'How to Protect Your Business in Times of Crisis' by scottdclary business tech
The past few years have seen us through perhaps some of the worst times for business owners. If you've been victim to the economic recession and drop in demand caused by COVID-19, know that the struggles you've faced are not a result of your poor planning or faulty decision-making.The reason I bring this up is that in today's Success Story recap, we're going to touch on the themes of running a business mid-crisis.
This was the focus of much of his career, and to this day, Guzzo is still developing his cinema chain by introducing new locations and entertainment experiences. Rather than dwelling on the closure of his new cinema and the financial losses it entailed, Guzzo adapted. He looked at the new market conditions and found ways to work within them.
For example, Vincenzo's balanced reflections on the state of his business likely saved him from throwing in the towel on his cinema venture. Now, this isn't to say that keeping your chin up and being the optimist will always save your business. What you need to do is look at your specific situation and make an informed decision without resorting to hysterics or giving up before the race has begun.
“All of a sudden, the movie theater wasn't taking 24 hours of our time, so we took a chance on buying real estate that was retail based and entertainment based,” he said. And, what do you know – this simple pivot did the trick. With the extra publicity, Moriarty’s Gem Art began making thousands of dollars in sales. One show even fetched a whopping $20,000 sale in the thick of the pandemic.
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