WHEN THE GOING GETS TOUGH
When the going gets tough, the tough keep growing.
“Imagination and vision are two of the most powerful assets for any entrepreneur. The ability to see new opportunities where no one else does is a defining trait among fearless innovators. Sometimes this entails inventing something from scratch, and other times it means reviving or discovering a great idea that is hiding in plain sight.”
I like to share quotes that inspire me and remind me of what I should be thinking about and doing every day. For many this COVID-19 crisis appears to be insurmountable as far as growing a business. Remember that just 15 years ago hurricane Katrina devastated the Louisiana and Mississippi coast, causing $81 billion in property damage and approximately another $150 billion of economic impact.
This afternoon we wrapped up the semester at ASU and reviewed how 174 students and faculty teams were able to continue forming new businesses (with a closed University) by going 100% online. 74 of the teams made it to the funding round and thousands of dollars were given to many of them, thus providing an opportunity for them to continue developing their ideas. No one told these entrepreneurs that everything had to come to a standstill until the pandemic ended.
These past few months have accelerated the use of technology in small businesses. No, we do not have to become “tech companies” but we must learn what is available and how to adapt it to fill our needs. I mention this only to remind you that it is not the journey that our products/services take to reach customers that count, but the results that are delivered. We must embrace the technological changes and use them to benefit both ourselves and our target market.
It does not matter what products or service you sell, it can be reinvented to fill the current needs of your customers. Chances are many of your competitors are sitting on the sidelines waiting for something to happen. Your job is to make that something happen and to take advantage of it.
Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack
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