Marine Fabricator July/August 2020 - 34

ShopTalk Interior

Your business can
survive this pandemic
By Terri Madden

W
"The courage to
forge ahead in the
aftermath of COVID-19
requires perseverance,
resilience, tenacity
and resourcefulness-
all things marine
fabricators are
known for."

The COVID-19 pandemic offers
opportunities and challenges. Hood
Canvas LLC (above) and Signature
CanvasMakers (right) are providing PPE
to meet community needs and provide
income to employees.
34 Marine Fabricator | July/Aug 2020

hen I moved to San Juan,
Puerto Rico, and registered
my business 23 years ago,
I had only $2,000 in my pocket. It
bought me the key to the door of an
800-square-foot space with a few
worn-out tools and tables. I paid the
lawyer who drew up the paperwork in
the form of fresh tuna from the dock.
Since then I have weathered hurricanes,
earthquakes, a 15-year recession and
a bankrupt government. My shop has
grown into an awesome 3,200-squarefoot space and our services have
expanded thanks to customer requests
as well as upgrading our equipment,
improving our skills and networking
with fabricators around the world.
Even during a pandemic, sun,
wind and rain take their toll on every
imaginable material. Like everyone,
we were unprepared for COVID-19,
but we have realigned, counted

our blessings and adjusted our
expectations. Every crisis our shop
has encountered has created new
markets and opportunities. When
I look back, I see that each setback
strengthened our business and opened
new profit lines we were "too busy" to
consider before.
So, here's my hard-won advice about
how you and your shop can successfully
navigate these currently stormy seas.
Reevaluate budget
items and expenses
Make a new short-term,
mid-term and long-term budget:
Consider what you planned to do
in 2020 versus what has changed
and what you can do differently to
reach your financial and business
goals now. Adjust and reevaluate
your personnel needs, training,
equipment upgrades, advertising, etc.



Marine Fabricator July/August 2020

Table of Contents for the Digital Edition of Marine Fabricator July/August 2020

Marine Fabricator July/August 2020 - Cover1
Marine Fabricator July/August 2020 - Cover2
Marine Fabricator July/August 2020 - 1
Marine Fabricator July/August 2020 - 2
Marine Fabricator July/August 2020 - 3
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Marine Fabricator July/August 2020 - Cover3
Marine Fabricator July/August 2020 - Cover4
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