Beating COVID-19: Tips for Your Insurance, Finances, and Business - June 2, 2020

June 02, 2020
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News. Insights. Analysis. Inspiration.

 

Today's Key Question:

Recent court decisions have overturned COVID019 lockdowns in different states (see the article below.) The bottom line is that government officials are always bound by the law - especially in an emergency.

Do you agree, or do you think they should have unlimited powers in events such as a pandemic? 

 

"Four stories of owners saving their business with a quick pivot"

From E-Myth:

* The pandemic has made it difficult or impossible for so many business owners to deliver on that promise as they usually would. But when changes in the external environment affect the habits and needs of your customers, you have to be ready to change, too. You need to pivot, to find new ways to deliver your promise, and create a contingency system that not only serves your business in the moment, but can become a part of your long-term strategy.

 

"Gucci Goes Rogue in Seasonless Move"

From Jewish Voice:

* The flouting of conventionally scheduled shows has been picking up momentum in the past weeks with a recent spate of designers such as Armani, Dries Van Noten, Marine Serre and the designers of the CFDA and British Fashion Council calling for a replacement of the obsolete system of seasons in the fashion industry. However, the protestations were mostly confined to smaller companies. For a behemoth akin to Gucci to vocally reject the tradition of regularly scheduled European shows is revolutionary.

* Normally holding five shows per year, Gucci indicated it would limit its collections to twice a year and sit out September fashion week. This shift was undoubtedly incited by the coronavirus crisis which has left the industry in shambles. Gucci, which is based in one of the viruses’ epicenters of Florence, shut all its Italian factories on March 14th facing a double punch when compounded by massive store closures. Was Alessandro Michele’s Instagram manifesto an attempt to save face and money in a distressed industry; or was it an actual moment of self reflection from an industry that has rarely held itself up to any recognizable mirror. The answer is both. Michele’s Instagram claims that he no longer wants to be ”constrained by the tyranny of speed” or the “insidiousness” of the ride sounding more like someone who has ingested too many edibles as opposed to a frustrated designer. However, the likely explanation for this brazen turnaround is practical economics-conglomerates can no longer afford to hold numerous multi-million dollar shows a year.

 

"When This Startup Lost Its Customers, It Started a Whole New Business in a Week"

From Inc.

* The pandemic wiped out most of the SnapBar's photo booth business. In response, the founders immediately launched a gift box service that also helps other local companies.

 

"Will the Customers Come Back?"

From Think Advisor:

* Here’s a checklist for reaffirming relationships with existing customers and building new ones with prospects. This is anything but easy. But it can happen, if at least some of these eight things happen:

 

"A Pandemic Does Not Suspend the Rule of Law"

From Reason:

* In response to the COVID-19 pandemic, state officials have imposed unprecedented restrictions on our liberties and livelihoods, acting on the assumption that they can do whatever they think is necessary to protect the public from a potentially deadly disease. The courts, which were initially reluctant to second-guess state responses to COVID-19, are beginning to recognize that public health powers, while broad, are not a blank check.

 

Here's a short video from Steve on how you can purchase insurance in these changing times....Watch Here