To open or not to open? The COVID-19 pandemic has been a time of more questions than answers. And now the big question is when the nation can re-open. People across the country disagree on this topic for numerous reasons. Josh Knauer, co-founder and general partner at JumpScale, believes re-opening too early will lead to business failures. His company is an advisory firm that works with impact investors that want multiple returns on their investments. So Knauer weighs the risks and chats with Bold TV. He works with evidence, logic and what’s good for business.
Masks are the common denominator
Things become unpredictable in times like this. But impact investors like to predict the future as much as they can. Some experts say the biggest risk of reopening is customers not wearing masks. Masks seem to be the common denominator for healthy people and healthy businesses. So, for any type of business where you have to be indoors, it’s essential that businesses enforce mask-wearing. The biggest challenge to businesses is lack of consistency. Masks may not be enforced across the board. And it may be left to individuals to act responsibly. But when you have inconsistency, businesses can get hurt.
Reopening is all about timing
A vaccine would obviously change people’s beliefs about reopening. But while the country waits for a vaccine, will we ever know it’s the right time to open up? Experts suggest following the science, logic and overall trends. Hospitalization data is usually made available by county health departments. When occupied hospital bed numbers stay declining for a while, your leaders may allow reopening. But remember that the cost and expense of reopening too early is extreme. There may be a surge in cases. And employees could be afraid to go back to work. It doesn’t make sense to follow one data set. So research the numbers!