March 2020 - In This Issue:
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Dear CEO's,
We are sending you this in a time of significant uncertainty and market shifts that haven't been seen by most of us before. We have been in conversations with many of you as you navigate this crisis and are available to all to assist you in thinking about how to manage your nascent, yet growing, businesses in this time. Your leadership has reminded us of why we chose to invest in you and your companies in the first place. We know female-led companies are resilient and used to being scrappy, and this is a period where your leadership is coming through.
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This can be a period of information overload; to that end, we have quickly revamped our CEO Newsletter to provide the information that we have found the most useful over the past two weeks, some sourced from other founders like you. We know you are focused on your customers, partners, teams, and families. That is why we have been diligently scouring the news and are reaching out to our peer networks on how to best help steer your businesses in these times.
A couple of quick asks of you:
- If you found this helpful - please let us know and we will continue to send periodic digests in this rapidly shifting environment.
- If it would be helpful to get on a brief conference call with other Golden Seeds CEOs and founders to discuss what is working and what isn't - we are willing to facilitate that for you.
Many of us on the investor side have lived through multiple recessions and black swans in our careers (unfortunately) and we are more than willing to lend an ear and offer our advice in this time. Feel free to reach out with any questions you may have by using this
link.
Regards, The Golden Seeds Investor Network |
Leadership Advice During a Crisis
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What leaders need during a crisis is not a predefined response plan but behaviors and mindsets that will prevent them from overreacting to yesterday's developments and help them look ahead. In this article, you can explore five such behaviors and accompanying mindsets that can help leaders navigate the coronavirus pandemic and future crises.
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Informed by governmental and health guidance, legislative developments, and industry practices, here are some common workforce-related questions fielded over the past several days, along with general answers. |
8 Questions Employers Should Ask About Coronavirus
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This epidemic is a wake-up call for companies to carefully review the strategies, policies, and procedures they have in place to protect employees, customers, and operations in this and future epidemics.
Here are eight questions that companies should ask as they prepare for, and respond to, the spread of the virus.
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Strategy in Times of Sustained Uncertainty
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Implications for Business
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"The coronavirus outbreak is first and foremost a human tragedy, affecting hundreds of thousands of people. It is also having a growing impact on the global economy. This article is intended to provide business leaders with a perspective on the evolving situation and implications for their companies." |
"Coronavirus: The Black Swan of 2020" - Sequoia Capital's published letter to founders and CEOs
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Sequoia Capital told its entrepreneurs to "question every assumption about your business" related to cash, fundraising, sales forecasts, marketing, headcount, and capital spending. Read the full letter
here.
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Funding in the Time of Coronavirus
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Mark Suster, entrepreneur and venture capitalist, provides views on what we might see in the funding markets ahead. "A $40M pre-money deal today may fund at $20M pre-money in 6 months..."
link to deck.
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Panel Discussion: Outlook in a Year of Uncertainty
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Register
here to participate in
a
virtual panel discussion on Tuesday, March 24 at 10am
focused on the impending U.S. Presidential Election. What can you expect in the months leading up to the election and what affects could multiple business lines face? Critical topics such as economic growth, monetary and electoral policy, valuations and M&A, and business spending are top of mind for many industries. Join the S&P Global Market team as they discuss these questions along with the most recent challenge of COVID-19 and their potential impacts on election season.
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We are hearing of increased cyber attacks during this period, here are three practical actions that you can take to stay safe online from the
World Economic Forum:
- Review your digital "hygiene" standards
- Be extra vigilant on verification
- Update your system software and applications regularly
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Video Conferencing Best Practices
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Here is a quick
link to share with your team discussing the "ways to to be more efficient and effective on conference calls...
It's important to remember that video conferences are essentially in-person interactions that allow businesses to communicate more effectively."
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How to Get People to Participate in Virtual Meetings
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In situations where you can't demand attention with ocular oppression, you have to learn to do what we should've mastered long ago: create voluntary engagement.
Read on...
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What Employers Need to Know About the Families First Coronavirus Response Act
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Starting April 2 the Families First Coronavirus Response Act will take effect. The Act provides funding for
free COVID-19 testing, food security programs, and unemployment benefits. It also makes significant changes to the Family Medical Leave Act (FMLA), mandating that employers with fewer than 500 employees provide paid Emergency Sick Leave and Emergency Family Medical Leave to qualifying employees. Link to more information.
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Facebook Small Business Grants Program
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If your business is experiencing disruptions resulting from the global outbreak of COVID-19, then a little financial support can go a long way. Facebook is offering $100M in cash grants and ad credits to help during this challenging time. Find out more
here.
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The U.S. Small Business Administration has the ability to offer small business owners across the U.S. as much as $50 billion in loans to stay afloat during the widening economic shutdown caused by the coronavirus. Read more here for eligibility and terms. |
COVID-19 Business Resource Center
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"Access financial support, navigate government programs, find enterprise discounts and virtual events, and support your employees with the resources curated here. Through the Center you can connect with peers and experts to get the help you need, and share best practices to lift each other up." |
We Find It Helps to Maintain a Sense of Humor
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