By Mike Sunnucks | Rose Law Group Reporter
Peter Thomas — who developed the Four Seasons resort in Scottsdale and led Century 21 Real Estate for all of Canada — has some sage advice for entrepreneurs and workers wrestling with the impacts of COVID-19.
“If there is ever a time to have a Plan B it’s now,” said Thomas during a Rose Law Group New Economy (Virtual) Power Lunch yesterday.
Thomas talked about how to navigate the Coronavirus and its economic fallout including the opportunities for innovation and new ways of doing things. That includes stressing Charles Darwin’s quote on the ultimate important of adaptability.
“It is not the strongest of the species that survives, not the most intelligent that survives. It is the one that is the most adaptable to change.” Thomas quoted Darwin during the Power Lunch event.
Thomas is optimistic the economy will recover and rebound after the pandemic’s impact. He said he counted 47 different recessions in modern history.
“My brain tells me we are going to make it through this one. We just don’t know when. I think it’s going to be fairly soon,” said Thomas who has spearheaded billions of real estate deals during his career.
Thomas said opportunities for innovation and new business models can come out all of the turbulence. He pointed to the new social media, technology and sharing economy companies including Uber, Airbnb and Instagram that sprout after the Great Recession. “The future is going to be full of opportunities,” Thomas said.
Thomas said the behavioral and economic changes promoted by the Coronavirus have already displayed growth paths for technology behind remote meetings as well as for business models related to online universities and schools, drone deliveries and artificial intelligence.
Thomas said COVID-19 is forcing all of us to look at new ways, new avenues for careers, business models and personal development.
“We are going to be different coming out the other side,” he said.
Thomas told the Rose Law Group event stressing the need to stay positive and focus on our talents and abilities. “Think more about what you have rather than focusing on what you don’t have,” Thomas said.
