Mark Cuban: How to avoid layoffs and other advice for small business owners during the COVID-19 pandemic
This weekend, billionaire entrepreneur Mark Cuban took to LinkedIn to answer questions from small business owners about what to do during the escalating coronavirus outbreak.
Cuban, who has been vocal about the importance of supporting small businesses during this time, prioritized questions about how to avoid layoffs and hourly reductions. His post had over 6,000 comments by Monday, with many of his followers popping in with their own advice.
Experiment with new ideas
“If you can find other services to offer, do it,” Cuban wrote in response to a question specifically about avoiding layoffs in the event industry, as trade shows, sporting events and concerts are being canceled. “Since you have holes in your schedule, it’s a great time to experiment with new lines of business and see what sticks.”
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