Peter Thomas: COVID-19 will prompt innovation, new business models, need to adapt – Rose Law Group Reporter Rose Law Group Reporter

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.