During periods of economic downturn, it's very easy for small business owners to get trapped in survival mode, where they are willing to do anything in order to keep their business afloat. But while there will inevitably be some sacrifices that you'll need to make during these challenging times, they should never come at the expense of your core values. In this episode, John Aidukonis and Gene Marks along with Luke's Lobster founder, Luke Holden, discuss the importance of core values and how small business owners can uphold them even in the midst of an economic crisis.

0:16—Today's Topic: How Can Business Owners Stick to Their Core Values during Times of Economic Crisis?

2:09—Times of crisis can often give birth to the best business ideas. Similarly, they can also force businesses to adapt or branch out in ways that they didn't think possible.

4:56—Because of the high unemployment rates during periods of economic downturn, small business owners have more access to a bigger talent pool.

5:49—The most successful small businesses are those whose core values really resonate with their client base. In the case of Luke's Lobster, their customers appreciated how the restaurant created a market for other struggling businesses.

7:57—The three main core values that have enabled Luke's Lobster to thrive are taste, transparency and purpose. “Taste" refers to the quality and integrity of their products. “Transparency" describes their dedication to make decisions that benefit all members of their business. “Purpose" is their overall mission beyond their primary business objective.

13:13—One of the benefits of downsizing during difficult times is that it forces business owners to really streamline their operations for optimal productivity.

14:05—Transparency with your employees is extremely important during crisis periods because it gives them enough time to get their affairs in order.

18:05—Don't be afraid to seek federal support if your small business is struggling during this time.

19:30—If you run a restaurant, you should apply to the Restaurant Revitalization Fund. This program offers grants of up to $10 million based on whatever your shortfall is between 2019 and 2020.

20:44—Regardless of how bleak your circumstances are, never deviate from your core brand values.

• Luke's Lobster
• Keeper Fund
• B-Corp
• Restaurant Revitalization Fund

The views and opinions expressed on this podcast are for informational purposes only, and solely those of the podcast participants, contributors, and guests, and do not constitute an endorsement by or necessarily represent the views of The Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast, brought to you by The Hartford.

This podcast is brought to you by The Hartford. When the unexpected strikes, The Hartford strikes back for over 1 million small business customers with property, liability, and workers compensation insurance. Check out The Hartford's small business insurance at TheHartford.com.

For a lot of small business owners, fostering an open dialogue about mental health in the workplace can pose a real challenge. On the one hand you don't want to ignore such an important issue, but at the same time, you don't want to cross any personal boundaries. So, how do you broach such a sensitive subject with your employees? You start by removing all the stigma attached to it. In this episode, Jon Aidukonis, Gene Marks and Mental Health America CEO, Paul Gionfriddo, discuss how small business owners can create a nonjudgmental environment that supports the mental well-being of their workforce.

0:38—Today's Topic: How Can I Normalize Conversations about Mental Health Issues at My Small Business?

1:12—As their name suggests, Mental Health America focuses on the prevention, intervention and treatment of individuals who are struggling with their mental health.

3:07—Despite more awareness regarding mental illnesses, society still does not view or prioritize these conditions the same way they regard physical illnesses.

4:21—One reason there is so much stigma surrounding mental health within our work culture is because our society tends to approach this topic as a public safety concern rather than a mental health concern.

6:48—In order to promote an open dialogue about mental health at your workplace, small business owners must lead by example and be open about their own mental health experiences.

9:14—It's time to acknowledge that everyone struggles with some form of mental health condition so that we can finally destigmatize these conversations within the workplace.

12:03—As a business owner, you need to set an example for the rest of your staff by tending to both your physical and mental well-being. Rather than overworking yourself, draw boundaries that demonstrate a healthy work life balance.

14:17—If you are struggling with your own mental health issues, delegate some of your duties to your other employees. This decision will not only lighten your workload, but it will also ensure that your business continues to run efficiently.

16:47—The more mental health support we provide our employees, the better their work quality will be.

18:51—Business owners should get employee feedback regarding the mental health services they provide; these surveys ensure that your workforce is actually benefiting from these resources.

19:21—Encourage your employees to get regular mental health screenings or provide them with the resources to do so. If they seem reluctant, remind them that they have complete control over their privacy as well as their choice of treatment.

24:05—Some indications that your employees are struggling with their mental health are as follows: a decline in their productivity; frequent complaints; an increase in absences; and significant changes in their normal lifestyle habits.

25:07—If you suspect that your employee has a mental health issue, the most important thing you can do is to create an environment where they feel comfortable and supported.

• Mental Health America

The views and opinions expressed on this podcast are for informational purposes only, and solely those of the podcast participants, contributors,

When many new business owners hear the phrase “content marketing," their thoughts immediately run towards clickbait-type headlines or SEO terms. However, the most successful content marketing does more than just generate leads. It allows you to build a relationship with your potential customers by presenting yourself as an expert in your field. So, how do you create engaging content for your readership? In this episode, Jon Aidukonis and Gene Marks, along with special guest Jason Morrison of JJK Digital, discuss how the pandemic has impacted the type of content we consume and how small business owners can capitalize on these trends.

0:24—Today's Topic: How Do I Use Content Marketing to Build My Small Business?

1:28—For small business owners, content marketing serves as an essential tool for both generating leads and building lasting relationships with your customers. Long form content is particularly valuable because it allows you to demonstrate your expertise on a specific topic.

3:01—Content marketing is less about advertising and more about educating; effective content marketing should provide your readers with the answers they need.

4:49—Although centering your content around SEO terms might funnel more traffic into your website, you still need informative and engaging content to retain your audience and help your readers make the right decision.

8:02—Because of the shifts occurring in the way that search engines rank pages, there is a greater need for long form content among small businesses.

9:38—Whether out of necessity or curiosity, COVID-19 has motivated many people to start their own small businesses from home.

12:20—Thanks to technological advances, you can easily start a new business with a modest amount of startup capital. With so many people telecommuting for work, you might also find that you have more time and flexibility to pursue an additional side hustle.

14:48—If you are currently in a position where you have both the time and the resources to invest in a small business, this pandemic is an ideal time to launch your new venture.

• JJK Digital Enterprises

The views and opinions expressed on this podcast are for informational purposes only, and solely those of the podcast participants, contributors, and guests, and do not constitute an endorsement by or necessarily represent the views of The Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast brought to you by The Hartford.

Jon: Hello everybody, and welcome back to another episode of Small Biz Ahead, the small business podcast presented by The Hartford. I am Jon Aidukonis, and joined today by my always co-host Gene Marks and a special guest, Jason Morrison from JJK Digital.

Jon: Today we're going to be talking a little bit about content marketing, the growth of that channel, and how you might be able to think about that as a tactic to your marketing mix. And also what it's like to start a business in the middle of a global pandemic, when all you hear about in the news is small businesses closing. So excited to get into it. And Gene and Jason, how's it going?

Gene: It's going well, Jon. It's funny, I was just writing about today. I wrote for the Inquirer, and I have another piece that's coming out about startups. You mentioned about starting up in a pandemic,

Over the past few years, there has been a significant shift in the way that small business owners approach the mental health of their employees. Rather than avoiding the subject altogether, they now realize how integral their staff's well-being is to the overall success of their business. So, what can you do to promote better mental health at your workplace? In this episode, Jon Aidukonis and Gene Marks, along with Shift Collab co-founder, Jordan Axani, discuss how small business owners can implement their own mental health initiatives and help their employees access the resources and treatment they need.

0:28—Today's Topic: How Can Small Business Owners Improve Mental Health in the Workplace?

3:30—Mental health, as it pertains to the work environment, has two facets: mental wellness and mental illness. Mental wellness examines how well we function with the responsibilities of our daily lives. Mental illness is any diagnosable condition that can have significant biological consequences for our brains.

5:32—As a business owner, you have to examine what aspects of your work might be undermining the mental well-being of your employees and then offer the appropriate resources to support them.

9:05—Recognize that individuals of an earlier generation may have different views on how to address mental health and therefore, might be resistant to the shifts occurring in this field. If this is the case, show them how mental health can impact employee productivity.

11:42—One way to promote emotional well-being in your office is to create a time and place for your employees to safely voice their mental health concerns. By fostering this level of transparency, you can ultimately find a solution.

15:09—Business leaders must constantly balance empathy with honesty when they address their employees' mental well-being.

17:20—Your goal is not to become your employees' therapist. You can demonstrate compassion toward your employees while also maintaining professionalism and setting clear boundaries and expectations.

22:21—Workplace mental health initiatives are a two-way street. Your staff must keep themselves informed about all the resources at their disposal so that they can address any issues that might be diminishing their performances.

25:39—To further destigmatize the need for professional help, you should include mental health treatment as a part of your business's benefit package. However, you need to make sure that the mental health professionals who provide these services can effectively treat your employees.

• Shift Collab

The views and opinions expressed on this podcast are for informational purposes only, and solely those of the podcast participants, contributors, and guests, and do not constitute an endorsement by or necessarily represent the views of The Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast, brought to you by The Hartford.

This podcast is brought to you by The Hartford. When the unexpected strikes, The Hartford strikes back for over 1 million small business customers with property, liability, and workers compensation insurance. Check out The Hartford's small business insurance at TheHartford.com.

Jon: Hello everybody, and welcome back to another episode of Small Biz Ahead,

With thousands of businesses vying to receive financial aid during this pandemic, it can be very easy for small business owners to feel like they've gotten lost in the shuffle. However, all that is about to change because the government will be releasing another round of PPP (Paycheck Protection Program) that specifically targets smaller struggling businesses. In this episode, Jon Aidukonis and Gene Marks along with Lendio CEO, Brock Blake, discuss the details of the upcoming PPP as well as several new grants and loans that are exclusively reserved for small business owners.

0:49—Today's Topic: Which Financial Aid Resources Specifically Target Smaller Businesses?

2:11—Under the original PPP, businesses could apply for loans that were two and a half times their monthly payroll. If your business is in a particularly hard hit industry, you could qualify for up to three times your monthly payroll.

2:58—Unlike the earlier rounds of PPP that prioritized larger businesses, this second round will specifically target businesses with less than 300 employees and only offer loans of up to $2 million.

4:54—A significant amount of federal funding has been set aside for small businesses that are located in low to moderate income areas.

6:58—You have to be proactive when it comes to finding the right financing options for your small business's needs.

7:45—The advantage of using the lending marketplace is that you can find the most suitable lenders for your small business, using only one application process.

10:48—According to the provisions of the new PPP, individuals who have an existing loan may be eligible for even more money.

12:59—Marketplace lending serves as another alternative for newer small businesses that don't meet the requirements for PPP.

14:47—If you have an existing section 7a or 504 SBA loan, you can qualify for up to eight months of forgiveness, with a maximum forgiveness of $9,000 per month.

16:26—The government is offering additional incentives to lenders who help assist smaller businesses. These incentives include a guarantee rate of 90% on all SBA loans and a maximum limit of $1 million on SBA express loans.

17:21—Individuals who are involved in the arts can apply to the Shuttered Venue Operator Grant Program, which could provide them with up to $15 million for payroll expenses once they qualify.

19:34—Some of the documents that you will need to provide for your loan application are as follows: photo ID's from all the business owners, payroll documentation, and quarterly financials.

• Lendio
• PPP (Paycheck Protection Program)
• Small Business Administration

The views and opinions expressed on this podcast are for informational purposes only and solely those of the podcast participants, contributors and guests and do not constitute an endorsement by or necessarily represent the views of the Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast, brought to you by the Hartford.

Have you been keeping up with all the changes to the COVID relief bill? If not, your business could be missing out on the opportunity to not only save, but also generate some much needed capital. In this episode, Jon Aidukonis and Gene Marks discuss how small business owners can take advantage of these new loan and tax policies and use the additional revenue for growth.

0:15—Today's Topic: How Can My Small Business Benefit from the Recent Policy Changes in Federal COVID Relief Funding?

3:06—Due to recent changes in the relief bill, business owners who have an existing SBA loan, specifically a section 7(a) or 504 micro loan, can get three months of that loan forgiven. They are eligible for an additional five months of forgiveness if their industry has been hit particularly hard.

4:38—Small business owners who are planning to take out a new loan can qualify for six months of principal and interest forgiveness if their loan is approved by September 30, 2021.

5:20—With such a wide range of generous COVID relief loans, now is an ideal time to really invest and build your small business.

7:49—If your business has experienced a 20% revenue decrease due to COVID, you can qualify for a quarterly 70% tax credit for every employee whose wages were taken up to $10,000.

11:21—Non-profit organizations are also eligible for all these federal loans and tax credits.

11:48—To increase funding, non-profits should let their supporters know that the government is providing an additional tax break for every donation they make.

13:19—As a small business owner, you now have the option of deferring your social security or FICA (Federal Insurance Contributions Act) taxes until March 2021, without any interest or penalty.

15:57—FICA taxes should not be included in your payroll cost calculations when applying to a PPP (Paycheck Protection Program).

17:17—For the next two years, you can deduct 100% of your business meal expenses.

19:12—Businesses can earn a tax credit of up to $9,600 when they hire a veteran or anyone who has experienced long term unemployment.

21:43—Because of the paperwork required for many of these loans, it is a good idea to start assembling all the necessary documents in advance; these can include payroll documentation, tax returns, sales records, invoices and contracts.

25:28—According to a special provision in the original Cares Act, business owners who have incurred any losses in 2020 are allowed to carry back that loss for up to five years, but only once they file this year's income taxes.

• Paycheck Protection Program

The views and opinions expressed on this podcast are for informational purposes only and solely those of the podcast participants, contributors and guests and do not constitute an endorsement by or necessarily represent the views of the Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast brought to you by the Hartford.

This podcast is brought to you by The Hartford. When the unexpected strikes, The Hartford strikes back for over 1 million small business customers with property, liability,

Are you having a difficult time securing a loan for your small business? Then, perhaps it's time to think beyond traditional banks and explore marketplace lending. With marketplace lending, business owners who normally don't qualify for loans can connect with thousands of potential investors simply by applying to an online platform. In this episode, Gene Marks and Lendio CEO, Brock Blake, discuss how small business owners can utilize marketplace lending to find their ideal loan product or program.

0:29—Today's Topic: How Do I Use Marketplace Lending to Finance My Small Business?

1:03—If you are looking for some alternatives to traditional bank financing, there are many online marketplaces that are specifically designed to connect small business owners with a suitable lender or lending company.

4:10—In order to foster a long term relationship, a legitimate lending marketplace will do everything in its power to match you with the right lender.

6:37—Keep in mind that you will need to disclose personal information regarding your credit history and financial situation when you apply to both the lending marketplace and your prospective investors.

7:52—Due to the sheer volume of loan products and programs available on its platform, small business owners are more likely to get approved for a loan through a lending marketplace than at a bank.

9:26—A reputable lending marketplace will never charge a business owner for its services. These platforms typically receive payment from the lender once the loan closes.

10:03—While many banks still require a lot of paperwork to apply for a loan, technological advances in the online lending marketplace have made the entire application process faster and more efficient than ever.

18:11—The restrictions of this pandemic have changed the way that business owners interact with their banks; banks that are unable to evolve with their client base will not be able to stay competitive.

21:13—When researching online lenders, find one that treats its customers well and can effectively price risk. Don't base your decision entirely on interest rates.

24:02—There are three steps every business owner must take before proceeding with a loan: they must educate themselves on the details of the loan; they should have a clear understanding of all their available loan options; and they must perform a ROI (Return On Investment) calculation.

26:44—Despite the economic upheaval caused by the pandemic, loan approval rates are starting to pick up again.

• Lendio

The views and opinions expressed on this podcast are for informational purposes only and solely those of the podcast participants, contributors and guests and do not constitute an endorsement by or necessarily represent the views of the Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast, brought to you by the Hartford.

This podcast is brought to you by The Hartford. When the unexpected strikes, The Hartford strikes back for over 1 million small business customers with property, liability, and workers compensation insurance. Check out The Hartford's small business insurance at TheHartford.com.

As a response to the continuing economic hardships caused by COVID-19, the government has agreed to release a second round of PPP (Paycheck Protection Program) to help aid struggling small businesses. However, that's not all. Thanks to recent updates in the original guidelines, businesses who were previously excluded or could not complete the application process will now have an easier time accessing financial assistance. In this episode, Jon Aidukonis and Gene Marks highlight several important details that small business owners need to be aware of with this upcoming round of PPP.

0:21—Today's Topic: What Should Small Business Owners Know about the Second Round of PPP?

1:39—In order to qualify for this second round of PPP loans, your business must have less than 300 employees; be experiencing a revenue loss of 25%; and use 2.5 times its payroll costs. Your business also cannot be a publicly held company or have more than 20% owned by a Chinese company.

4:01—Under the Shuttered Venue Operator Grant Program, those who produce, promote, operate, or own a live venue could potentially qualify for a grant of up to $10 million. However, this grant cannot be used in conjunction with another PPP loan.

6:05—There is a rolling acceptance for the Shuttered Venue Operator Grant Program that prioritizes small businesses by how much revenue they've lost.

8:38—Any business costs accrued by HR, accounting, supplier or property maintenance expenses are now all considered forgivable according to the new PPP.

12:34—If your loan has already been forgiven, you will not incur a tax assessment or penalty.

13:17—The entire loan application process has been simplified so that more businesses can benefit from the program. However, it's a good idea to keep all your loan-related documents for at least four years.

16:58—You need to go through a member bank, not the SBA (Small Business Administration), to apply for these PPP loans.

17:20—There are certain loans that have been set aside specifically for minority-owned businesses or businesses that are located in low or moderate income areas.

• Paycheck Protection Program
• SBA List of Lenders

The views and opinions expressed on this podcast are for informational purposes only and solely those of the podcast participants, contributors and guests and do not constitute an endorsement by or necessarily represent the views of the Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast brought to you by the Hartford.

This podcast is brought to you by The Hartford. When the unexpected strikes, The Hartford strikes back for over 1 million small business customers with property, liability, and workers compensation insurance. Check out The Hartford's small business insurance at TheHartford.com.

Jon: Good morning and welcome back to Small Biz Ahead, a podcast presented by the Hartford. This is Jon Aidukonis and I am joined today for a special edition with my friend and cohost Gene Marks. We are here to talk about the recent legislation in the economic aid for small businesses in this most recent COVID relief package. A lot of new things,

As we stretch into the eighth month of this global health crisis, more and more small business owners are beginning to question whether they have the necessary skills or resources to offset the devastating effects of this pandemic. With so many new and unexpected challenges, how are they expected to survive? Fortunately for business owners, seeking assistance is easier than ever. In this episode, Jon Aidukonis and Gene Marks along with SBPACE founders, Julie Traxler and Corey Harris, discuss how small business owners can find the professional support they need during COVID-19.

1:26—Today's Topic: Where Do I Find Professional Support for My Business during COVID-19?

3:40—As a small business owner, you should not be afraid to ask for help if you are unsure of something.

4:57—In order to make the most of your business's resources, it is important to be familiar with your finances as well as your expenses.

5:53—Examine your strengths and weaknesses as an entrepreneur to see where you could benefit from professional help.

7:10—Reviews play a pivotal role in promoting your small business so don't hesitate to ask your customers to share their positive feedback and testimonials on social media.

8:49—To ensure that you get the assistance you need with your business, be as specific and deliberate as possible when you ask for help.

10:28—Because so many businesses are struggling right now, it's best to use this time to focus on building professional relationships, even if you have to adjust your fees.

12:21—One way to generate business during these difficult times is to show your clients how your services can actually save them significant money in the long run.

14:49—It is important to reevaluate where your business stands in this pandemic-stricken economy; you may want to consult with your bank to understand how financially viable your current industry is right now.

17:06—Don't forget to take care of yourself and pay attention to your stress thresholds; otherwise you may overwhelm yourself.

• Sbpace.com

The views and opinions expressed on this podcast are for informational purposes only, and solely those of the podcast participants, contributors, and guests, and do not constitute an endorsement by or necessarily represent the views of The Hartford or its affiliates.

You're listening to the Small Biz Ahead podcast, brought to you by The Hartford.

This podcast is brought to you by The Hartford. When the unexpected strikes, The Hartford strikes back for over 1 million small business customers with property, liability, and workers compensation insurance. Check out The Hartford's small business insurance at TheHartford.com.

Gene: Hey everybody, and welcome back to the Small Biz Ahead podcast. This is Gene Marks with Jon Aidukonis. We're both here to have a conversation about what we normally do Jon, which is to talk about small businesses, some of the challenges that they might have, some advice that we might have or even experts that we have as well to help us or our audience deal with all of the different challenges that we're dealing with right now, regarding COVID and economic downturn and all that stuff.

Gene: Our guests today are two people that recently started ...

With countless schools and universities conducting their classes virtually, it was only a matter of time before other fields began embracing the idea of online education. So, what should an independent teacher do to build their own educational business online? In this episode, Jon Aidukonis, Gene Marks, and special guest Dylan Murphy share the strategies that enabled him to successfully launch and market his virtual music academy.

0:37—Today's Topic: How Do I Start an Educational Business Online?

2:36 —Setting up a website allows you to have a place where all your potential clients can obtain information about your small business.

5:04—Because of the nature of your product, it's very easy to provide a tangible demonstration of the services you have to offer using a variety of social media platforms.

7:48—Don't overly concern yourself with integrating every aspect of your business, unless you're generating an overwhelming amount of interest.

9:58—If you're not confident in your web design skills, you can rely on template-based sites or outsource the work to an affordable contractor. The same idea applies to any other creative content you might need.

13:34—In addition to creating your own website, you should also seek out platforms that specifically cater to educators with their own businesses because these can help you generate more customer leads.

14:48—Another marketing strategy for generating leads is offering free classes; however, your free demo lessons should be filmed using professional-caliber equipment.

15:56—Pre-recorded lessons are another option you should provide so that your customers can learn at their own pace.

• MurphCraft Academy
• GoDaddy
• Wix
• Fiverr
• Udemy
• Eloomi
• Skillshare

The views and opinions expressed on this podcast are for informational purposes only, and solely those of the podcast participants, contributors, and guests. And do not constitute an endorsement by or necessarily represent the views of The Hartford or its affiliates.

You're listening to the Small Biz Ahead Podcast, brought to you by The Hartford.

Jon: Good morning everybody, and welcome back to an episode of Small Biz Ahead, the podcast presented by The Hartford. This is Jon Aidunkonis, and I'm joined by my co-host Gene Marks. We have a very special guest today, Dylan Murphy from MurphCraft, and we're going to talk a little bit about what virtual music lessons look like in a post-COVID reality. How's everybody doing today?

Gene: I'm doing good. Dylan, how are you?

Dylan: I'm doing excellent. Thanks.

Gene: I'm glad. What does the MurphCraft do?

Dylan: Well, I guess, it's really just me that runs everything. So I'm a musician, a little background about myself, throughout all of school from age three, four or five around then I've always kind of been focused in on music. So I've always had the idea of opening up a music academy. And growing up with the internet, it's always seemed like a good idea to sort of have an online presence,