EDITORS’ NOTE Paul Goodman, MBA, PFCI, and Derrick Myers, CPA, CFP, PFCI, love a good financial management challenge, however big or small. Send your questions to fmeditor@safnow.org, and we’ll challenge the experts to tackle them in an upcoming article.


The pandemic has


created a new economy — and increased the need to keep costs under control.


BY PAUL GOODMAN, MBA, PFCI 34


LEAN MEAN M


STAYING


arch 2020 will live in our memories as the time life in general and business in particular changed dramatically. With the scare of a new virus to which nobody had immunity, and no one knew exactly how severe it was going to be, the federal government and the states imposed various rules of “shelter in place.” In most states this closed all nonessential businesses.


If you look at the list of who was impacted, it is by and large a list of retail


establishments and entertainment/large-gathering venues. Florists fit right into that category. Fortunately for florists in many states, delivery and touchless curbside pickup were allowed. Just no one in the store. Of course, business plummeted. Many, if not most, employees were laid off with the owners and one or two others remaining to keep things going.


FLORAL MANAGEMENT | June 2020 | WWW.SAFNOW.ORG


AND SHUTTERSTOCK/ VLADGRIN


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