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138: How to Disaster-Proof Your Business During Coronavirus and Beyond


If you own a small or medium sized business, if you’re working on a side hustle, or if you care about someone who does, you NEED to listen to this episode, We’re talking about steps you can start right freaking now to protect your livelihood from COVID-19, recession, natural disaster, or any number of things we haven’t thought of yet. We can do hard things. We can weather this storm. Stay safe out there: I’m rooting for you.

Do you have a question for Rachel? Wanna share your work from home stories, or have a question about what to do as you move through hard things? Give us a call! Seriously! Call (737) 400-HOCO, and press 1 to leave a question for Rach or Dave (or both). Press 2 to share a story about your journey - it can be about your Start Today Journal, attending a RISE conference, coaching, or anything you want!

The best part? You only have to share your name and voice if you want to? Let us know when you leave your message and we'll take care of the rest.

We can't wait to hear from you ;)


Y'all. We are still pinching ourselves about the latest news out of our podcast network - Trent freakin' Shelton has launched a brand new show with the Hollis Company! That's right, Straight Up with Trent Shelton drops new episodes EVERY WEDNESDAY! Trent brings honest, raw, life-changing wisdom straight from his heart to your ears on a weekly basis. His style is so unique, his message so powerful, we just KNOW this is going to be your new must-listen podcast. Subscribe to Straight Up with Trent Shelton on iTunes, Google, Spotify, Stitcher, or wherever you listen to podcasts by clicking here -> http://bit.ly/trentpod

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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
The presenting sponsor of rise is Zapruder zipper, cruder the smartest way to hire. I wrote a book, that's right, David get out of your own way sceptics guide to growth in fulfilment? It's a book I wrote, and it is out in the world, come on now the book is a story of twenty lies that I once believed that in believing them kept me from being the best I myself had me stuck may not showing up as the husband Rachel deserves or the Father. I hope to be in covering the truth that made these lies unbelievable, I was, to get out of my own way try to in talking through what Took to see the truth in what I was believing do so. Really really honest storytelling and in this Retailing hope that you will be able to see yourself in some of those stories and has you do maybe take some of the
Perhaps I offer at the end of each chapter to help you on stock or keep you out of your own way. The book is reliable anywhere that books are sold. If you like this, hand me reading, guess what I read? the audio version for audible, but there are how many great options that exist at retail? It is literally literally literally available every. You're out of your own way sceptics guide to growth in fulfilment grab your copy today, all right. Where do we even began I I guess we began with. I just wrote an article four, my Linkedin page, so Linkedin is where ten to post all of my content that pertains to being a leader to being a business owner. It's not necessarily the kind of thing that I put on instrument It is really for their audience of people who, who are small,
size, business owners or dreaming of becoming one or want to know about. My leadership. Styles agree. I shall the work thanks, and I went on two linked and last night. This nomad filling done. I swear but it went onto linked and last night, because I thought you know I'm in this, like two weeks of. Dealing with care the virus and how it will affect the economy and then how it affecting the economy will affect my business, and so I went on to win den because I was like I, you know just why read articles and I want to see what other business owners saying, and I got Huntington and there wasn't anything I mean there's lots of information about krona virus, but nobody was talking about it in regards to owning it s, envy so small or medium sized business. In case you don't know but those letters mean I was sort of borne away, that nothing was there because
I have lived through this before. I have been an entrepreneur from seventeen years and I owned a high end of that planning company and two thousand eight, when the? U S account, me fully crashed and I know how hard it is to navigate a recession and what you have to do and how you have to hustle, and so I really thought that I would find this will community of people who are talking about like hey guys, here's how we prepare like there's this whole society of people who are like making sure that they have cans, bear read in their backyard there like the papers right, gaelic prepping for the end of the world, but I don't know where the business community is who's. Talking about, if you own a small business, why are you doing to prepare in case this pandemic becomes worse? oh, I wrote an article about it and I am devoting a podcast to it because you have to have a plan
I really want to start this off by saying this is not fear mongering. Like you know, I don't watch tv, I'm not big on swimming the news and things that make you anxious. This is not that this is if you stick your head in the sand and pretend like things, aren't changing and you on a business or their people, your family members or your employees, who are counting on you to lead them through this you're in trouble, so I just to tell you what I doing and how I approach something like this, with the hopes that maybe it will help you if you, I cannot stress this enough. If you own a business, I don't care where you're listening to this cuz. This is affecting the global economy. If you own a business on earth right now, whether it's a side, hustle or business- and you need that business to can-
you to make money in order for you to be. Ok, please pay attention. I Rachel Hollis and I've built a multi million dollar media company with a high school diploma and the free information I found on the internet in the fifteen years that I've been building and scaling my company, I have become deeply passionate about helping other entrepreneurs to do the same so each week, I'll be sharing tangible and tactical advice and inspiring interviews with the same intention. Bees are the tools to change your life and your business. This is the rice podcast, so here are some of the things I'm thinking about and or doing to make sure that we are great at Hollis, Co.
The first thing is cash. Cash cash cash is queen. I know people the cash is king, but I'm a woman and I'm claiming cash is queen. So if you ve ever you know if you ve taken business coaching with me. If you come to our business conference, you have heard me preach. This teach this ad nauseam over the last several years, because I believe in it so much- and this is so damn you guys, but please just bear with me, have you ever seen a we received the movie armageddon? You did not. Even Can we really are in the movie armageddon? Oh God is it? What is his name Billy Bob Thornton right? You plays the guy who, like runs NASA. My produces looking me right now like, whereas is growing yeah, so billions
or in places like the NASA guy right and there's this scene, where he's like they're all sort of scrambling to figure out. As you know, the asteroids gonna had earth and we ve got to figure this out any like gentlemen. For fifty years, they ve been questioning the need for NASA and now is the time that we prove our worth, and here is a cause of effort. As of today, and that is what I ve been thinking for weak because for years and, like we have this on video, I set it on stage I talked about it over and over and over. I have continued to ask businesses that I meet with what is your plan if the economy, tanks and just really quickly, I'm going to keep say Again and again, I am not saying that that's going to happen, but we need to have a plan in case. We need to have a plan in case, and I will explain why so back to this idea of cash for years, I have been telling small business owners.
What are you gonna do if the economy, tanks- and I feel like I'm really Bob Thornton in armageddon- do you have a plan and you Do you pay you should I hope to God. You already had a plan, but just in case you didn't start here hey guys. You have heard us talk about almost nonstop. Stop how difficult it is to build a team. I think, back in the day when I was young entrepreneur, I thought that the only thing standing between me and a dream team was the financial risks, says to hire them happen. Now that I've been on for for almost seventeen years, I can tell you that just dreaming of us and having the money to pay them is not enough. It actually takes quite a while, even just a fine, great candidates. It's why our new presenting sponsor is appropriate or
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Rise to get twenty percent off your first order. Sakharov dot com, slash rise cash matters most. In a situation like this, where the economy is uncertain? You need to LE jet ask yourself if I didn't make why more dollar for six months? What do I need to be? Okay? What is the business need to be? Ok, I hope that you are in a place where you already have those kind of cash reserves on hand, but if you don't think you're out right now- and I know oftentimes with leaders and small, the soldiers and medium sized business owners. They can be afraid to look at the finances, especially at a time like this, where it's like. I just don't even want now, but there is power in knowledge, so look
what's going on know what your assets are? No, what your liabilities are have a freaking plan. Cash is queen right now, for you, cash is every. And I will tell you with our team at Hollis Co. Everything gets very guest and narrow. On that idea, cash is queen. To that end. Number to act as if, please listen to me, you guys, like I feel, a great now, unlike you're crazy uncle who's. Talking about the end time Aims, but please listen to me until we know, what's going to happen with krona virus and how much it's going to spread and how intense it's going to be in till we know act as
if the effect on your business will be devastating. Let's just act like that, I dont mean panic. I mean wholly crap. What, if like right now we're looking at this thing it at last. I heard it was something like sixty million people in ITALY are quarantined into their community right. What if that happened, where you live, what that means for your business act as if that might occur,. Right now you're like? Oh, that's, not gonna affect me right. Well, if you own a coffee shop that you need People to come inside of in order to buy things from you so that you have money to live in peace. Your employees and said we, everyone in your town is afraid to go into public places. What's your plan if you want a salon that people need to come in and get their hair done. But all
suddenly economy starts to trickle down and people get laid off and suddenly they dont have money to get their hair cut anymore? That lugs we have getting their hair cut in your salon, is the first thing that's gonna go if, people are unsure about what's happening in the economy and they saw me- in big expensive purchases and you own a car dealership, what is your plan saying everything's gonna freak out, I do know that when these things happen, people at least pause, not saying that all of a sudden, we have no money in the world's ending in its zombie apocalypse. I am saying that if you look at the history of recession, you look at what has happened in the history of the economy, when people are on shore, they stop spending of acknowledging their back if you wanna liquor store if you sell cup
if you sell things that actually make people feel good or help them to Celts self soothe those things tend to do better when things are hard, but if you're in a luxury business, if you so close, just please be asking yourself what. If and if you act as if that's going to happen, then, if the Lord is willing and the creek dont rise, you will ever have to figure out your plan, but at least you will have one hour. I third thing get creative you'd better, get Real creative? The amount of brainstorms that have gone on in the Hollis go in the last week are legendary like right. Now I give the example of coffee shop. If I owned a coffee shop right now, I'm trying to figure out what I would need to do to hire delivery drivers. Just in case I give p can't come to me, how do I get the coffee to them if I owned a hair salon that people are afraid to come in to them
I right now would be figuring out what kind of process could I create so that people could book? One of my south to go into their home, so they don't have to come into a public place. Think outside the box. Again, I just think this also will lower your anxiety because you're like ok. If this happens- and I know what I'm going to do number one also when things like that Really narrow our focus, I read as an incredible opportunity. Maybe going to come up with a plan that ends up being this whole great new revenue stream, for you later on down the road that you never would have thought of, otherwise, the people that will thrive in business, no matter what are the ones who are looking for how this is for them you can look at things that are happening in the economy and be terrified or you're like ok. How can I be sure
or as a leader, how can I shall better my community? How can I shall better for these customers? What can I do? serve others in this time, so that I grow in this space. Get creative. The fourth thing that I recommend that you do and that I am doing is Reed or re, read the hard thing about hard things by Ben Horowitz I'll who he went and pulled this book out my old copy of this book. I pull it out last night, like a security blanket and a laughing this morning with my CFO, Oh because I met with her and she's like oh my gosh Rachel. I went home last night and I put the kids too bad and pulled out my copy of hard thing about the hard thing about hard things, and I was dying and like all my gosh me too, so I'm not the only leader. Leans on that book. In a time like this there, so much, there's so much wisdom in it and there's so much
dirty Anna and there's so much like the things that are Nor is don't always talk about. I got the opportunity. The interview been Horowitz on a recent episode of the show, and I fully gushed and noted at him about how much I loved it in particular, there's a chapter in the book that I feel it is really powerful for a time like this, which is the chapter on the difference between a wartime general and a peace time general, which I will sort of paraphrase and tell you you have to act as a very different leader when its peacetime, meaning when the company sizing, when all the money is coming and when you're you're just doing great. That is a very different leader than when the future is uncertain. Now I have a plan and I am conservative as hell when it comes to money and my business, because I always wanted to be safe and I take very seriously the people,
here who are counting on me to be a strong leader, but even still because I'm conservative, I am going to act as if I am war time general until we know what's going on until we what's going on. I'm gonna be there's like this whole lecoq list in the book, which you love I'm just telling you get it, there's a whole list of like a peace and an old. A wartime general does this, and it is incredibly comforting to me in this time period and I think, might be helpful for you too. Yeah, I'm back, and I am too talking about the aura ring again this week, because I love knowing what's going on with my health but I don't really want to wear something big and bulky in order to accommodate. That is why I was so
interested in the idea of this little ring that you wear that tracks your sleep patterns and your heart rate and breathe new life into the world of personal, sleep, health and wellness through a ring, that's tiny and sleek. It looks almost exactly like Dave's wedding banned the ordering tracks key signals from your body. While you sleep, delivering critical insights, helping you harness your buys potential every single day. So if you want to tap into your body and get personal insights to empower your every day had to or ring dot com, sash rise that, oh, you are a ring. Dot com flash rise and get thirty
off your new or a ring for a limited time. That's ordering dot com, slash rise, you ve, gotta, try this ring and the fifth thing that I would suggest that you do right now is obsess over your customer. Not the noose amiss it again obsess over your customer. Not what's going on in the news every thing everything everything that we do at Hollis CO is about the community of customers that we are creating content and
products and experiences for everything is about you guys and because everything is about you, then, even through the lens of what's happening in the world, we have to be thinking about. How does this disrupt your life? How can we better serve you, knowing that you're, probably sky or freaked out, even if you're, not a business owner, you're, probably like what in the world is going on in the world, so how we be more mindful of you as a community and better serve you and I'll. Just tell you some of the things that I've asked the team to do. One is triple down on the goodness that we are putting out in the world like we already put out a ton of content every single day across all of our plat in all of our brands, I want a triple down on it. You know we're seeing right now, even here in Austin, you know that they cancelled south by right and because they cancelled south by people got laid off. That is
devastating, and so how do we make sure that we are a fierce going through your fees and you're, seeing things that are negative, because there, things happening in the world right now that are negative. How can we continue to be the light, and how can we amplify. The good or tell stories that left you up or help you to create practices that you can do that sort of centre you every single day, so we obsessive our customers and I think for you. It doesn't matter who your customer or your clients are ask your self handling of your skills and talents and products and services. How can you use this opportunity to serve your community better yeah. Cuz? I think that so many people are gonna win, win things like this happen. It becomes dislike. It's all about me and what I need- and you know my people and my family and eminent like it when times like this happen, people want to build it
dollar wall around themselves in their family right? They want to make sure that their ok, and for me, unlike we, in this together, we are meeting. People are listening to this cast all over the world right now and all over the world. Every one is dealing with the ramifications of this virus. Every one is scared, some people more than others. Everyone is like. What's going on, every one is like do I need to buy a face mask and I wash my hands better, and I should I be travelling, and what about my kids? And what about me upon like we're all thinking that and if we thinking that then there's a commonality of pain. The world today and how can you as a leader, show up better for others even If your unsure, I feel, like that's a big part of them,
the mantle of leadership, is you being willing to say, like I care enough to try and figure this out for all You know read out in this one area, because I read out in this one area, because I care as much, if not more about that for around me as I do about myself. The six thing that we're due being thinking about overhear, Hollis CO is no new things, no new things your at at this company at any given moment. We are constantly and development of new products and some times, that small things like hey, we want a new. You know cool ball cap for the shop or we want a
new you know journal on the website or whatever. So it's, maybe it smaller things and then sometimes that's a big massive, huge financial undertaking like our rise up, which will come out here in a hot minute, but when some like this happens- and I don't know, what's gonna happen to the economy. Remember I'm acting as if and if I'm act. As if then, I put a pause on everything a literally Thomas and this morning, Anyone who's calling are asking for attention on a project. That's not already like finished and done were just putting a pen in it were pausing everything we're not ordering anything we're not bringing anything in we are working with what we ve got right now, because Cash manners and focus matters? You can very easily be distracted right there. The time where it feels like. My gosh, I gotta take on all the things and suddenly you ve lost your focus and your your lose
traction like. Please listen to me. No new things go back to what are the core values of your company and the core products or services that you offer and rally the team around pushing those forward. How, push these core things forward, even in uncertain times. That's a conversation right now. It is not the time to be like you know what we need. We need shiny, new products that we're sure, I've and we haven't proven in the market, Ya'Ll we are doing a community wide challenge and it's totally free and I am challenging you to join us. It's called neck.
Ninety days as in how can we be intentional thought for leaders for the next ninety days, we're going to need our community we're going to need accountability more than ever? So I want you to head over to the Hollis code, dot com flash next. Ninety the House code, dot, com, slash N T, X, teed, nine, zero and join us every single week Dave and I will be teaching on a different topic, things like perspective or region for joy or dealing with anxiety in these crazy times. We are going to give you so many free resources and surrounded with community when we
did this at the end of last year we had six hundred and fifty thousand people sign up and we feel like it can be bigger and ever come together in a community of like minded people and let's learn how to choose our mindset, no matter what is happening in the world around us, my gut you guys. My gut tells me that we will see at least a pause and consumer purchasing, we're going to see something I think within the month. We'll see a pause, and if that's the case, you launching a brand new product right now is a terrible idea. Focus what is already working and figure out a way to market it. Given the current climate.
Are no new things. The next item on my list is take care of your team to care team we'll be honest with you, one of the things that I do not love about owning a company is like yet I'm three on the near Graham you guys know this about me and threes hate details. We hate him. I hate details like big pick, you're, high level, and so with something like This were there's all sorts of details that need to happen for our teams that they feel very confident. That's not my favorite thing, but you know it is my favorite thing the people who work here and feeling safe and then feeling secure and them, knowing that Mamma has a plan so you know we send out a note today. That was like ok guys, if level wine like. If this is what happens right now with krona virus than this is how will respond level too? If now, it's person, a person in the state of Texas, this is what will do level three.
Now, here's one we would start working from home. If you feel certain are, you feel unsure you wanna know higher insurance works or wait like whatever you need like here. Who you call. If you have questions, you noted the Hr Department Department, how how we want to take care of you and and serve you well, and the thing is I'm positive that that document that we created will continue to evolve over the next few weeks and I hope that they We need a reference it, but them knowing that we are trying to be anticipatory of all of this. Like hey, we don't want you guys to worry about this. Let us worry about this because that's what leadership looks like, so you need to take care of your team. They need to know that you have a plan for their well being. Also that you have a plan for the company, how is the company going to remain solvent, how's the company going to continue to grow and scale? How Are you anticipating what might happen? That's what I think matters to the team
and then the last one on this is one of our core values. Here is we choose joy? We choose joy and I think that this gives us an incredible opportunity to act. That out is how do we bring in more joy. Let's elevate whom you know, I don't know, we have watched Molly Party. That sounds great plan. Do we need? have a dance party ever Will they one fifteen do like? What can we do? maybe your rolling your eyes right now, but that's a culture that we have here. We choose joy, and so what are things that we can incorporate not just to triple down on the joy were putting out into the world, but on the joy that were creating here amongst the four walls of our office, two inch that everyone knows that we also see that being the people who pump everybody else up and who lived everybody else up and who create all this content that also takes at all. So even those
pour out into others also need to be renewed and restored, and so what are we doing as leaders at polish Company to make sure that, where serving our team well in that, so take care of you in the last thing that I'll say is take care of yourself, honest flee, Yawl, drink the freaking water get sleep, take supplements move your body for thirty minutes, every single day, eight fruits, vegetables, that our green practice grass to do these things, not because you're trying to not get sick with Virus do these things, because, in order for you to effectively led through this situation, and you are going to have to be the strongest version that you are capable of being. You are going to have The level up this will work.
Are you to be bigger and greater than you have ever been before, and I We know that you are capable of that. You are not going to be able to elevate yourself if you don't care for yourself, so that that look. I I am. I understand that I teach on this topic and I understand I have worked so hard to get past The place where I choose negative copy mechanisms not lie last night. I was gone on Linkedin to see what I should say. I absolutely had a vodka soda and then I had a cookie and those are not things that normally come after my dinner but I was just like I felt like now: like I just so many decisions to make it all the way- and I would just like I just want to choose oh, and I want to treat myself with this cookie that was ice to look like the covered Dave's book. It just felt like when I needed in my life
and even I am human enough to occasionally dip into self soothing tendencies. But I also understand that, in order for me to navigate this well in order for me to be a great leader, a great wife, a great mama, even an uncertain times that I have to care of myself first, so I can be human and have the moment where I make a decision that I wish I hadn't made when, though, that cookie was delicious, but every day I am making sure that I am grounding myself in the morning that I'm doing the Gratitude Practice I'm doing the work that I'm getting centred. If you dont have a start today journal. I think most of you do. But if you don't have it go? Listen. Episode. Seventy two of this podcast go here. About how I, sir, every single day of my life, because right now more than ever, you need to do something that centres you and reminds you who you are.
This is one of those podcast or one of those pieces of advice that you're not gonna, know you need until it's too late, and maybe nothing comes Ass may be by the time this errs on Tuesday next week. This is all over and it's not a problem anymore, but just in case be a strong enough leader to have a plan, don't back away and don't hide from this, there are ways for you to successfully navigated. If you get in front of it. The problem is when you start brainstorming, two months from now, and you ve already run through and burn through cash, and you don't the runway that you need to even implement the plans. What I'm trying to do is get you ahead of the game. Start planning now, our implementing now start saving. Now I hope that you guys have found this help. Ball check in with me on social. Let me know screen shot at. Tell me what you thought and I'm not an
at all, but Linkedin is where I post all of my business, an entrepreneur content. So if you want to check out all the articles I've written. They only live there to learn all the things it's you literally just whatever on my brain, so you're gonna find a hotchpotch of anything and everything, but my tension. There is always just to serve you guys and give you the information that I wish I'd had early in my career. I will see you, I guess I won't see you, but I will talk to you next week on the rise, podcast and until next time. I love you guys and M rooting for you guys it's Rita, Hollis and I'm here is my friend Trent Shelton was a rigid. I live in the dream, man we you too, listeners. Why we're hanging out together right now we're going? because we're launching my new package straight up and I'm supermax seller, add if you guys you're, not already familiar attract. He
millions and millions of fans all around the globe who come to him for a very unique style of coaching yeah, human rights- are the point as real as I can put it, from the heart and break it. Do those native mindsets breakin through of withholding you back in Mostar, we have people's lives for love that so You guys want here, more you're, already listening on a podcast platform, go subscribe to straight up with Trent Shelton Short: let's go. There is good.
Transcript generated on 2020-04-01.