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The Journals are the premier publications for high-quality, hyperlocal news and advertising in Monmouth County, New Jersey

May 29, 2020

Business Plan to Come Back After the Coronavirus

By Glen J. Dalakian Sr.

Glen Dalakian CSAV Business Matters Colts Neck

No need to remind anyone that we have all been going through a rough patch. Some say these are the toughest times we have ever seen. Things are changing by the hour, and our decisions have got to come fast and furious to keep us afloat. The pressure may be on, but pressure makes diamonds.

We could be like so many who have been sidelined and sit home in fear, watching TV and reminiscing about days gone by. But true entrepreneurs do not have this in them. We must prepare as we take each challenge that comes our way and hang on for the better future ahead.

What do you want from your business? What are you prepared to do to achieve the dreams you had before the current crisis hit? Yes, it was unpredictable. No, it was not our fault. Yes, everyone has been impacted. But America is counting on us, and we must keep our eyes on the prize, not on the price.

If you are stuck or perhaps even shut down, here are a few things you can do to get back in the saddle:

 

1)          Redefine your goals and dreams. Although the timeline may need to be adjusted, your aspirations are more important today than ever. Rewrite them and start with this list.

2)          Assess your assets. What do you have to restart with? Is it just you? Do you have mentors you can consult? What about your team? Who can you pull together to help you get back on track?

3)          Reevaluate your original business plan and shape it to meet the new demand in the market. You may need to reinvent yourself to take advantage of new opportunities.

4)          Find resources. The government has made loans available, and you should take advantage of anything that your business may qualify for.

5)          Stay focused. Don’t let the detractions pull you off course. It has been a tough time, but you can persevere through it.

 

There are people out there who want to work with you and even more people who need to see you back open for business and thriving. A rising tide raises all ships, and society needs all the success stories it can find. This is more important than ever as we come out of the worst business environment of our generation.

We owe it to our team, our families, our community and our country to do everything we can to ensure that we have a viable business on the other side of all this. Many small companies are done already, and we may never see them again, but born out of this mess will be new opportunities! Those who stand strong, support each other and learn while evolving through all this will excel in ways we have not yet imagined.

“The comeback is always stronger thank the setback.”