Since early March, Grant and a lot of the world have been dealing with a new, very complicated situation. And what’s surprising is that he has maintained his business positivity throughout the entire process. Moreover, he’s actually suggesting businesses can make money and even expand during this troubling time.
Grant Cardon’s Business Advice During The Coronavirus Pandemic
On Taking Yourself Down to Rock Bottom
Grant Cardone talks about the idea of mentally going to a place where your finances are at zero because of the virus. This is, theoretically, rock bottom and, while it’s important to imagine so you can be prepared to get back from zero, there’s another reason, too.
When you allow yourself to live in the idea of having zero, you find the parts of your personality that will help you if that ever happens. It’s actually much harder to be brave when you aren’t admitting there’s anything wrong. If everything seems fine and you never picture what the bottom would look like, you’re doing yourself a disservice. You aren’t allowing yourself to discover your bravery and visualise yourself making things right.
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Get Out There
Now that you’ve taken some time to feel out what a catastrophe would be like for you and your family, it’s time to actualise getting that money back. Stay in touch with your suppliers. Get out there and find new suppliers. Make connections, and find ways to make some money. Cardone makes special mention of one very important tip: don’t be afraid to spend money, right now. If you have access to a loan, use that loan to fund your business operations. If you have cash in your business account, do business with it. That money will dwindle away if you sit and try to save it for a rainy day. COVID-19 is the rainy day.
Don’t spend money you don’t have on things you don’t need. But you owe it to yourself to expand when you can, even in the midst of a global pandemic.
Grant Cardone’s last piece of advice to businesses is also one of his most straightforward. “Eat what you kill”. While this might seem obvious, a lot of businesses are staying open and keeping on employees. They’re ignoring the obvious: fighting the tide most often ends in drowning.
Make the tough calls. Weigh your assets against your liabilities, and ask yourself: “Are the assets I had yesterday the liabilities I have today?”
“You can’t be out of work,” Grant adds. “Even when you’re out of a job, your job is to get a job.” With insight into what is going on (a global recession), what your liabilities are, and what it takes to expand your business, you’ll make the right moves.
More from Grant & Elena Cardone
While many of us saw the Coronavirus as a potential threat, it’s safe to say most of us discounted its impact on literally every aspect of our lives. The world is grinding to a halt, or so it seems, and it’s important to have people like Grant Cardone around to keep our perspectives level.
You can expand your business during COVID-19. You can make money. All you need to do is take it back to zero, and get back to earning when you can.
Don’t forget to check out our interview with Grant’s wife, Elena Cardone.