Running a business is similar to sailing. You need to navigate through unfamiliar waters to reach a destination.
There are multiple routes you can take, and each one presents different challenges. After charting your course and stocking your provisions, you set sail. As the winds and currents change, you alter your course to avoid the reefs along the way. Things do not always go according to plan, and you may have to batten down the hatches to weather the occasional storm.
Owning and operating a successful business has never been easy, and it just got much tougher. There are multiple factors most of us never anticipated.
First, COVID-19 created an atmosphere we never expected. Many businesses were forced to shut down temporarily. Millions of people are unemployed and the economy has slowed to a crawl. There are supply issues, and many third-party vendors cannot be counted on to deliver like normal.
At the same time, local protests across the country have turned violent. Countless businesses have been broken into, and in some cases entire inventories have been stolen or burned. Even if their insurance can make them whole eventually, could they ever feel safe running a business in that neighborhood again?
Let’s revisit the sailing analogy. This seems to be the perfect storm. The winds have changed and they are pushing you into shallow, uncharted waters. The tide is low, and darkness is setting in. Running a business in this environment is going to take a lot of skill, and a little bit of luck.
The purpose of this article is to make everyone aware of the treacherous waters business owners are in.
Consumers need to throw them a lifeline and “buy local” every chance they get. That represents the luck they need to survive.
Business owners need to capitalize on every opportunity they get and make really smart decisions.
