The Sweaty Startup

If you're looking to open a restaurant, or you just lost everything in your restaurant, it could be the best time in HISTORY to start up your business in the next 6 months.  With so many restaurants either closing or cutting staff, there are talented workers, real estate, land lords, and cheap equipment that are all available. •Land lords want to get paid, meaning cheaper rent for you. • People are hurrying to sell buildings and prices for real estate will be lower than ever.  • New restaurant equipment will be cheaper, and used equipment will be sold as other businesses close their doors • Hundreds of talented chefs, waiters, bar tenders, you name it, will be applying for new jobs after being laid off.  With the government helping relieve the economy and businesses and programs like the PPP, you can get more help now than ever before. We're going to see resources for restaurants and small businesses trying to get their feet planted, and we could see low interest loans, subsidized loans, and maybe even grant money to help companies get back to business.  I don't like the restaurant business, and I wouldn't recommend you start one, but now is the time to do it if you want to get back into it or start your dream!   

On this episode I discuss what I see as the future of hotels and hospitality and a big opportunity for savvy entrepreneurs. 

Lawn care hasn't seen much impact from COVID and is a lot more recession resistant than you might think.

10,000 American's reach retirement age every day. Many of them own businesses. It was a buyers market before COVID and its only getting better. Referenced in the episode Nick Bradley: https://www.youtube.com/watch?v=fqxXoduxf7Y

Businesses that are going to get crushed right now but will be a huge opportunity to start a year from now!

I’m an entrepreneur because I enjoy having extreme control over my circumstances, my business, my lifestyle, and my bank account. The decisions I make today directly impact the situation I’m in tomorrow and next week and 5 years from now. The past month has completely turned that upside down.a

Ray Dalio, in his book Principles, talks about the search for truth over the desire to be right and convince other people of your way of thinking. Things are changing fast. The close-minded folks are getting left in the dust. The radically open-minded entrepreneurs will win. Remind yourself that three things are at play when you’re making decisions: 1. You filter information based on what supports your previously held beliefs and desires 2. You actually understand things a lot less than you think you do (the can opener effect) 3. Your emotions (fear, anger, greed) impact your logic in a negative way Change your mind often. Accept all new information based on what it’s worth. Understand your blindspots. Keep a bead on your emotions. The last 10 year run has made it easy to succeed. A rising tide floats all ships. This hardship will separate the winners from the losers. Stay strong!

Change spells opportunity.

Debt is what makes the world go round.

Tough balancing act right now between keeping people liquid and motivating the wrong behavior.