21 Point Executive Summary From Zoom Chat on Economic Forecasts
Here is the recording of yesterday’s Paparelli Zoom Chat. (See video above. Audio here.) I presented the current international investment banks’ economic forecasts. We then discussed the decisions our participants are making right now.
The Paparelli Zoom Chat is a forum for entrepreneurs to discuss their issues and challenges and to share their views and decisions.
Executive Summary
We had market-tested entrepreneurs on this call. Here are some of their comments:
Charlie Paparelli – Q2 is going to be bad, better after that.
Ben Dyer – Customers vanishing, some startup clients out of money, some killing it (nurse staffing), we may be faced with civil disorder.
Richard Brock – Shifting sales strategy to follow distribution partners’ needs.
Frank Tighe – Looking for positives @ATDC, various companies doing different things. Some are winning, and others are losing. Cash is king.
David Nour – Talked to 38 corporate execs in last two weeks, worried about their families, cannot get real-time data, not sure what to do next, unclear on the supply chain, many speaking engagements delayed, some canceled. Most execs are looking to plan for the recovery.
Phil Roller – Companies wanting to cut, but employees want to get back to work (Charlie will be publishing a blog on preserving your team in today’s environment).
Charlie Paparelli – Cut everyone’s pay now and get employees to work for reduced pay or not take a paycheck.
Shawn Ryan – What is the new world going to be after the crisis?
Nick Paparelli – Deals are getting postponed.
Dave Davis – Special offers got some new business and keep in front of customers but pretty slow right now.
Daniel Homrich – Repositioning product line to match customer’s needs today.
Richard Brock – Criteria of the buyers are changing. Change the entire pitch to match the needs of the buyers.
Charlie Paparelli – Ask the customer, “What are you buying now?” This is changing every 24 hours.
David Nour – Make the buyer a hero.
Kurt Uhlir – Big deals in play and still closing, especially partnerships, some deals are being paused, acknowledge upfront that the situation is bad, and empathize with the customer.
Jeff Myer – Pivot toward the customer’s current needs.
Jeff Dimock – Trying to figure out the world, real estate closings, borrowers backing out, deals not happening, what will happen to real estate values. No conclusion here.
Ben Dyer – People will want to get back to the office.
Kurt Uhlir – What will happen with the housing market going forward?
Shawn Holtzclaw – Sees positive indicators in Apple, President Trump, South Africa, India, UK.
Charlie Paparelli – We are in a 24-hour news and emotion cycle. Waiting to see what the U.S. Government bill will end up doing to help the situation. Continue to be hopeful leaders. We will reconvene next Wednesday.
See you on Wednesday, April 1, at 9 am EST.
Thanks to Jim Grady, Hello Package, for his summary.