either case, you must develop a strategy to recession-proof your business, and you should do this now. As the economy takes a deeper dive, it will be much harder for you to timely respond and keep your business afloat.

Don't panic. There are things that you can do to weather the turmoil of a recession. So let's take a look at what your small business clients can do to respond appropriately in times of economic hardship.

1. Focus on core competencies

Your clients' businesses have something they are really good at. It's most likely their core product or service. And, that's what will carry them business through a recession.

There are times to pour efforts into a new path with an unknown return on investment. Sometimes the biggest risks lead to the biggest rewards. But, a recession isn't one of those times.

Instead, businesses need to scale back to the products and services they know will perform the best. And they shouldn't spend their budget trying to support weaker products or services. The focus should be on promoting the best products or services to past and current customers, and to prospects.

And, if possible, they need to find ways to generate multiple streams of revenue promoting the core product or service. Multiple revenue streams will give more financial flexibility when times get tight.

Businesses can also increase revenue streams by introducing VIP and economy versions of a service they already offer. They may consider a subscription option with added benefits for automatic renewal. Or, even better – assess if there's a new way they can apply their core competencies to help in the changing economic climate.

2. Don't stop marketing

During a recession, more than ever, it's important businesses do whatever they can to stay top-of-mind for customers. Recessions tend to be stressful times for everyone. And, with so much stress to distract, it's easy for a business to get forgotten or lost in the shuffle.

For many businesses, this means bringing their business online in a meaningful way. As we emphasized in our comprehensive guide on how to start a business, their website is one of the most important ambassadors and a crucial component of a marketing and branding strategy.

So, businesses should still budget funds for marketing (and the cost to create a strong presence online) and do their best to stay in front of customers. Here are a few ideas to get started…

  • Send regular, content-rich emails to current customers on their mailing list.
  • Follow up with prospects who've ghosted.
  • Check-in on past customers that haven't been heard from in a while and make them a compelling offer to win back lost customers.
  • Place online retargeting ads to draw prospects back in.
  • Post consistently on social media and consider holding SM contests, sales, or events.

However you choose to reach out to your audience, be sensitive to the times. Make sure to show the real benefit you offer their lives in this current context. Keep your messaging relevant and keep your company's brand identity front and center. After all, you don't want your customers and prospects to forget about you.

And, don't push a hard sell. Read the room – money's tight for everyone during a recession.

How can I stretch my marketing budget? When times are tight, it's important to get the most value possible out of every single dollar. Here's how to get the most from your marketing budget...

3. Protect cash flow

Recessions lead to slimmer profit margins; which can make maintaining a healthy cash flow tricky. So, let's get uncomfortably real for a minute. If the cash flow dries up, that's likely the end of your business. So, to survive a recession, it's essential to plan ahead for ways to cushion your cash flow.

Here are a few options:

Cut back on any unnecessary spending. Audit your current spending. Are there any services, memberships, or resources that your business can function without for a while? If so, then live without. Funnel that money back into necessary spending for your business. (Remember – marketing is necessary!) And, look for cheaper prices for the items that remain on your "necessary" list.

Renegotiate vendor agreements with more favorable terms if possible. Remember that your vendors may be struggling to get by, too. They'd probably be happy to renegotiate the terms of your contract rather than lose out on your business entirely. See if they're willing to give you a more competitive price 0r more flexible payment terms while the economy's rough. You may also be able to negotiate a discount for cash or early payments. You'll never know unless you ask.

Arrange for financial assistance. Look into a small business line of credit. Apply to small business grants and small business loans to help keep you afloat. Timely financial assistance from small business loans like Kabbage could mean the difference between survival and going under. So, check out this list of the best small business loans and visit the Small Business Administration to learn about their funding programs.

And, make sure you understand your cash flow situation. If you don't have a firm grasp on the numbers, you won't know how best to protect yourself.

4. Invest in your existing customers

It costs more to acquire new customers than to maintain existing ones. This is true even at the best of times. But, during a recession, people clamp down on their spending – making it even harder to persuade a new customer to give you a try. So, investing in the customers you already have becomes even more important.

Now is the time to build real relationships with your customers. Show them that you have their back. Treat them with respect and value their patronage with your actions. The relationships you build with your customers as you navigate difficult times together can build lifelong customer loyalty. So, think of ways that you can make a meaningful, positive difference for your customers.

Need a great way to start? Talk with your support team to learn what issues they hear about most. Let your customers know that you're prioritize fixing those issues. Then do it. And, don't forget about past customers. As we previously pointed out:

This might seem obvious, but past customers were once active customers. During a recession is the perfect time to re-engage with past clients.

Want to re-engage with past customers? There are plenty of ways to reconnect with past customers and persuade them to buy from you again. Learn 8 effective ways your small business can wow and win back lost customers...

5. Delegate and automate

In times of crisis, business leaders must steer the ship.

They have to be prepared to put out fires, make tough decisions, and plan strategically for the future based on the changing landscape of today.

It's impossible to complete those necessary high-level tasks if your schedule is filled with productivity-stealing mid-level tasks. If you're preparing for a recession or in a recession now, it's time to start delegating.

Assess what tasks can be handed off to other employees. And, determine if there are cost-effective automated solutions that can complete repetitive tasks more efficiently than you or your staff.

Prioritize delegating the tasks that take the most time with the least financial return. But, try to clear your plate of any task that is not within your wheelhouse or that yields little financial gain.

As a leader, your time is one of your business's most valuable resources. Make sure you reserve it for the tasks that will deliver the biggest positive impact on your small business.

Don't give up

Running a small business during a recession is challenging. But, a recession doesn't have to spell the end.

Your small business will need to be agile and flexible to adapt to its new reality. If you plan, execute well, and keep your focus, you can recession-proof your business and come out stronger on the other side.

====== 

Katie Lundin is a Marketing and Branding Specialist at crowdspring, one of the world's leading marketplaces for crowdsourced logo design, web design, graphic design, product design, and company naming services. She helps entrepreneurs, small businesses and agencies with branding, design, and naming, and regularly writes about entrepreneurship, small business, and design on crowdspring's award-winning small business blog.

Post-COVID-19 Business Planning and Communications | Clark Hill PLC - JD Supra

Posted: 05 May 2020 01:14 PM PDT

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

Please note that if you subscribe to one of our Services, you can make choices about how we collect, use and share your information through our Privacy Center under the "My Account" dashboard (available if you are logged into your JD Supra account).

Collection of Information

Registration Information. When you register with JD Supra for our Website and Services, either as an author or as a subscriber, you will be asked to provide identifying information to create your JD Supra account ("Registration Data"), such as your:

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Other Information: We also collect other information you may voluntarily provide. This may include content you provide for publication. We may also receive your communications with others through our Website and Services (such as contacting an author through our Website) or communications directly with us (such as through email, feedback or other forms or social media). If you are a subscribed user, we will also collect your user preferences, such as the types of articles you would like to read.

Information from third parties (such as, from your employer or LinkedIn): We may also receive information about you from third party sources. For example, your employer may provide your information to us, such as in connection with an article submitted by your employer for publication. If you choose to use LinkedIn to subscribe to our Website and Services, we also collect information related to your LinkedIn account and profile.

Your interactions with our Website and Services: As is true of most websites, we gather certain information automatically. This information includes IP addresses, browser type, Internet service provider (ISP), referring/exit pages, operating system, date/time stamp and clickstream data. We use this information to analyze trends, to administer the Website and our Services, to improve the content and performance of our Website and Services, and to track users' movements around the site. We may also link this automatically-collected data to personal information, for example, to inform authors about who has read their articles. Some of this data is collected through information sent by your web browser. We also use cookies and other tracking technologies to collect this information. To learn more about cookies and other tracking technologies that JD Supra may use on our Website and Services please see our "Cookies Guide" page.

How do we use this information?

We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

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How is your information shared?

  • Content and other public information (such as an author profile) is shared on our Website and Services, including via email digests and social media feeds, and is accessible to the general public.
  • If you choose to use our Website and Services to communicate directly with a company or individual, such communication may be shared accordingly.
  • Readership information is provided to publishing law firms and authors of content to give them insight into their readership and to help them to improve their content.
  • Our Website may offer you the opportunity to share information through our Website, such as through Facebook's "Like" or Twitter's "Tweet" button. We offer this functionality to help generate interest in our Website and content and to permit you to recommend content to your contacts. You should be aware that sharing through such functionality may result in information being collected by the applicable social media network and possibly being made publicly available (for example, through a search engine). Any such information collection would be subject to such third party social media network's privacy policy.
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  • Any court, governmental authority, law enforcement agency or other third party where we believe disclosure is necessary to comply with a legal or regulatory obligation, or otherwise to protect our rights, the rights of any third party or individuals' personal safety, or to detect, prevent, or otherwise address fraud, security or safety issues.
  • To our affiliated entities and in connection with the sale, assignment or other transfer of our company or our business.

How We Protect Your Information

JD Supra takes reasonable and appropriate precautions to insure that user information is protected from loss, misuse and unauthorized access, disclosure, alteration and destruction. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. You should keep in mind that no Internet transmission is ever 100% secure or error-free. Where you use log-in credentials (usernames, passwords) on our Website, please remember that it is your responsibility to safeguard them. If you believe that your log-in credentials have been compromised, please contact us at privacy@jdsupra.com.

Children's Information

Our Website and Services are not directed at children under the age of 16 and we do not knowingly collect personal information from children under the age of 16 through our Website and/or Services. If you have reason to believe that a child under the age of 16 has provided personal information to us, please contact us, and we will endeavor to delete that information from our databases.

Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

  • Our Legal Basis for Processing: Generally, we rely on our legitimate interests in order to process your personal information. For example, we rely on this legal ground if we use your personal information to manage your Registration Data and administer our relationship with you; to deliver our Website and Services; understand and improve our Website and Services; report reader analytics to our authors; to personalize your experience on our Website and Services; and where necessary to protect or defend our or another's rights or property, or to detect, prevent, or otherwise address fraud, security, safety or privacy issues. Please see Article 6(1)(f) of the E.U. General Data Protection Regulation ("GDPR") In addition, there may be other situations where other grounds for processing may exist, such as where processing is a result of legal requirements (GDPR Article 6(1)(c)) or for reasons of public interest (GDPR Article 6(1)(e)). Please see the "Your Rights" section of this Privacy Policy immediately below for more information about how you may request that we limit or refrain from processing your personal information.
  • Your Rights
    • Right of Access/Portability: You can ask to review details about the information we hold about you and how that information has been used and disclosed. Note that we may request to verify your identification before fulfilling your request. You can also request that your personal information is provided to you in a commonly used electronic format so that you can share it with other organizations.
    • Right to Correct Information: You may ask that we make corrections to any information we hold, if you believe such correction to be necessary.
    • Right to Restrict Our Processing or Erasure of Information: You also have the right in certain circumstances to ask us to restrict processing of your personal information or to erase your personal information. Where you have consented to our use of your personal information, you can withdraw your consent at any time.

You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

As with many websites, JD Supra's website (located at www.jdsupra.com) (our "Website") and our services (such as our email article digests)(our "Services") use a standard technology called a "cookie" and other similar technologies (such as, pixels and web beacons), which are small data files that are transferred to your computer when you use our Website and Services. These technologies automatically identify your browser whenever you interact with our Website and Services.

How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

  1. Improve the user experience on our Website and Services;
  2. Store the authorization token that users receive when they login to the private areas of our Website. This token is specific to a user's login session and requires a valid username and password to obtain. It is required to access the user's profile information, subscriptions, and analytics;
  3. Track anonymous site usage; and
  4. Permit connectivity with social media networks to permit content sharing.

There are different types of cookies and other technologies used our Website, notably:

  • "Session cookies" - These cookies only last as long as your online session, and disappear from your computer or device when you close your browser (like Internet Explorer, Google Chrome or Safari).
  • "Persistent cookies" - These cookies stay on your computer or device after your browser has been closed and last for a time specified in the cookie. We use persistent cookies when we need to know who you are for more than one browsing session. For example, we use them to remember your preferences for the next time you visit.
  • "Web Beacons/Pixels" - Some of our web pages and emails may also contain small electronic images known as web beacons, clear GIFs or single-pixel GIFs. These images are placed on a web page or email and typically work in conjunction with cookies to collect data. We use these images to identify our users and user behavior, such as counting the number of users who have visited a web page or acted upon one of our email digests.

JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

  • HubSpot - For more information about HubSpot cookies, please visit legal.hubspot.com/privacy-policy.
  • New Relic - For more information on New Relic cookies, please visit www.newrelic.com/privacy.
  • Google Analytics - For more information on Google Analytics cookies, visit www.google.com/policies. To opt-out of being tracked by Google Analytics across all websites visit http://tools.google.com/dlpage/gaoptout. This will allow you to download and install a Google Analytics cookie-free web browser.

Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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