As the COVID-19 pandemic continues to affect the global economy, it is time for business owners to consider the effects which the virus may be having on existing contractual promises. Some providers of goods and services may be temporarily or permanently unable to do so due to the coronavirus situation. Previously-made agreements, such as those regarding purchasing, may now be impractical or even impossible to fulfill in these difficult times. Business owners should take steps to ensure that they are informed regarding their own contractual rights and obligations and that they are aware of how each and every one of their existing contractual promises could be affected by COVID-19.
This week President Donald Trump provided an important lesson for anyone gearing up for a business presentation: only present rock solid data. The following blog post is from Tim Calkins’ website, STRONGBRANDS - “helping people use marketing strategy and branding to build strong and profitable businesses”
In my last note, I set the stage with this paragraph: “So,you’ve been working for 30 years to build your business. Now, it is time to liquidate those assets in the business (inventory, equipment and goodwill amongst others) and convert them to cash. And get on that next flight to Naples.”