Businessman Joseph Laforte Advice to Entrepreneurs During Covid

Joseph Laforte is one of the small business industry’s most distinguished and

accomplished leaders. Joseph has led Par Funding to unprecedented growth while contributing to the economic development of hundreds of business.

Congratulations friends,we made it through the first third of 2020! It’s been a strange year for the planet, but here we are at the start of May. This short post, like the soft breeze coming through my open windows right now, is well worth noting.

During times of uncertainty, fear and panic run rampant. Most entrepreneurs are wondering if their businesses are going to survive through all of this. Some are even wondering if the coronavirus might help their businesses.

Being in a position that I work with hundreds of small business owners
in the real estate, technology, transportation, hospitality and health
care industries throughout the US, I have seen how major disruptions to the global cause havoc on business's no matter the size, background or reputation.

Most entrepreneurs know there is no “easy way out” of the worldwide pandemic when it comes to the coronavirus, we can all agree that nobody was able to foresee or have a robust risk management plan for these events. Being part of a firm that believes in entrepreneurship and invests in small business, I have personally helped many businesses expand their visions and grow into larger, more successful firms. I have seen how major economic disruptions have a tangible effect on businesses and leaders.

So, now that we are in the middle of this unprecedented event, what can businesses do to keep on handling things so that they can move forward?

Moving Forward

There are two key things that business owners should focus on when moving forward during these trying times:

• Put a plan in place for the immediate short and long term
• Communicate and be vocal

Putting a Plan in Place

Many entrepreneurs have a lot of down-time right now. I know it’s tough and it can drive you crazy when you are used to being busy all day long. However, there are some things you can do to utilize that downtime and create a plan that might help you develop new concepts for your company.

• Focus on Deep Learning

Why not use your downtime to gain some knowledge of your vocation? Read some books that apply to your industry and allow yourself extra thinking and creativity time to absorb and process what you have learnt. That way, you can start following up on some of the opportunities you didn’t have time to pursue before. Start mind mapping out your radical strategies and get deep into the knowledge of subjects with which you want to know more.

• Create, Create, Create

Did you know that during London’s 1664 Bubonic plague (which took out twenty-five million people in the world) gave Isaac Newton the time to discover the law of gravity? While Isaac Newton was in quarantine, he used his free time to create, think, and experiment. Now that you have some downtime to focus on your business think about what you might be capable of creating if you just allowed yourself to explore your curiosities.

• Get Ready for the Great Rush

As soon as the world doesn’t have to remain isolated, however many months that might be, everybody is going to experience cabin fever. Whenever that occurs, there’s always a rush in almost every industry.

Soon, people will be counting down the seconds until they can leave the house and explore again. That means they’ll also want to explore and spend plenty of money. So, the world will suddenly become awake again, and it’ll be a beautiful moment. So, you’ll need to prepare your business for that rush, depending on what your industry is. Consider:

• Stay Courageous

It sounds depressing to compare what’s happening now to the Great Depression, but that’s what’s happening. Some people cringe at how millionaires, like Amazon founder Jeff Bezos, are capitalizing in the billions from the pandemic. However, keep in mind that during the Great Depression, there were more millionaires during that time than any other point in history. The world has always worked this way.

Back during the Great Recession, which was a little over a decade ago, many people lost a lot. However, still, others experienced excellent moments of growth. The companies that survived the Great Recession expanded and stayed bold as well as confident. So, don’t give in to your fears. You’ll be surprised what you might accomplish when fear isn’t controlling you anymore.

Communicate and Be Vocal

You also need to make sure you communicate and stay vocal. How can you do that? We’ll give you some pointers below.

• Stay Connected

Most likely, you are already talking to your family and friends often while we make our way through this pandemic. However, you should also keep communicating with your professional contacts and clients. Especially those you didn’t have the time to talk with personally in the past month. There may be more opportunities for new growth and ideas. Remember, now is a great time to try new things.

• Be a Hero While You Stay Connected

Being a successful entrepreneur means you're a leader and you need to lead by example. Make yourself the proper example of care and concern.

Remember, our society is like the connected roots of trees. Those connected roots of trees communicate when a particular tree is in pain and needs more nutrients. The human race is also all one in this pandemic, and we can all be victims of the same monster. However, we also can heal our society by using love and commitment. We are experiencing the most clearly defined instance of this occurrence in our lives right now.

Joseph LaForte is the sales leader at Par Funding, a small business financial solutions provider servicing business owners across the US. Joseph laforte is committed to leveraging opportunities for small business owners to help them grow and prosper by delivering solutions that lead to improved operations and processes help alleviate cash flow issues on an as needed basis. Joseph laforte’s motto is “helping business owners achieve financial success is well within our reach.” With Joseph laforte's over a decade of of complex finance experience and a proven track record of closing opportunities that traditional lenders and banks will not service

In his spare time, Joe laforte is dedicated to helping others. He is involved with a number of local charities, churches and business guidance organizations that have a special place in his heart, dedicating his entrepreneurial and leadership skills helping improve the lives of members of the community. He also serves as a mentor and advisor to local business owners and helps kids in the inner city start businesses of their own.