With the current times that we live in, one needs to adapt to thrive. And according to Michael Patrick Carroll, the CEO of CARROLL, a successful real-estate franchise, says that we should learn to embrace these uncertain times and find ways to thrive despite them.
Tips to thriving in an Economic Recession
By adhering to the following tips, you can survive an economic recession:
1 Adapting to the Diverse Environment
Michael Patrick Carroll Tampa gives an example of the current work climate and the changes it is currently experiencing. He says that most employees are only connecting virtually and slowly embracing the fact that they may have to work remotely.
M Patrick Carroll, therefore, goes on to add how this presents both a challenge and an opportunity to the employers and the companies. He says that companies will need to look for technologies that will support their vast workforce.
2 Swiftly leveraging of opportunities
- Patrick Carroll still believes that the current circumstances still present a chance for several opportunities. The Tampa native gives a vivid explanation by describing the hotel and retail industry.
- Patrick Carroll gives an example of the steady decline in the number of people in hotels and shopping malls and challenges everyone to see this as an opportunity and come up with a lasting solution.
The Tampa native also adds that, on the other hand, the medical industry is on the rise, and soon there will be a demand for apps and services. That will make it easier for people to monitor their health and urges entrepreneurs to look at ways of taking advantage of this opportunity.
3 Be keen
He also advised employees to take a keen look at the companies they are currently working at and note their response to the pandemic.
4 Hiring The right Workforce
- Patrick Carroll gave an example of himself and said that he always hires employees who align with his vision and drive to fully rely on them to utilize the opportunities he sees; together.
Michael Patrick Carroll advises that businesses should look at economic recessions with hope and optimism to seize the opportunities that may lead to their growth.
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