Coronavirus Response: April 9

Coronavirus Response: April 9

Daily Update

 

The value is in the relationship—online trainers Brad Overstreet and Mike Watson share many of the same sentiments, though their delivery methods are different. Listen to Overstreet on Two-Brain Radio today: Click here.

 

Today’s Tactic

 

When new online clients sign up for higher-value one-on-one packages, provide them with some tools they need to be successful. A surprise welcome package including bands, a phone tripod, a yoga mat and a foam roller can cost just under $80, but Overstreet says this gift boosts retention by several months.

 

News

 

Some European countries begin to roll back coronavirus restrictions. Austria and Denmark are taking the first tentative steps and might offer a preview of how other countries will eventually lift restrictions in stages. Read more in The Washington Post.

 

Key Resources

 

The application period for Canada Emergency Business Account loans begins today. Eligible businesses will receive up to $40,000 in government-funded interest-free loans to cover short-term operating expenses, payroll and other non-deferrable expenses. Additionally, the Small- and Medium-Sized Enterprise Loan and Guarantee program is available for operational cash flow.

RBC: Click here.
Scotiabank: Click here.
BMO (accepting applications soon): Click here.
CIBC: Click here.
TD: Click here.

Our contact at the Business Development Bank of Canada (BDC) is Nadia Amaral: nadia.amaral@bdc.ca

The Two-Brain Business COVID resources page is updated regularly with key info.

Click here to visit and bookmark the page.

 

Coronavirus Response: April 8

Coronavirus Response: April 8

Daily Update

 

The hardest part of online coaching is getting clients. Great news: If you’ve just pivoted from in-person coaching to online, you started with clients already!

The second hardest part of online coaching is keeping clients engaged. The key to doing that is building your service on what people actually want instead of trying to provide only services you’re comfortable selling. Important truth: That thing you used to sell isn’t what people are buying online. Read more: “What Are They Buying?”

 

Today’s Tactic

 

Call your five best clients. Ask if they’re enjoying your service. Ask for their favorite part. Then ask if any of their friends could use a little extra help right now.

 

News

 

The Economist: “With Millions Stuck at Home, the Online Wellness Industry Is Booming” (register for The Economist’s newsletter to view)

 

Key Resources

 

Today at 1 p.m. ET in the private Facebook group Two-Brain Business Online Coaching: Mike Watson, a Catalyst coach since 2005, talks about how to help your trainers pivot to online coaching. Bring your questions, and we’ll record the talk for your coaches to watch later.

 

The Two-Brain Business COVID-19 page has details on the application processes for the Canada Emergency Response Benefit and U.S. Paycheck Protection Program.

Click here to visit and bookmark the page.

 

Coronavirus Response: April 9

Coronavirus Response: April 7

Daily Update

 

Everyone is watching you—your members, your staff, your family and even other gym owners. Now is the time to lead—but what does that mean? What specific actions should you take? What should you say? Read about an actionable strategy—the CALM method—here.

 

Today’s Tactic

 

If you’re in the U.S., file for your Economic Injury Disaster Loan (EIDL) or Paycheck Protection Program (PPP) package today. Which should you choose? How do you do it? Use our resources below to cut through the noise and take action.

Some highlights from yesterday’s webinar with Two-Brain CFO Veronica Cram:

PPP

– Apply through your branch. Local banks and credit unions seem to take action faster.

– It’s OK to apply through multiple places.

– Group part-time staff together to create full-time equivalent roles.

– Your 1099 workers can file for the PPP on their own as independent contractors starting April 10. If you try to include their 1099 pay in your application, you could be double dipping.

EIDL

– Choose the EIDL route only if there will be long-term losses.

– Apply through the SBA.

– No personal guarantee.

– You no longer have to prove that you can’t receive funding elsewhere.

 

News

 

U.K. Prime Minister Boris Johnson has been moved to intensive care as his COVID symptoms worsen: BBC.com.

 

Key Resources

 

An amazing side-by-side comparison of the PPP and EIDL options: Click here.

The PPP Borrower Application Form: Click here.

An incredibly valuable PPP loan workbook: Click here.

Emergency Loans Small Business Guide: Click here.

 

The Two-Brain Business COVID resources page has been updated with new info on the CERB (Canada) and PPP (U.S.) programs.

Click here to visit and bookmark the page.

 

Coronavirus Response: April 8

Coronavirus Response: April 6

Daily Update

 

U.S. and Canadian banks should be prepared to guide you through government applications for short-term funding that will buy you a little time. What you do with that time will ultimately determine if your business will succeed in the long term.

 

Today’s Tactic

 

If you qualify, apply for the Canada Emergency Response Benefit. If you have workers who qualify, direct them to apply. Click here.

Watch this video from John Briggs of Incite Tax and apply for the Paycheck Protection Program (U.S.): Click here to apply.

 

Weekly Schedule for Two-Brain Clients

 

Today at noon ET—Simple Numbers: SBA Loan Application Webinar, with Veronica Cram. Register here.

In our private Facebook groups:

April 8, 1 p.m. ET—Mike Watson on efficient customization of client programs.

April 8, 3 p.m. ET—Jeff Burlingame on how to sell online.

April 10, 1 p.m. ET—Brad Overstreet on onboarding new online clients.

 

Key Resources

 

Podcast: Sales in the Time of COVID-19: What People Are Buying and How to Sell It, With Jeff Burlingame

 

The Two-Brain Business COVID resources page has been updated with new info, including details of the application process for the Canada Emergency Response Benefit and U.S. Paycheck Protection Program.

Click here to visit and bookmark the page.

 

Coronavirus Response: April 9

Coronavirus Response: April 3

Daily Update

 

Government bailouts are helpful, but they won’t be enough to sustain your business for three months. More than ever, it’s up to us to take control of our businesses and help our communities recover.

Whether you love coaching online or hate it, it is your path forward for the next 90 days. The skill set required to deliver online coaching isn’t quite the same as that required to coach an in-person group. But the digital one-on-one conversations you have now should make you a better coach long term.

 

Today’s Tactic

 

Build your online business the way you build an offline business:

– Start with the people closest to you: Determine what they need most right now.

– Offer to help them.

– Extend the offer to their friends.

– Tell the stories of your earliest clients’ successes.

– Extend the offer of help to your entire audience.

It sounds simple, but this is the marketing strategy that keeps gyms growing. The actual tactics involved can vary. Choose the ones that work for you—but don’t lose sight of the process, and don’t skip steps.

 

News

 

CrossFit’s Support Your Local Box online event starts today! Sign up here.

 

Key Resources

 

Chris Cooper: “What if You Hate Online Coaching?”

Chris Cooper: “What if You Love Online Coaching?”

 

The Two-Brain Business COVID resources page is updated regularly with new info.

Click here to visit and bookmark the page.