Kevin O'Leary's advice for small business owners as the economy reopens: 'Practice being thrifty.' (via CNBCMakeIt)
To those points, Kevin O'Leary, a CNBC contributor and an investor on ABC's "Shark Tank," has some advice for small business owners.First of all, "people are scared," says O'Leary. That means not all your customers may feel comfortable returning.by predictive analytics company First Insight conducted on April 20, only 43% of Americans surveyed feel comfortable returning to local small businesses.
So, says O'Leary, "don't put any specific targets in place because you don't know what it's going to be like.... Obviously, you're going to have social distancing, and [it] may be very hard to be profitable if you're expecting people to come to your store somewhere.""People are still out of their mind worried about this virus, and they're going to take a long time to forget about it," he says. "So, you have to stay alive for that day.
All in all, O'Leary believes "America will spring back so fast when people feel safe again. It'll be great. Baby steps," he says.The best credit cards of 2020 could earn you over $1,000 in 5 years
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