from our partnerFaithwire
written byTré Goins-Phillips
Mark Cuban, an entrepreneur and the owner of the Dallas Mavericks, is predicting a major economic victory in the wake of the coronavirus pandemic.
“I think we are truly going to see the best of capitalism when we come out of the other side,” Cuban said during an appearance on the Fox News Rundown podcast, “because this is where people are going to be entrepreneurial.”
The 61-year-old Shark Tank investor went on to explain there are three things business owners and leaders “can do to really try to turn a huge negative into a positive.”
Cuban said entrepreneurs can use this time as an opportunity to communicate more effectively with their stakeholders, employees, suppliers and customers, likening it to spending more time with family while we’re all quarantined at home.
“Just like it’s a chance for us to talk to our family,” he explained, “this is a chance for you to connect more closely with your stakeholders.”
They can also use this forced slowdown to retool their companies, gearing up for the eventual return to business. Cuban encouraged business owners to “redo their processes” because “now’s the chance to do that.”
The famed investor said it’s important for his fellow entrepreneurs to stay abreast of what kind of offerings the government is handing out to business owners during this pandemic, which has all but totally halted the economy.
“If you’re a CEO or an entrepreneur that owns your own business right now, you need to be up to speed immediately,” Cuban said just hours after the U.S. Senate approved a $2 trillion coronavirus relief bill, $367 billion of which will go to assist small businesses.
“If you keep your employees,” he continued, “if you have fewer than 500 employees and you commit to retain all your employees, the government’s going to pay their salary.”
Cuban then lauded Americans’ entrepreneurial spirits, saying the ongoing pandemic will result in the creation of “amazing companies” and the manufacturing of products “that will really change the world.”
“That’s what makes America different,” he said. “That’s what makes us unique. We truly are a country of entrepreneurs. We have that spirit to go out and start companies, to be creative, to take risks.”
Though the situation is bleak right now, and we have embraced some level of “socialism,” Cuban explained, the situation will not remain that way. He has “complete confidence” the U.S. will rebound.
“I truly believe in American exceptionalism,” he added. “There’s no other country in the world that’s going to be able to figure it out like we can, we’ll use this opportunity, we’ll use the situation.”