Stabilize Your Business Foundation in the Downturn Recap

Whether you’re a seasoned entrepreneur or have recently launched an idea, the implications of COVID-19 are forcing business owners to focus on the basics. Learn how to fundamentally structure your processes in order to gain a greater understanding of how to make critical business decisions during the downturn.

Hear from Kim Grotto of Grotto Marketing, Lauren Barron from Fiercely You, Inc., Kim and Art Angel from E2A Partners.

They discuss how to create a stable business foundation by utilizing a combination of strategy, financial best practices, customer personas, pricing, key data collection and marketing strategy.

Stay tuned for more video highlights from this webinar!

Focus on What You Control

Kim Grotto of Grotto Marketing

  • Do not make decisions out of fear, shift your focus to what you can control
  • Having a responsive versus reactive mindset allows for wiser decision making
  • Be mindful of where you invest your time and energy


  • Let Financials Work For You

    Lauren Barron from Fiercely You, Inc.
  • Financial analysis encourages strategic operational planning and decision making
  • Establish a system that encourages financial best practices and recording
  • Let your finances work for you by taking advantage of information they provide
  • Your strategic plans and your financial expectations go hand-in-hand


  • Customer Success vs Business Development

    ID Managing Director Travis Linderman and E2A Partners Kim Angel

  • Ensure that your customers are utilizing your services optimally
  • Direct your focus to current customers which will lead to long-term loyalty and retention
  • Don’t neglect those who already trust you and your product


  • Trending Numbers and What to Do

    Lauren Barron from Fiercely You, Inc.

  • Take a closer look at an income statement, balance sheet, and cash flow comparison with Lauren Barron
  • Ask yourself three important questions: Why are my numbers trending the way they are? How did it happen? What am I going to do about it?
  • Utilize these resources to gain a better view of the trends in your business


  • Intimate Knowledge of Your Customer Profile

    Lauren Barron from Fiercely You, Inc.

  • When determining pricing, analyze who you are serving and what their needs are
  • Pricing decisions are influenced by many internal and external factors
  • Cost of goods sold and cost of services may require obtaining various quotes


  • Building Your Strengths & Consistency

    Kim and Art Angel from E2A Partners.

  • Recognize what you are good at and what is working for your business
  • This is not a time to start from scratch, learn to pivot by identifying adjacent services/products
  • Do not assume customers behaviors based on past experiences
  • Realize who you are to the core and how viewers see you


  • Innovation DuPage can help transform your idea into a viable commercial venture. Connect with us on Instagram, LinkedIn, Twitter, Facebook or call 630-942-3340 to explore your next steps. If you are interested in connecting with entrepreneurs like you, check out our public events.

    Making Business Decisions As you Navigate the Downturn Recap

    Missed our last webinar? View: Making Business Decisions as you Navigate the Downturn with Kim Grotto, Lauren Barron, Kim and Art Angel. They are ID members and small business owners discussing topics ranging from marketing to financial planning. Check out the videos below!

    Don’t Miss Our Next Webinar!

    Create a structure upon which to understand and make fundamental business decisions in a time of re-evaluation. Learn how to create a stable business foundation by utilizing a combination of strategy, financial best practices, customer personas, pricing, key data collection, and marketing strategy. Run time: Approximately 60 minutes.

    Part 1: Cash is King

    Kim Grotto and Lauren Barron, Fiercely You

    • “Cash talks and everything else mumbles”
    • Businesses should utilize a 13-week cash flow forecast. This high-level tool can give a cumulative figure of your cash flow or cash burn. In simpler terms, it is reconsolidating your checkbook for your business.
    • Consider your customer demand. If there is a continued need for your product or service but people are not able to access the way they normally would think about other ways you can provide.

    Part2: Marketing

    Kim Grotto, Grotto Marketing

    • “The opportunities are there it is all about how you take advantage of them”.
    • Marketing is far more strategic and methodical than many come to believe. Articulate and communicate their brand, mission, values and products in order to expand their reach, earn revenue, increase loyalty and market share.
    • Know your audience. Prioritize current customers and the needs you can fulfill for them. Stay connected to key partners and employees.
    • Learn about the Four C’s: Cohesiveness, Connection, Communications, and Create and how to apply them to your business.

    Part 3: Hunting for Data!

    Kim Angel and Art Angel, E2A Partners

    • Hunt for data and learn to interpret it. Look for information that you can apply to your business model. It is time to assess the ways in which to drive your business forward. Don’t make assumptions based on past behaviors.
    • The “come to us” mentality for retailers and services is a thing of the past. Your business needs to tune into the “we are there for you” mindset.

    Part 4: Communicating Values through Emails

    Lauren Barron, Kim Grotto, Kim Angel and Art Angel

    • Q: What is the relevance of newsletters and today’s COVID-19 saturated emails? How many emails are too many?
    • A: If the information is relevant and serves value, say it! Take a look and analyze your audience’s pain points, how they are feeling or the message they need to hear?
    • Resend your emails about three days later. Not only that, but you should really put thought into your subject and preview line as well. Grab the readers’ attention and give them a reason to stop and engage.

      Consider your call to action. What response are you looking to get? Drive your content around that goal and then you will know if the email was successful.

    Innovation DuPage can help transform your idea into a viable commercial venture. Connect with us on Instagram, LinkedIn, Twitter, Facebook or call 630-942-3340 to explore your next steps. If you are interested in connecting with entrepreneurs like you, check out our public events.

    Business Idea Competition: Final Round

    Concordia University Chicago will livestream the finals of their CougarTank business idea competition to students, alumni and the startup community. CougarTank encourages young creators to apply their entrepreneurial prowess to bring their innovative ideas to life. Through this competition, students go head-to-head presenting their business models to a panel of seasoned entrepreneurs and alumni. After conquering multiple rounds of scrutiny, the final five teams have been selected.

    The CougarTank Final Round
    April 17, 2020 – 5:30 to 7:30pm

    Groups will present in the following order:

    Amazing Feet 5:30-5:55pm, Doc In a Box 5:55-6:20pm, Ru, The Toy Guru 6:20-6:45pm, Stylo Closet App 6:45-7:10pm, Sync.Lync 7:10-7:35pm.

    Here is a profile of each emerging company and the founders who are building them:

    Amazing Feet – Nivedita Kadambi & John LeMieux


    Amazing Feet is planning on making big waves in the podiatric industry. The concept is simple – using a 3D scanning device, a podiatrist would scan a patient’s feet and then deliver the resulting images/orthotic corrections through the Amazing Feet app. This technology could give patients the flexibility of purchasing custom shoes on demand.

    Doc in a Box – Brian Harris & Kristen Landon

    Maintain good health while in college with Doc in the Box. Doc in the Box is looking to help full-time, undergraduate students gain easy access to healthcare. This service would utilize technology to suggest self-administered care for non-urgent situations and reduce the stress of finding coverage. The cost would be affordable due to the plan being included in the student’s tuition and fees.

    Ru, The Toy Guru – Emily Hynan & Jason Slusher

    Do you fret about shredded dog toys all over your home? Ru, The Toy Guru has the solution for you. This dog toy company’s concept involves soft, industrial-strength Velcro. Unlike other products on the market, this toy provides a unique, money-saving twist. It is meant to be ripped apart and put back together. Built to endure a profound amount of puppy pulling, owners can simply push the pieces back together each time it “rips”. Let your furry friend play and be rough, without worrying about your wallet.

    Stylo Closet App – Kanwal Irfan

    The Stylo Closet App aims to solve a common dilemma that many face when standing in front of their closet. What do I wear? The app accesses thousands of looks curated specifically for you. How it works: Stylo Closet takes pieces from your wardrobe (uploaded by the user) and generates options based on the clothes you already own. This app differs from its competitors by suggesting trendy hair and makeup ideas. It also connects users to fashion influencers that can inspire personal styling decisions.

    Sync.Lync – Anna Krenz & Antea Pela

    Are you tired of your phone battery dying when you’re on the go? Generate energy with Sync.Lync. This fitness band converts human movement into power for your smartphone. This device pairs to a fitness app with an assortment of workouts and encourages community activity. It also includes a safety feature for emergency situations.

    Stay Connected

    Learn more about Concordia University Chicago’s CougarTank program here.

    Explore the other various programs they have to offer by visiting their website.

    Connect with CUC on Instagram, LinkedIn, Twitter, Facebook.

    Innovation DuPage can help transform your idea into a viable commercial venture. Connect with us on Instagram, LinkedIn, Twitter, Facebook or call 630-942-3340 to explore your next steps. If you are interested in connecting with entrepreneurs like you, check out our public events.