47: Coronavirus: Business Strategies to Adapt, Dangers to Heed, and Opportunities to Watch for With Andrew Sherman

COVID-19 has presented challenges for all of us—not the least of whom are those who own a business or are in the process of starting, growing, or scaling a business.

In order to provide as much support and insight to our listeners as possible, we recorded this episode yesterday with Andrew Sherman, a prominent Washington, D.C. attorney, business school professor, and author of 26 books on every aspect of business.

Andrew shares his thoughts on where the economy goes next (will this economic event be "V-shaped" or "U-shaped"?), what business owners can do TODAY to best navigate the crises, and the crucial importance of risk management and emergency preparedness.

Don't own a business quite yet? There's still value here: Andrew outlines questions to think through if you plan to start a new venture this year AND shares what he believes to be the opportunities that are likely to arise over the next several months and years.

We hope you enjoy this episode of the BiggerPockets Business Podcast. If you do, we encourage you to share it with a friend or family member. Stay safe, and we'll see you next week.

In This Episode We Cover:

• Where the economy might head next
• Potential government interventions
• How Andrew's clients are grappling with cash flow problems
• Creative solutions in times of low customer demand
• Where to turn for financing during an economic downturn
• Which companies and industries have the most cash to deploy today
• Creating an emergency fund to prepare for "black swan" events
• Why this event is likely to create many entrepreneurs
• And SO much more!

Links from the Show

• BiggerPockets
• ‘Widespread panic is setting in among small business owners nationwide,’ banking expert cautions (CNBC)
• Zoom.us
• Andrew's Amazon Page

Check the full show notes here: http://biggerpockets.com/bizshow47

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