QuickBridge provides small businesses with loans and expert financial guidance, and had to quickly adapt when the coronavirus pandemic hit. After news of the NBA shutdown, Ben Gold moved his company to work-from-home, and ultimately stopped all lending. When the economy reopens, QuickBridge will have to consider the capacity of the economy and businesses, and stricter loan limits. Facing a difficult couple months, Ben talks about layoffs, what rebounding looks like for QuickBridge, and adjusting to new norms. Learn all this and more in this episode of Back to Business: COVID-19 & You.
The 4 Ps (People, Process, Partners and Platforms) is a framework we use at Fratzke Media to set the foundation for our client’s digital transformation. In talking with Ben, we found that Quickbridge’s response to the coronavirus pandemic hit on each of the 4 Ps.
COVID-19 has changed the way businesses operate, but it’s also affected internal operations as well. Mid-size businesses need to be thinking about the safety of their customers and their employees. Like Ben mentioned, how can they be a company that says they care if they can’t keep their employees safe? He had his employees work-from-home quickly, even before there was a set protocol, because his employees come first.
The New York Times writes that during this time, employees have found greater job satisfaction working remotely, and it can lead to higher productivity and less sickness. Some workers have highlighted their appreciation of compassionate management. In times of uncertainty, it’s important to ensure your employees feel like they’re a priority.
Every company’s process has changed in the wake of coronavirus. For QuickBridge, Ben needed to quickly establish a work-from-home process, which was something that the company never needed to do before. They had to get different departments functioning from home, which was more challenging for some teams than others. Their sales team wasn’t on a cloud phone system, so the transition for the team was a little more complicated.
QuickBridge’s transition is just one example of change as a result of COVID-19. Ben’s candor about the entire transition showed how flexible he has been during this entire process. Flexibility is needed at a time like this, and can help companies operate smoothly in the coming months.
At times like this, it’s important for businesses to rely on each other, especially with so much change occurring. It’s the perfect time to find business partners right for you. In QuickBridge’s case, Ben needed to bring in outside help to assist with the phone service transition for their sales team. It’s not something they could’ve done alone, and with the help of the right partner, they were able to get their sales team up and running from home.
With the push for digital, companies are dealing with many transitions and emerging consumer trends. Now is the perfect time to find partners to guide you during your transition and help you optimize your mid-size business to meet the needs of your customers and employees. Making that investment now can help you business survive and even thrive in the new normal.
Rebounding from COVID-19 requires optimizing all platforms. With online selling, delivery apps, and more on the rise, it is changing the way customers are shopping. Are you properly leveraging all of your platforms to get optimal results?
BDO’s article about the rise of the digital economy mentions platformication, which focuses on the adaptation of different industries to utilize their digital platforms. This takeaway is the perfect companion to our third “P”, Partners. If digital and digital marketing aren’t in your wheelhouse, finding someone to help you is crucial for the future.
QuickBridge was founded in 2011 to fund small businesses unable to easily access working capital. The company set out to make funding easier, but also to provide guidance and support. Through commitment and innovation, Ben grew QuickBridge to one of the country’s leading alternative lending working capital providers for small and medium-sized businesses.
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