The coronavirus pandemic represents an unprecedented economic challenge for the United States and the entire world. No one knows for sure, as yet, what it will take to overcome that challenge, but CNBC reports that billionaire Mark Cuban recently took to his official LinkedIn account to share some of his thoughts on the subject – particularly with regard to people who own small businesses throughout the country.
Cuban kicked things off by inviting who owns a small business to ask him questions through LinkedIn about what to do in the face of the pandemic and the attendant disruption of much of the business being done in the US. His main goal in giving advice, the post says, would be "helping small biz trying to avoid layoffs and hourly reductions."
One question Cuban received came from the owner of an event planning business – one that will obviously see some slowdown in an environment in which it's not safe for even small groups to congregate without risking the accidental spread of COVID-19. Cuban said that slowdown can be "a great time to experiment with new lines of business and see what sticks."
Cuban also said such a slowdown can represent another kind of opportunity:
"Rather than focusing on how bad it is, focus on how you can use this time to connect with your future customers…This is also a good time to clean up all the little messes every small business has. Everyone has things they wish they could re-do…Now is the time to make those changes."
Some of Cuban's advice might be different now that the seriousness of this situation has become even clearer, but hopefully it helped a few small business owners out in these difficult times.
And as a business owner himself, Cuban has also stepped up to take care of workers at the Dallas Maverick's hometown American Airlines Center as they'll be indefinitely out of work thanks to the suspension of NBA games in an attempt to mitigate the spread of the virus.