One of my favorite motivational speeches took place at the Delta House in the 1960s. Bottom line: When the going gets tough, the tough get going. You may not think that you have the time to watch this video, but you will be glad you did.
During the beginning of the speech, Bluto (Belushi) rallies a defeated audience into a frenzy. He changed their mindset, but as you will see he only had to change the mindset of one man, Boon.
Closer to home, I was talking with Eva Hill who is in the predevelopment stage of the Canopy By Hilton Hotel at 8th and L Street in Sacramento. Eva is a testament to Mindset. The hospitality industry has been impacted more than most, but here is what Eva had to say:
“The hotel project in Sacramento is going well. I do not know what the world will look like after this Pandemic but I have faith that this project will benefit from lower interest rates and hopefully lower construction costs. We believe we have the best location in town because we believe people will not quit coming to our State Capitol to transact business and to ask for money.”
When the going gets tough, the tough shift their mindset.
There are many developments that were pretty far along in the planning process (from escrows to pulling permits.) P2020 essentially has put many of these projects on hold for probably 6 months and for some, indefinitely. Fortunately, for the most part, landlords and tenants — buyers and sellers are trying to work together. The Lenders have been so busy dealing with the short-term stimulus loans that they have not yet been able to address the next shoe to drop. How the lenders respond to the next phase will determine the course for many of us.
The second I start feeling sorry for myself I have to remind myself that I actually have it pretty good. I have clients and friends who have had to lay off many employees. Decades of commitment in their business undercut in a matter of weeks. In some cases, there are few -if any – options going forward. Perhaps 6 months from now there will be light at the end of the tunnel, but for many businesses, a month is too long.
I have spoken with a lot of people in different places and I have noticed that there is an elevated level of compassion out there. Sure, this whole thing sucks, but in many ways, it is bringing out the best in people. I have also seen resilience, innovation, and diversification – Which in the long run will make the world a better place. We just need to make it there.
I think Tiger Woods sums it up best here:
“You’ve got to stay patient, stay in the moment, keep grinding… you never know what can happen. And it turned out well.”