One of the things we have a lot of experience with is turnaround situations in business. A turnaround situation in our books is simply defined as taking a company that is losing money and turning it around to making a profit. Why is this important in the current Coronavirus/COVID-19 world?
To say we live in uncertain times might be an understatement given the recent and ongoing changes to lives worldwide as we all wrestle with the fallout caused by the Coronavirus and COVID-19. As a business owner, it can be twice as difficult as you are dealing not only with your personal situation, but also your business. So how do you plan in uncertain times?
As you can probably appreciate, many folks don’t like to plan under normal circumstances. But when it comes to uncertain times and your business, as the owner you really have no other choice but to pull a plan together. The key is where do you start and how do you do it in a way that you can take action quickly?
We are joined in studio by Elisabeth Sapell of All City Candy who shared her story of jumping from the non-profit world into the business world to start her own company in 2013 after growing up with parents who were business owners. Elisabeth is also a graduate of Goldman Sachs 10,000 Small Business Program (https://www.goldmansachs.com/citizenship/10000-small-businesses/US/) and shared her experience with the program as well!
This week we were joined in studio by Cristina Bertero of Fully Promoted (http://www.fullypromoted.com/cleveland-west-oh) who is an immigrant from Brazil who came to this country several years ago not speaking a word of English. After her kids grew up she decided to launch her business and she shared her great story with us tonight! Cristina is also a graduate of the Goldman Sachs 10,000 Small Business Program and she shared with us some of her key takeaways from that program in our monthly Goldman 10 for 10 segment including how it helped relieve her solitary feeling as a business owner and got so close with folks in her class.