Page 29 - GS200402

Education

You must live to fight another At this point, you may have to make some
day, so do whatever it takes to en-
sure you have enough cash flow hard decisions. You must live to fight another
to weather this storm. In this
type of environment cash is king. day, so do whatever it takes to ensure you have
enough cash flow to weather this storm.
Stimulus packages are great,
low interest rates are wonderful, In this type of environment cash is king.
checks to workers help, but don't
count on the government to save
you. Certainly, apply for any help things that build you up not tear you down. Remember, don't get a virus
that you can get. But the reality of the mind.
is that the only one that can save
you is you! 5. Be ready for the rebound: Maybe, by the time you read this article things
will have already started to rebound. I hope so. Once business owners and
3. Focus on products you can investors have some measurable clarity about the potential downside, we
sell remotely: The technology will be able to at least quantify the effects and start to dig ourselves out of
we have available to communi- this. When this happens be ready for a rebound. It may take time, but it will
cate and share information is un- happen; the economic engine of the country is unbelievable. I believe there
paralleled. Use this technology to will a tsunami of opportunity coming our way.
create and close more business.
Sell products that business own- This is the question I'm asking myself right now: How can I turn this challenge
ers need right now. Examples into an opportunity? This is just beginning. Stay strong and take care of your
include working capital, credit loved ones, especially those at risk. You will weather this storm and be prepared
lines, invoice factoring, cash-out to capitalize.
refinancing, equipment finance,
online ordering and mobile pay- Marc Beauchamp is author of Survive and Thrive in the Merchant Services Industry and founder
ments. of Bankcard Life, a community for payments professionals. He is offering a free copy of his book

to all payment professionals at www.bankcardlife.com/greensheet. Marc welcomes your com-
Merchants will have more time ments and feedback at marcb@surviveandthrive.biz.
on their hands and are looking
for ways to reduce overhead and
save money. Look for key verti- Tradeshow
cals that you can target that are
still operating and potentially ex- Update:
panding their business. Yes, some
still exist out there. I spoke to an
agent the other day who was do-
ing great with butcher shops, Shows go virtual
small grocery stores and online
ordering for restaurants. People
still need to eat. As you know, precautionary measures in place to help stop the
spread of COVID-19 have meant many tradeshows we all look
4. Use this time to your benefit: forward to have been turned into virtual events.
Instead of watching the news all
day long, could you be using this For example, after postponing the in-person CNP Summit 2020,
time for your family's benefit? originally slated for May 19 to 21, Card Not Present organizers
You may never see this type of created the CNP Virtual Summit Series 2020. Details on the series
opportunity to reconnect with are available at info.cardnotpresent.com/en-us/cnp-virtual-sum-
your loved ones again. Use this mit-2020.
time to sharpen the saw, as Ste-
phen Covey puts it. Read, exer- Information on other industry events that have changed course is
cise, listen to podcasts, strategize, available at It’s Showtime!, which you can access at www.green-
research new vendors, revamp sheet.com. We update event information regularly to help keep
your marketing, connect with you informed. And if you are an event organizer with updates,
God on a deeper level, journal, please contact us at greensheet@greensheet.com so we can help
cultivate positivity or take up an spread the word.
empowering habit. Keep your
days structured and filled with

29