An Entrepreneur’s Guide to Thriving as the World Reopens

May 22, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Covid-19 created a global health and economic earthquake, the aftershocks from which will be felt for years to come. The world (including your market, customers and vendors) is different now than it was before, and it will never be the same again. So, how can you rebuild and grow in this new era? Where there is turmoil, there is opportunity Entrepreneurs will see opportunities all around them: 1) Gaining market share is cheaper and faster in turbulent markets. Old barriers to new customers like habits and loyalties are disrupted. Acquisition costs also plummet. 2) Pivoting is easier (or required) in challenging markets. Difficult times require difficult decisions, but they also remove the inertia that can block much-needed change. 3) Examining expenses is more focused. Shedding underperforming assets, renegotiating restrictive agreements, breaking painful contracts and leases are also […]

Read more

4-Step Entrepreneur’s Guide to Surviving COVID-19

In times of crisis, this simple four-step plan will help you stabilize and recover. Grow Your Business, Not Your Inbox Stay informed and join our daily newsletter now! May 19, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. No business will be able to outwork or outrun the impacts of COVID-19. So what should an entrepreneur do next? Take the time to GASP, an acronym for the terms: Ground, Assess, Stabilize and Plan. This approach worked well for businesses that survived and thrived during the Great Recession of 2007/8 and other major market challenges. Ground Ground yourself, your family and your team. 1) Slow down enough so you can reflect. This is not the time to take a vacation, but you do need to take a deep breath. 2) Resist your entrepreneurial instinct (to immediately work harder) for an hour or a day. You need time to […]

Read more