March 27, 2020

Unprecedented. As I enter my 71st year on our good Earth, unprecedented. How a virus can stop life as we know it; Unprecedented. Yep, we all know that. We know where we are at this moment. In the next moment, things will change. Change is our new norm, for the foreseeable future. This perpetual, constant change will hurt some of us more than others. To those that are more damaged than others and require help: ASK. Family, Friends, Colleagues, Business Associates are here to help as best they can. You are not alone.

There are some things we can all do to be helpful/useful.

1. Follow the guidance being provided by the medical/scientific community.
2. Look out for one another and help when you can.
3. Be as generous, positive, caring, civil as possible.

Sometime, the pandemic will subside, commerce will re-engage, employment will commence, we will mourn our losses and celebrate our survival. Change will continue, perhaps at a slower pace.

Until then, for those of you with whom I have a “business relationship”, here are some thoughts for your consideration:

1. Decide how you are going to save your business
2. Decide if you are in a position to help your employees in these times:
          a. How?
          b. For how long?
3. Engage with your professional advisors:
          a. Accountants – Cost Cutting
          b. Lawyers – Legal Obligations/Legal Opportunities
          c. Bankers – Lines of Credit/Refinance Existing Debt
4. Engage with your vendors:
          a. Ask for accommodation
          b. Be fair with them
          c. Remember, we are still in business, we’ll need each other again
5. Communicate, Communicate, Communicate:
          a. Guests
          b. Employees
          c. Local Government
          d. Suppliers

Mirus Resort Advisors is available to listen, counsel, share thoughts on who might be out there to help solve problems and situations that (possibly) arise as a result of the current pandemic/economic fallout.
Give a call, even if it is just to vent. For those of you who plan or planned on selling your life’s work: give a call and we can discuss the pros and cons of selling at this time and what needs to be done, no matter when a sale process is undertaken, to effect a sale of your enterprise.

I wish you good health, clear thoughts, and the ability to look forward to a re-emergence of a positive normalcy.

My good wishes

Michael J. Krongel