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COVID-19: Massive list of resources for Texas professionals

(BUSINESS NEWS) This is a resource list compiled to help any business tackle the various challenges that coincide with a global pandemic like COVID-19.

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Austin skyline

Well, that escalated quickly. We were saddened by the cancellation of SXSW which for 34 years has brought thousands of people to Austin to celebrate interactive, music and tech. Many entrepreneurs, artists and small business owners thrive on their exposure and sales during this two-week festival. Many bars, restaurants and shops rely on this additional foot traffic each year.

Some amazing person quickly pulled together ilostmygig.com where people could report in about the wage, they were losing due to the cancellation of the festival.

Not much later, we may have been complaining about our daily commutes in Austin traffic and the next told that our workplaces were closed, and we would need to start having meetings on Zoom, Skype and MS Teams and work remotely for an indefinite time.

Schools and daycare may have also been closed, with not much notice, so people are balancing doing this new work from home all the time while having a child/children home too. Others in Austin were not sure what their workplaces would do and sat by their emails at 11pm on Sunday night.

We know this sudden shift in our daily lives hurts. This hurts everyone whether you’re a full-time employee, small business owner, local artist and maker, restaurant/bar owner and/or self-employed. A Small Business Friends ATX group quickly pulled together a webinar with resources for their community and we have permission to share here. Many of these are also an attempt to support some of our small business owners in our world here in Austin, TX.

We hope this list provides you with some great ideas and/or resources to do while the world around us in uncertain. This is by no means an exhaustive list (and is highly relevant to Texas) but could also offer you ideas to seek out in your community. Either way, it’s a great demonstration of the power of community – whether in real life or online.

Erin Wike, Career Coach and Lecturer at UT Austin, Owner of Cafe Con Resume and Small Business Friends ATX Co-Founder (Austin-based owner):

TEXAS – Small Business Administration Economic Injury Disaster Loan Program

Disaster Unemployment Assistance During or After Natural Disasters

Design Your Life Workbook – If you need some help with design thinking prompts and guidance on how to explore new opportunities in your business, this guided workbook helps you to draw out what potential there is in an easy format and at your own pace.

Super U Podcast (also on Spotify) (Austin-based owner)
Erik Qualman’s Super U Podcast has tons of great tips on personal/digital branding and stories of people bringing out their superpowers. The March 16 podcast is about Online Classes and Online Learning during Coronavirus Quarantine. He also shares great tips on Instagram (short sound bites)
(And shameless plug, Erin Wike is interviewed on the 2/26 episode about The Modern Resume and Aligning your Passions with work).

The Prowess Project Certification
16-hour certification on teamwork, interpersonal skills, technology and Project Management principles. (Austin-based owner)

Doers Shakers Makers
Sierra Bailey’s Podcast has tons of great tips for tiny, talented business owners around content marketing, scaling, time management, etc. (Austin-based owner)
She also has a free Facebook group and virtual meet ups.

Google Analytics 101 for Small Business Owners (recorded webinar via YouTube)

Social Media Today has a story about LinkedIn Learning
In the coming days, we will make 16 LinkedIn Learning courses available for free including tips on how to: stay productive, build relationships when you’re not face-to-face, use virtual meeting tools (Microsoft Teams, Skype, BlueJeans, Cisco WebEx and Zoom), and balance family and work dynamics in a healthy way.

LinkedIn Learning has a ton of resources too about learning Google Analytics, Digital Marketing trends, Excel, etc.

Remote Resources by Facebook Education
If you’re looking for reliable content to share with your members on the prevention of coronavirus, or dealing with anxiety surrounding the virus, we’ve compiled some helpful information from leading health authorities.

Lynn Chang, Owner of Career Zen where East meets West in her approach to helping people with their Career Journeys.

  • 20 minutes of restorative yoga is equivalent to a 2-hr nap. Doing this everyday can improve your mindset and wellbeing. Waterfall pose. You can find other yoga and meditation videos from the Career Zen YouTube channel. Leandra Blei Photography filmed and edited the meditation ones!
  • I wrote The 10 Day Career Cleanse to help us during stressful, chaotic times at work. Through inner zen and harmony, we can more easily tap into creativity and innovation for our businesses. Jessica Hagemann of Cider Spoon Stories (Austin-based owner) was my editor!
  • Need some extra money now? Remote Side Hustles, Work from home jobs through Rat Race Rebellion, Disaster Unemployment Assistance for small businesses. I’ll have more resources and special offerings to share as we go. Here’s my FB business page for reference.
  • Remember that your path to success is naturally paved with unexpected twists and turns. Stay focused on your vision and use your talents to better the world!

Sonya Strattman (Austin-based owner)
Success Strategist for Women in Business
Creator of Women in the Business Arena podcast and program

  • Sonya will have several podcast episodes on dealing with the current environment starting next week. Look up Women in the Business Arena on your favorite podcast app or visit: https://sonyastattmann.com/listen
  • She also has some very specific episodes on topics that will support you during these times.
    1. 3-part series on Navigating business with kids off of school, with illness, etc. Episodes 110-112 starting here.
    2. Overcoming fear EP105.
    3. The Inevitability of Discomfort and How to Move through it EP127.
    4. Deconstructing Stress EP134.
    5. Facing Discouragement & Rising Again EP132.
  • For those in a service business, she has a quick quiz that can help you determine where to focus your attention right now for the most results. Sonya also has accompanying training for each result.
  • Women’s Facebook group called Women in the Business Arena (same as the podcast). You are welcome to join and ask me her questions.

Ruoyun Xu Killian (Austin-based owner)
Founder of C3Nami, a Digital Marketing Agency.

  • Her company is currently working on potentially offering free 20 min advice calls to see how they can support people more on an individual level, but you can always email her, and she will do her best to answer questions.
  • Article about twitters advice on how to adjust your tone during these times.
  • Facebook hub for small businesses.
  • Official City of Austin website.
  • CDC website
  • We here at The American Genius feel the struggles of this time, we hear hundreds of stories each week and know it can be scary living in such uncertainty. We share these resources not only to help you through these hard times, but to show that others are working on, around, and through the problems along side you.

    This list is mostly centered around businesses but the more important element in all of this is you. Take care of yourself and business will return to normal, so wash your hands, stay away from others for the time being, and maybe you can actually catch up on that sleep you’ve been lacking for years.

Erin Wike is a Career Coach & Lecturer at The University of Texas at Austin and owner of Cafe Con Resume. Erin is fueled by dark roast coffee with cream AND sugar, her loving husband, daughter, and two rescue dogs. She is the Co-Founder of Small Business Friends ATX to help fellow entrepreneurs + hosts events for people to live a Life of Yes with Mac & Cheese Productions.

Business News

What small business owners can learn from Starbucks’ new D&I strategy

(BUSINESS) Diversity and inclusion have been at the forefront of Starbucks’ mission, but now they’re shifting strategy. What can we learn from it?

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Hands of all different skin colors on green background representing Starbucks' D&I.

Starbucks was one of many companies that promised to focus on diversity and inclusion efforts after the death of George Floyd by Minneapolis police in 2020. What sets Starbucks apart from other companies were its specific goals.

How It Started

They began with hiring targets and have now added goals in corporate and manufacturing roles. Starbucks’ plans and goals revolve around transparency for accountability. They released the annual numbers for 2021 as a way to help hold themselves accountable. The data they’ve released so far show that they’ve met nearly a third of their 2025 goals according to Retail Brew. Because of this information, we can see why they are choosing to move in the direction of manufacturing and corporate jobs. In 2021, POC’s fell to 12.5% of director-level employees from 14.3% in 2020 in manufacturing.

How It’s Going

Per Starbucks’ website stories and news, “[I]t will increase its annual spend with diverse suppliers to $1.5 billion by 2030.  As part of this commitment, Starbucks will partner with other organizations to develop and grow supplier diversity excellence globally.” To put that into perspective, they spent nearly $800 million with diverse suppliers in 2021. With these moves, by 2030, it will increase by almost double.

As part of their accountability and progress, they plan to partner up with Arizona State University to give out free toolkits to entrepreneurs on fundamentals for running successful diverse-owned businesses. Another goal they’ve listed is to boost paid media representation by allocating 15 percent of the advertising budget to minority-owned and targeted media companies to reach diverse audiences.

At the heart of all this information on their goals and future plans, data transparency and accountability are what’s forcing them to look at the numbers to make specific goals. They are doing more than just throwing money at the problem, they are analyzing how they can do better and where the money will make a difference. Something that, as entrepreneurs, we should all do.

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Business News

Peloton is back-pedaling: Reports of price increases, layoffs, and cost cuts

(BUSINESS) After a recording of layoffs leaks, ‘supply chain’ issues cause shipping increases, and they consult for cost-cutting, Peloton is doomed.

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Man riding Peloton bike with instructor pointing encouragingly during workout.

Is Peloton in Trouble?

According to many reports, Peloton had success early in the pandemic when gyms shut down. Offering consumers a way to connect with a community for fitness along with varying financing options allowed the company to see growth when many other industries were being shuttered.

After two years, CNBC reports that the company is “being impacted by …supply chain challenges” and rising inflation costs. According to the report, customers will be paying an additional $250 for its bike and $350 for its tread for delivery and setup.

As demand has decreased, Peloton is also considering layoffs in their sales and marketing departments, overheard in a leaked audio call. The recording details executives discussing “Project Fuel” where they plan to cut 41% of the sales and marketing teams, as well as letting go of eCommerce employees and frontline workers at 15 retail stores.

Nasdaq reported that the stock fell 75% last year, after a year where it soared over 400%.

Peloton reviewing its overall structure

According to another report from CNBC, Peloton is working with McKinsey & Company, a management consulting firm, to lower costs as revenue has dropped and the growth of new subscriptions has slowed since the pandemic. Last November, according to NPR, Peloton had “its worst day as a publicly-traded company.” It also anticipates greater losses in 2022 than originally predicted. It makes sense that the company would reexamine their strategy as the economy changes. They aren’t the only one that is raising prices amid supply chain issues.

It will be interesting to watch how Peloton fares

Peloton has a large community that pays a monthly fee for connected fitness. While growth has slowed, the company still has a strong share of consumers. Although it is facing more competition in the home fitness market and more gyms are reopening, as Peloton adjusts to the new normal, it should remain a viable company.

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Business News

CEO is offering folks thousands to *quit* their jobs, with one catch

(BUSINESS) A CEO out of Arizona is challenging employment norms by offering a sort of “sign-off” bonus upfront, but this method has one fatal flaw.

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Man counting cash in his hand representing the CEO offering money to employees who quit.

Chris Ronzio, the CEO of Trainual, a software company in Arizona that aims to systemize and scale your small business, is offering cold hard cash to quit your job in an unconventional ploy to bypass the effects of the Great Resignation.

Before you rush to turn in your notice and make some extra cash, you should know that this offer is dependent on being selected as a hirable candidate and making it through the hiring process for Trainual. This option is also offered to new hires after 2 weeks of employment.

This model of employment gives the employee the ability to fire the company and walk away with a little sum of money. The thought process of the CEO was outlined in an article by the Insider, saying it is a strategic move to retain top talent and maintain a strong company culture. While this is a unique approach…it has a glaring flaw. The offer is only good for the initial two-week period. However, it can take some time to recognize the shortcomings of any company when you begin employment. We can all recognize the long-term financial potential of reoccurring income and while $5,000 is not anything to shake your finger at, it will eventually be gone. I think we can all agree that constructive criticism can be difficult to swallow at times, however, if Trainual was truly invested in this model they would extend the offer at other key times during employment. What if this offer was again available at the 1-year mark? If the offer reappeared at a one-year review, the turnover may increase.

Per the Insider article, Ronzio was quoted as saying, “With today’s market, hiring teams have to move quickly to assess candidates and get them through the process to a competitive offer, so it’s impossible to be right 100% of the time,” Ronzio said. The CEO added, “The offer to quit allows the dust to settle from a speedy process and let the new team member throw a red flag if they’re feeling anything but excited.”

These statements detail another dimension to consider which is the employment hiring process and timeline. If top candidates are in such high demand that the process has to be sped up to secure a workforce, this monetary compensation can help to ensure the hiring decision. Although, when the offer was implemented in May of 2020, the offer was $2500, half of what it is now. Ronzio reasoned that they could stay while they looked for another job so they increased the amount to compensate for those with a higher salary range.

Let me preface this by saying that yes, accountability should exist, but I would be interested to know the turnover rate for the hiring team. The cost to the company from this unique approach adds extra weight for those making the decisions on who to hire. The stress the hiring team faces has to be factored into the candidate decisions. How many times can the hiring team get it wrong before they’re let go? While the pressure to hire the right candidate should always factor in, one has to wonder about the effects of this model.

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