Victor Hoskins, FCEDA | Challenges for Small Businesses & Pivoting during the Pandemic
About the Episode:
Small businesses are the backbone of the economy, and many people rely on them to provide for their families. With the recent pandemic, they have been struggling to survive. The challenges for small businesses in the pandemic are numerous. For one, they have to deal with fewer customers and less income because consumers lack trust. Secondly, they also have to deal with increased costs as they have a smaller customer base and more expenses that need to be covered.
Join this conversation as we feature Victor Hoskins, President, and CEO of the Fairfax County Economic Development Authority (FCEDA). Victor joined Fairfax County (Va.) Economic Development Authority as president and CEO on August 5, 2019. Previously, he was the director of Arlington (Va.) Economic Development since 2015. In that role, he is most known for leading the team that successfully attracted Amazon HQ2 to Arlington County, a deal that will bring between 25,000 and 37,850 Amazon jobs to Arlington, stimulate the creation of another 75,000 jobs in the Washington region, and generate between $3.2 and $4.8 billion in revenue for the Commonwealth of Virginia.
In this episode, we learn more about Mr. Hoskin’s new role and the organization’s mission, discuss how FCEDA has had to pivot during this pandemic, and explore what Victor hears from the business community in Fairfax County. You’ll also get insights on the greatest challenges for the small business community, understand what tools, funding, and/or resources are available to minority and women-owned businesses, and hear about Victor’s vision for growth and vitality for minority businesses across the region and FCEDA.
Here’s What You’ll Get In This Episode
[00:12] Episode intro and a quick description of the show
[03:55] Victor’s background and leadership journey
[07:40] Victor’s devastating experience during the COVID pandemic
[09:44] The performance of economic development organizations
[12:30] How to recruit as you retain a business competitively
[16:51] Nuggets to permit leverages in small businesses
[18:46] The fortunate credible results of net competitions with big organizations
[19:49] Victor’s advice on how to merge with Fairfax County
[22:08] The most important considerations to focus on during the transition of a business
[25:44] The impact of organizations on economic development during the COVID pandemic
[28:16] Victor’s corporation’s mission for diversity upon transition to new normal life
[31:09] Victor’s advice to small businesses joining an external business environment
[33:40] How to reach and connect with Victor for more information
[35:04] Victor’s inspiration and coordination strategy to win in business
[36:13] Victor’s lessons learned during the COVID pandemic and course of life in future
[37:59] Ending the show and call to action
- Do not look or/and think of a problem; fix it.
- If you save a job, you save a household. If you save a household, you save a community.
- You need the right team regardless of what you do, big or small.
- If you put all your strength together, you become stronger.
- You need a big team and a good coach to win the super ball.
- You can transform an organization to fit the situation and sort your business.
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