This week I visited Barns and Noble and The Olive Garden for the first time since the lockdown. It felt good to have lunch with friends and then visit one of the few bookstore chains left in the country. Unfortunately, while restaurants and other businesses continue to reopen, occupancy limits and other constraints essentially guarantee that they will be operating at a loss. Low in-store traffic is far too common to suggest a strong, early recovery.
The economy will not regain strength until businesses generate sustainable profits. I developed a framework to help businesses reopen and return to profitability. It's no easy task. I often wonder if politicians who quibble over 'safely reopening the economy' understand the challenges facing business leaders and their organizations.
It's going to be a tough road ahead for many businesses, their owners, employees, and families. Large enterprises will not be immune from mounting losses. Many will struggle to make it to Christmas and only those with strong holiday sales will survive into the new year. There's lots of hard work and many heartbreaks ahead. Hopefully, we'll also have plenty to celebrate.