Keeping Companies Afloat and the Economy Moving During Covid-19

Hello friends, how’s everybody doing out there? Has your mindset changed from when we first went into lockdown to now? What's inspiring and motivating you? What are you doubling down on in your business?

And most importantly, are you still hanging on as we enter these strange phases of “bigger bubbles” and “soft openings"?

COVID-19 has definitely brought obstacles along with it, health scare aside. That said, you all know my philosophy when it comes to obstacles – that they should be viewed as less of a block and more as something you use to spur you forward!

My goal here is to always try and inject some positivity into these posts. Because I know that the Self Made Nation and its entrepreneurial spirit and incredible brainpower are just the people to move through this crisis, and support and help others along with you to the other side.

So, with the economy still wobbling a bit (thanks pandemic!), I wanted to take the next few weeks and re-introduce you to some of my favourite guests from past episodes of “I’m a Millionaire. So Now What?”

I love catching up with people. To find out how their lives have changed, exchange new ideas, and especially to hear what they've been doing to keep their companies afloat and the economy moving these past three or four months.

Introducing Scott McLaren

I first interviewed Scott a year or so ago, when he co-founded the Official Ottawa monopoly game. A recipient of the 40 under 40 Award in 2018, he’s a local business owner, and a huge fan of giving back to his community. The proceeds from Ottawa monopoly went to Ottawa Big Brothers Big Sisters, Do it for Darren at the Royal Ottawa Foundation, and some other youth-oriented causes.

These past few months he’s been juggling self-isolation and working from home, along with supporting his wife (who’s a medical resident), making googly-eyes at their new baby (child number two, I might add!), and running his business as well as possible, which is tough when your business is literally promotions and festivals. Which have definitely taken a huge hit due to the pandemic. How is he doing?

As well as catching up (BABY!), I asked Scott what advice he had for other business owners, and entrepreneurs, especially those who are struggling? I’ll let his words do the talking.

Life During Lockdown

“When we first went down to lockdown, like I was a little bit concerned…ok, maybe overly concerned before a lot of other people were, and I started working from home about a week before the lockdown started. And then it was constant worry.”

“We're doing well now, working from home going on three months. And [being at home] becomes literally a juggling act - you've got, most of the time, a kid in one hand and your job in the other! So, it's been a challenge. But if anything, I've probably gotten better at being more efficient with certain tasks and delegating to the rest of our team. Where before, we weren’t so good at [delegation]. I'm not confident though, that we've got things under control. And, yet we're going back out into the world, kind of prepping for that second wave. So, I'm still concerned. It's just a different type of concern at this point.”

Pandemic’s Effect on Forward Planning

“Then you have to try and map this out for the next 12 to 18 months. How's that going to look? If not back to normal, which I don't know that we will be - it's sort of a moment by moment, day by day thing. Some positive feelings and then some… well, just not really sure about what is in front of us. And for our business, where you could boil most of our clients down into being “large social gatherings” we have quite a big piece of skin in the game for things getting back to normal! It's cautious optimism right now.”

What’s Kept Him Going?

“I think just being adaptive…”

(Note from Colleen: Baby starts making a fuss – which is, in my opinion,  absolutely one of the best things to come out of this Covid-19/Zoom meetings/work from home life we’re all living – whether babies, older children, pets or even the mailman, something about all of this really humanizes people. It’s really refreshing.)

“Interesting. Okay. This is the real world we're getting here! (laughs) I think what’s keeping us going is that we're pretty nimble, we've come up with a few things, we're doing more custom masks now than T shirts, which, had you told me that six months ago….!? And then we do a lot of college and university stuff. So, we've been pretty quick to adapt to Virtual Education. We're probably ahead of the curve on that one. And I think that will be a big boon for us for the next three months.”

Impatient but Adorable Baby Again – I Quickly Lob Scott the Last Question!

And what advice would you have for other business owners, and entrepreneurs, especially those who are struggling?

“I think you've got to look outside your lane and find something else that works, because what you used to do might not work for the time being, if ever again. We have a client [escape rooms] and they're going to be one of the last things to get open. They're not a restaurant, they don't - I mean, they do sell booze, but it's not their main revenue source. It's locking people in an enclosed space! So, it's going be a while. But they're doing neat things online, scavenger hunts, we've been talking about “escape from home” kits, things like that.”

“I think the only advice you can have is you’ve got to find out what your secret sauce is and find another way to deliver it. For Festival, it's really attractive logoed items. And just because you can't wear a T shirt to a concert or hockey game right now, doesn't mean that we can't provide those. Or it's logoed masks and hand sanitizer at this point. And another big thing for us was distribution, which is what we're doing for schools – now we’re delivering frosh kits to students’ homes, as opposed to on campus, where you would normally pick them up.”

I hope you will come back next week, and the week after, and the week after that, and meet other guests who have previously appeared on “I’m a Millionaire. So Now What?”

And if you are craving like-minded conversation with growth-oriented business owners, consider joining me and eight other business owners, investors and entrepreneurs for our next edition of elevated conversations taking place (virtually!) on July 6th.

The next topic is an ode to gathering! Seems appropriate, no? J  You can learn more about it - and register - here!

I hope you’ll join us!

And please reach out if you would like to connect. I’d love to tell your story! You can drop me a line here.

“I’m a Millionaire. So Now What?” is brought to you by Double to Sell - Canada's Premier Invitation-ONLY workshop for business owners wanting a cash-rich exit in 10 years or less. For more information, or to register, please visit the “Double to Sell” website.