A Conversation With: Business Coach and Motivational Speaker Walter Bond

The coronavirus continues to have dire effects on businesses across the country, and the franchise industry is no exception. Franchisors across segments are strategizing new ways to support their franchisees, keep customers satisfied, help local communities and come out stronger on the other side of this crisis.

To that end, 1851 Franchise publisher Nick Powills and Charles Internicola, founder and partner of the Internicola Law Firm, are covering the coronavirus and its impact on businesses through our A Conversation With webinar series.

Here are some of the key insights from their discussion.

This is an opportunity for business leaders to work on their businesses and get bigger, stronger and faster. Companies can take the opportunity of this pause to pull back and work differently. They can hold retreats and workshops and do things they did not have the time to do before the pandemic. This might be the only chance they get.

There are two types of businesspeople: those who have a pity party when things get rough and those who know when and how to adapt to the challenge. This is a great time for brands to reposition themselves to be more effective.

If your business was not already oriented around people, it needs to be. Businesses that put profit over people will lose employees. Employees will know whether you care about them or not, and those who realize you did not care about them will leave.

The companies winning right now are in the people business, and they were in the people business before this crisis. Leaders need to take care of their people. If you take care of your people, including customers, they will take care of you.

This pandemic has provided us with a chance to reset, and for most people, that reset happens at home. Spend quality time with family and children. Improve your diet. Get some rest. Don’t just look at what’s wrong with this situation, look at what’s right. Take this chance to improve any weak areas you have, so when life returns to normal, you will be better. The worst thing you can do right now is nothing.

Business leaders should take this time to anticipate where their business will be once this crisis has passed. Another benefit of this situation is that there is currently a great deal of talent on the sidelines. Pre-pandemic, a lot of companies were struggling to find good help. Now, there is a lot of talent in the market.