Mar 31, 2020
Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy Podcast talks about how to leverage the current COVID-19 environment to benefit your business. Jason discusses our current economy, which businesses will survive and which will be weeded out and how best to alleviate cash flow challenges.
Episode Highlights:
- Coronavirus infection numbers probably have skyrocketed due to increased testing.
- The stock market doesn’t accurately portray the market and is driven by emotions.
- A recession is when the GDP drops for more than two quarters. In a bear market, the market is down 20%.
- Some of the strongest companies have launched during recessions and depressions.
- Determine a business angle and take advantage of this time to better educate yourself.
- As a whole, the healthcare industry is quite safe so it’s a great time to start a healthcare business.
- Manage cash flow through accounts payable, accounts receivable and inventory.
- If someone owes your business money, pursue it through negotiation to improve your company’s cash flow.
- The government has the ability to do ‘quantitative easing,’ which is buying back bonds to print more money.
- Look for business grants and small business loans to reduce your outflow of cash.
- Offload inventory with discounts and sales to get lean.
- Start networking to see who you can acquire as new staff and new customers.
- Find struggling businesses and help them in exchange for equity.
- Ketamine Academy and IV Therapy Academy are offering courses at 50% discount (see links below).
3 Key Points:
- The stock market is just a measure of perception, public sentiment, fear, and greed.
- Cash is found in three main areas for businesses: accounts receivable accounts payable and in inventory.
- If you own taxes for your business, take advantage of the July extension to file and pay.
Tweetable Quotes:
- “Are we in a recession? No, because this hasn’t been going on for longer than two quarters. But, we definitely are in a bear market because the market has dropped more than 20%.” – Jason A. Duprat
- “When there are crazy times like this when people are panicking, this is the time when the wealthiest people in America take advantage - or the future wealthiest people I should say.” – Jason A. Duprat
- “As this continues to get longer and longer, and as a business owner, focus on your cash flow. Businesses don’t go under, typically, for any other reason than they just don’t have enough cash.” – Jason A. Duprat
Resources Mentioned:
- Jason’s Website: JasonDuprat.com
-
- Jason’s Socials:
-
- LinkedIn: https://www.linkedin.com/in/jasonduprat
- Facebook: https://www.facebook.com/jasonaduprat
- Healthcare Entrepreneur Academy Facebook Group: https://www.jasonduprat.com/group
- Ketamine Academy Website: ketamineacademy.com
- Ketamine Academy Free Training Presentation: ketamineacademy.com/presentation
- Ketamine Academy Course at 50% discount: ketamineprofessionals.com/virus
- IV Therapy Academy Nutritional Therapy Course at 50% discount (Code: VIRUS): ivtherapyacademy.com
#HealthcareEntrepreneurAcademy #HealthcareBoss #healthcare #entrepreneur #entrepreneurship #recession #bearmarket #cashflow #COVID19 #coronavirus #ketamineacademy #ivtherapyacademy