April 14, 2020

Ep147: Are You Down with PPP?

Ep147: Are You Down with PPP?

Are you and your business applying for support from your government during COVID-19? Your answer might say more about your style of entrepreneurship than you think! Why is that important for business?  The very characteristics that make someone...

Are you and your business applying for support from your government during COVID-19? Your answer might say more about your style of entrepreneurship than you think!

Why is that important for business? 

The very characteristics that make someone prepare for these kinds of circumstances in business are the same characteristics that make people apply for this help, regardless of urgency of need.  The very thing that makes someone a billionaire, for another example, is the same thing that leads them to cash a cheque for $1.11 (or even $0.64, in Donald Trump’s case - https://www.celebritynetworth.com/articles/entertainment-articles/billionaire-cash-13-cent-check-someone-actually-conducted-experiment/). 

It’s interesting contemplating what would make a difference between someone who would rather have it and not need it than need it and not have it, and those who just choose not to ask for help until they absolutely need it. This might have something to do with the distance in time some people can think. Some people only think a day or so ahead, while others can clearly see things a year out. If you’ve seen this kind of planning ahead modeled, it might not be natural. 

It’s also possible that some businesses are thinking more about their employees and are planning ahead because they understand the wide net that is cast with their business. And those that don’t plan so far ahead might not have employees to even consider. 

And for others, taking aid, like buying paper towels, can feel like a moral decision. If you don’t really need it, should you take it?

Lastly, it has a lot to do with an individual’s or business’ comfort with uncertainty. The successful businesses of the future are probably going to be those who start to grow their comfort with uncertainty and adaptability now. 

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