Zoom In on the Community (March Newsletter)

A Note from Our Industry Chairman, John Sarkisian
This is an unprecedented time for our society and for our economy. However, we the business community, have been here before. In the early 90’s it was the Gulf War and the Savings and Loan Crisis. In 2001, the horrific 9/11 attack and still somewhat fresh in our memories the 2008 mortgage/ real estate crash. While each situation was unique, they all brought economic hardship and ultimately revival and growth. Now is a time for leadership and taking action for your business to survive and ultimately thrive.

First, it is time to recognize your most important asset and your largest cost: PEOPLE. Your leadership group will step up to the task and the ask. You as a group have the opportunity to take care of your team. You may have to let some of your team go with the hope you can rehire them in the future. You must right-size your business and maximize the cash you have to survive. On the liability side of your business it is the time to talk to your landlord, your lender, your suppliers and others. They are your partners and will work with you to get through this together. They want you to survive and know you will repay them for their help. Don’t leave any stone unturned to retain and acquire cash. Call a customer and see if they need product. Why not? You may be surprised.

While this is a difficult time it might just be the best time to be in the Health and Wellness/Sports and Active Lifestyle business. Our population understands the importance of health in their ability to fight off this and the next virus should it arrive. Once fear and uncertainty is behind us, they will be spending again with our companies.

Take care of your self. Each and every day be the best athlete you can be. Mindset, Nutrition, Movement, and Recovery is critical for you during this stressful time.

SDSI and our SAL community collectively is here to help you

Zoom In on the Community “Good friends come out on Rainy days.” It started last week when we got the San Diego Pro Sport execs on a Zoom video meeting. We did not discuss the obvious… instead we talked about aligning our sport interests to celebrate San Diego sports the minute it is safe to do so. It was uplifting. This week we have had 2 Zoom calls with over 25 members - both industry and service providers… we got down to basic, actionable strategies about the employment issues, leases and abatement ideas, disaster aid, and crisis loans, to name a few. But mostly, it was an uplifting opportunity to compare notes with people we know and trust. By the way, that's a good definition of “community,” yours and ours. Next week we will continue these membership Zoom meetings. Nick will connect with invites or you can rsvp with him now on this link: (nick@sdsportinnovators.com.) Make it a point to participate. Our goal is to reach every SDSI member. You can “give or get. ” Believe me, both feel good.
-Bob

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