COVID-19 greatly affected businesses across the globe with most businesses being forced to go under. Real estate entrepreneur and investor Michael Patrick Carroll recently gave his thoughts on how businesses can survive financially during an economic stalemate. The founder of CARROLL, a real estate firm based in Tampa, provides insight into new profitable ideas that businesses can take up to keep up with challenging economic trends.
According to M. Patrick Carroll, the pandemic brought challenges as well as opportunities. An opportunity for businesses to evolve and explore new opportunities. Patrick believes that in the new normal there is bound to be a shift in how people do business. One trend that is already in play is virtual work, where employees are performing their duties from remote locations.
- Patrick Carroll suggests that for businesses to facilitate a complete transfer they have to adopt the necessary technology. This way businesses can integrate the professional and personal life of employees. Patrick is leading by example as clearly seen by the recent changes in his Tampa, based real estate firm.
The changes witnessed in the economy have greatly changed how practically every industry operates with other sectors adopting permanent solutions. Michael Patrick Carroll suggests that industries such as retail and hospitality industries are among those that are bound to face radical changes in the days to come.
Patrick views this period as a wake-up call for people in various career paths to evaluate their choices see the impact, both negative and positive during the recent pandemic. It is Mr. Carroll’s thought that people should concentrate their efforts on opportunities focused on solving some of the emerging needs.
Having built his company from the ground up, Patrick has witnessed various ups and downs over the years, experiences that have shaped his current opinion. He has weathered the real estate industry recession, and taught himself how to change with the prevailing conditions to continue growing.
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