Best Time for Business Opportunities
Thinking today about how I can bring hope and inspire anyone reading this… I’m torn because I don’t want to sugarcoat the reality, but I also feel like this reset is probably the greatest thing for business in our lifetime!
You might ask, “What are you talking about?”
Well, through my eyes, at least for the short term of things…what I am seeing is that this could be the best opportunity for a business because our competitors have went in to hiding and we can use this time to capitalize on their absence. So, as a business owner, look at operating with strength and not fear and take advantage of this time.
If you are struggling, have hope. Wikipedia defines hope as an “optimistic attitude of mind based on an expectation of positive outcomes related to circumstances or events in one’s life or the world at large.”
This isn’t 2008 my friends, this isn’t our fault. Let’s look at the positive in this message not the negative. Here are a few positives to consider and apply in your business today.
SBA… who would have thought? If you stay open for business, the SBA can possibly assist in a loan for debt service and payroll operating that can be forgiven. If you have separate entities you can technically apply for each SBA loan, separately. For example, if Jon owns ten hotels with different LLC’s, he can apply for ten SBA loans.
So to take advantage of the SBA, keeping people employed is the moral of this story. It won’t be easy as you’ll still have to go through the application process but remember that Blue Sky Business Resources is here to accommodate you.
Another way to get through this time, is to work with your lender. In the conversations that I have had, most lenders are looking at payment deferral for the next 3-6 months and will either back end and extend the loan or float it through the entire life of the loan.
I believe this combination of the SBA and lender cooperation will help get through this time and shore you up for massive growth when the turn occurs.
This is the cheapest money we will see in our lifetime.
Look into how you can take advantage of this. If you are expanding your existing business, buying real estate or equipment, rates are at levels that you should be locking in for the long term. Navigating this can feel overwhelming but at Blue Sky, our team works every day to bring the best opportunities for our clients and partners in situations just like this. We are here, and we mean business. Walking through these waters with our seasoned team members allows us to have confidence in providing service in all categories business related!
Keep the course and don’t give up. No matter where you are right now, this too will pass and opportunities will show up, so pay attention.
What I expect is that the tide will turn the other way in 3-6 months and we will see a boom reoccur. All the indicators tell me suppression will end so get ready. That’s why it is so important to lock in rates now and get your business in order and ready. With this, we could see rates jump and hyperinflation kick-in, and don’t forget the history lesson that we are in now.
If no one has said “thank you” during this time, you heard it here: Thank you for moving forward with us!
“Life can only be understood backwards, but it must be lived forwards.”
— Soren Kirkegaard