Mar 30, 2020
In episode 245 of Financially Simple, Justin talks to Jon and Wesley, The Dental Guys, about closing down a dental business while taking care of their teams.
The current COVID-19 crisis is forcing the hand of many businesses, both small and large, to close and lay-off staff, or where possible pivot into other areas. Justin, Jon, and Wesley discuss how the pandemic has affected their dental practices, and how they have managed the closures and supported their teams.
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01:08 - Ask Justin featuring The Dental Guys: Handling the COVID-19 Crisis
03:11 - Decisions Made Due to the Virus
09:27 - Telling the Team
12:30 - Closing Down: The Thinker Approach
18:06 - The Feeler Approach
22:32 - Starting Back Up
29:35 - Retaining Laid-Off Team Members
36:35 - Jon’s One Piece of Advice
41:47 - Wesley’s Advice
45:47 - Wrap Up
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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.