What The Boy Scout Motto Can Teach Us About Business in the Age of COVID19

Were you ever a Boy Scout, or friends with one? I always found their mission statement and the Boy Scout Law pretty useful as a frame of reference. Be loyal, helpful, courteous, and so on is good advice in basically any situation.

But when it comes to business, I’ve relied most heavily on the basic Boy Scout motto: Be Prepared.

As I write this, we’re currently about six months into a global pandemic, and it’s been a wild ride, business-wise, but I’m going to tell you what I always tell my clients: start by accepting the reality of the situation. This can be a bitter pill to swallow if your business has experienced some losses. Maybe a large client has gone out of business. Maybe your revenues are starting to feel the downturn in a way that you can’t write off as “just a few bad months.” 

Either way, now is the time to look at the situation and accept that it’s happening. I’ve seen a sad number of businesses refuse to adjust their business model because they’re convinced everything will go “back to normal” in a few months and we can just shake this virus off. 

But the truth is that there is no “going back to normal.” Times are changing, and businesses need to adapt. Take a look at stores like Target, Walmart, and Best Buy that were some of the early adopters of the curbside pickup platform. By accepting the full scale of the changes to their operating model, they were able to work with the changes, not against them.

If you’re a small business, I know it’s not as easy as deploying a large workforce to quickly pivot an operating model, but there are typically programs available that you should consider as part of your planning. Some companies have a business line of credit set up just in case, and others have applied for relief loans or grants to ensure they can make payroll if necessary. 

However, if you’re lucky enough to be thriving right now, or if the effects of the downturn haven’t touched you yet, I would encourage you to take this time to prioritize savings. It’s advice you’d get from a grandmother, but having a rainy day fund for a business can be a lifesaver. Though, for a business, this should take the form of savings accounts and capital investments rather than a jar under the bed.

Whatever you do in these turbulent times, I’m a big believer in the American spirit of grit and effort. Preparedness and innovation are essential, but determination is equally key. I know how frustrating a downturn can be, believe me, and I’ve found that the best cure for despondency is a bit of hustle. Go back to basics if you have to. Cold call, post flyers, pass out business cards, offer discounts, or add new lines of revenue to support ones that are in downturn. Whatever you have to do, get out there and get to it. 

These are interesting times, but with some preparedness and can-do spirit, you can make it through this economic climate with your business (and sanity) intact.