Troy Monroe (center), with 2 of his employees. Photo credit: Troy Monroe
We asked readers to tell us about how their businesses are coping with the coronavirus. We’re featuring highlights of those conversations here.
In business, hitting the 5-year mark is cause for celebration. Troy Monroe just blew out 5 candles for Scout Collective, his brand and digital marketing studio.
“Everybody says if you can stay in business 5 years, that’s the tipping point,” he told us. “And then a day later, everything imploded.”
Last year, Scout Collective brought in $260k. Monroe said he expects the pandemic to reduce business by 10-25%, because in times like these, marketing budgets get squeezed.
All is not lost, however. Monroe says he sees opportunities in appealing to community, and marketing with emotion. When businesses are open about what they’re going through, he said, customers will support them more.
That mindset mirrors how he’s communicating with his own team.
“When you run a small business, it’s not just about numbers, it’s about people,” he said. “The people matter to me more than the financial side of it. The only thing I can guarantee right now is honest and open dialogue and complete empathy.”
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