Kevin O’Leary’s Advice for Small Businesses

From CNBC, here are some of the best tips from the article:

  • Lower your expectations for what’s going to happen
  • People are scared. That means not all your customers may feel comfortable returning.
  • Don’t put any specific targets in place because you don’t know what it’s going to be like….
  • Obviously, you’re going to have social distancing, and [it] may be very hard to be profitable if you’re expecting people to come to your store somewhere.
  • Keep your overhead low. Try and keep the best employees around you because you’re gonna need them one day.
  • Lower your expectations and stay lean and mean and don’t spend money on stuff you don’t need.
  • This is a time to really practice being thrifty.

And my favorite:

  • People are still out of their [minds] worried about this virus, and they’re going to take a long time to forget about it. So, you have to stay alive for that day.
Last Updated: February, 7th, 2021 at 07:19 pm UTC
Johnathan Lyman

Johnathan Lyman

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