Stop Worrying and Start Thriving Through the Coronavirus
Being upset and depressed and angry isn’t going to help you out right now. The coronavirus has impacted a lot of people, but the only way to solve the problem in front of you is to get your mindset right. When you’re calm and motivated, you can really evaluate where you are, get your plan in place, and start moving forward.
Make hard decisions
The first thing you need to do is look in the mirror and be honest with yourself. Where do you see your business going in the next 6 months? Be logical. What is the worst-case scenario and do you think your business is going to make it?
What do you need to do to get through this? Do you need to sell something off? Do you need to bring in a new partner?
Be honest and make those tough decisions fast.
Write out your plan
You have to write everything down, and create a plan with detailed notes of every single step. Your plan is what’s going to create your success.
If you don’t have a plan, you’re a ship in the middle of the harbor that’s not going anywhere! Make your plan right now. Plan what you’re going to do today, tomorrow, and 6 months from now.
A lot of entrepreneurs tend to be reactive instead of proactive. You don’t want to wait to see what happens. You want to act now.
Communicate
Reach out to your banks, your loan officers, your private lenders. Ask them where they are first, and tell them what your plan is, how you plan to work through this. People don’t like to be held in the dark. Just communicate.
If you need help, you need to ask. People might be willing to work with you through this, but you don’t know if you don’t ask.
Start preparing for 6 months from now
Right now, get yourself secure, but start thinking about 6 months from now. Start talking to people that you might want to partner with, potential investors. We’re in a crisis right now, but in 6 months, there’s going to be a lot of opportunity, and a lot to buy on discount.
Get your investors in line now and start preparing. This is why your plan is so important. You can’t take advantage of all the opportunities there’s going to be, if you’re not getting set up for it now.
You don’t get on an airplane without a flight plan! You don’t thrive in a crisis without one either!
You might need to pull back for now, but in 6 months, we’re going to springboard forward. Stay calm, stay focused, stick to your plan, and get motivated to move forward, because this crisis is only temporary.
Steve Lloyd is a serial entrepreneur, real estate investor, and Founder of Stone Bay Holdings, owning over $100 million worth of real estate. He is a master of passive income, and is passionate about helping you live your best life!
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