Are you in the 38% of businesses that think they would definitely survive?

#schoolownerjourney #shittydays May 08, 2020

In times of uncertainty, we will automatically procrastinate on things we fear the most.

Also, many times we turn a blind eye to something we know is not going well.

These two gut reactions on their own can cost us years of hard work to rectify.

 

For years, I avoided looking at the finances of my academy. I thought if I put my best intention into it, the finance part will work itself out.

It didn't. At one point I had already invested all the money I got from selling my apartment, and it still wasn't working.

I had to realise that having a learning centre is just like having any other business. If it doesn't make money, despite pouring your heart into it, it won't survive.

 

I see us, centre owners in a similar situation now.

We need to act but we don't know how.

 

If I think of all the work it will entail to figure out in what form to reopen my school in September, it's just a huge overwhelm.

 

It's tempting to rather cuddle up on the sofa, and start knitting a new top for the summer, and watch 3 more episodes of This Is Us or Homeland (done with the season finale on both, so back to thinking about my academy).

Or to prepare a caipirinha and chill in my hammock at the rooftop.

 

But deep inside I know, that if I choose the rooftop today, I might not be able to afford a house with a rooftop in September because of the lack of a plan for what we might need to face.

 

It's true that there are an immense number of things we don't know.

 

But, there is also a great deal of information out there, that's already available and can give us a starting point.

 

For example, that only 38% of small companies in countries seriously affected by the COVID situation are certain about being able to remain in business in the next 1-2 years (as per research done by the chamber of commerce).

The rest are unsure. That number is devastating.

 

Now, if you don't take action now, you risk ending up in the 62% with uncertainty. But I firmly believe, that you can secure yourself a place in that 38%.

 

How?

 

By starting to work each scenario for your school. There are 5-6 scenarios? Great, that's already something to start with. Start envisioning them for real. Each one with their question marks.

 

  • What if I can open the same way it was before? Will I be happy with it?
  • What if I need to reduce number of students in class to 40%? Can I afford it?
  • What if I have to close again in November? Would I do it the same way l did in March? Would it still work?
  • What if I want to maintain a hybrid model? Can I work it? Do I have the strength? Would it make the money I need?
  • What if I don't open my physical premises but go fully online? Would my students stay? Would my team stay? What would it cost me? When should I cancel the rent then? How long shall I wait?

Start with putting down all these questions TODAY.

 

Just putting them down will bring you a bit of a relief. Overwhelm too, as you will easily be able to come up with a list of 200.

 

But if you don't write them down, you won't be able to tackle them.

 

If you have them written down, you can start working them TODAY, one by one.

 

And, you are not alone. You can bring all those questions to our Day 0 Early Bird Call next Tuesday the 12th of May at 11:00am CET.

I will be there for 2 hours to help you find an answer to your most burning questions. To get you off to a great start with your planning.

 

Like you saw yesterday, the early bird call is available for everyone who gets their place in The Defy & Thrive 7-Day Challenge by midnight CET today.

You can do this!

 

Have a great Friday.

Hugs,

Eszter

Image by klimkin from Pixabay

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