Advice from “Cake Boss” star Buddy Valastro to business owners during the coronavirus pandemic: “You have to pivot”
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As the Coronavirus pandemic continues to increase across the country, “Cake Boss” star Buddy Valastro share some tips with entrepreneurs who are struggling to keep their business afloat.
Valastro, a famous Hoboken, New Jersey baker who became a household name thanks to his “Cake Boss” show, has since opened a number of bakeries, and even restaurants, across the country. He is also preparing for a return to the Food Network with a show called “Buddy Versus Christmas”.
Talk to Yahoo! Finance this week on the reversal of the coronavirus pandemic food and beverage industry, Valastro shared that he had to think outside the box to take advantage of his talents. He advises other business owners to be as adaptable as possible.
“I hope the business owners have pivoted and diversified. You see, I am fortunate enough to be diversified. I do television and I own a production company that makes television, and I own bakeries and I own restaurants and I own real estate, so if you’re diverse, yeah, you might be doing badly here, but you’re not going to do well there, “Valastro said.
Buddy Valastro, the “Cake Boss,” shares his advice with business owners. (Slaven Vlasic / Getty Images)
His top piece of advice to “any” entrepreneur, not just those in the restaurant industry, is, “You gotta pivot, man.”
“This is when you make your bones. And in fact, I’m doing more and taking that negative as a positive and looking at business strategies that maybe I wasn’t so excited about a year ago. “, he continued.
Still, Valastro’s words come with the understanding that making ends meet has been far from easy. The owner of the bakery said that in addition to worrying about restaurants, he also thinks about the owners.
‘CAKE BOSS’ STAR BUDDY VALASTRO REVEALS HE HAD A THIRD SURGERY TO REPAIR HIS INJURED HAND
“Because a lot of these buildings are operated. What if you pay, and I’m just going to use a dummy number, but let’s say you pay $ 50,000 or $ 100,000 a month in rent and your business is down 40% , you “You make 40% of the business, well, what could you pay in rent? So you are a homeowner you get $ 50,000 a month now you get lucky if you can get $ 10,000. And the businesses still can’t make money, ”he said.
Valastro’s interview comes at a time when his own future career is uncertain. The 43-year-old cake expert hand was impaled several times during a terrible bowling incident in September, leaving his future back to the bakery unknown.
Earlier this week, the “Cake Pattern“the star spoke to Entertainment tonight on his prognosis and whether or not he will be able to return to baking and decorating cakes.
‘CAKE BOSS’ STAR BUDDY VALASTRO IMPALE HANDS IN A ‘TERRIBLE’ BOWLING ACCIDENT
Buddy Valastro recently impaled his hand in an accident at home. (Alexander Tamargo / Getty Images)
“Well, I feel good, you know, I feel like I’m in a good mood trying to look at the glass as half full rather than half empty,” he shared.
“I’m, you know, just trying to recoup and recoup all of my strength and see exactly what the full extent of everything is going to end up being, you know, because it’s still kind of unforeseen. . But the good things, I still have my right hand. I could have lost fingers and crossed my wrist and been a lot worse. So, I take it day by day and cake by cake. “
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Since the accident, Valastro has had three surgeries and may need more depending on how his hand is healing.
The baker confessed that he wasn’t sure “how much I’m going to be able to do” in terms of work again. “I may be like a boxer who has a heart but who no longer has the tools and I hope in front of God that this is not the case and only time will tell”, he admitted. .
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