As founder and managing attorney of The Caiaccio Law Firm, Kevin has more than 25 years of experience practicing commercial real estate law.His firm has been a clent of SBS Accounting & Advisors for 5 years.
Posted by SBS Accounting & Advisors on Thursday, July 30, 2020
As we all learn to navigate these unprecedented times amid COVID-19, businesses large and small are being forced to pivot in nearly every aspect of the old “business as usual.” For many, this includes changing everything from top-level management operations, marketing, our use of technology, human resources processes, and so much more.
But what about people?
While maintaining a business and battling for resiliency, the savvy business owner isn’t forgetting to prioritize people- clients and employees- above all else. In a recent interview, Caiaccio Law Firm founder and managing attorney Kevin Caiaccio met virtually with Jonathan Bill of SBS Accounting & Advisors to discuss the effect of the virus on small businesses, forecasting for the future, and staying grounded in empathy in business operations during the pandemic.
Here are some of the highlights of their discussion.
Effects of Coronavirus on Small Businesses
According to Mr. Caiaccio, his business, like many others, has been primarily affected in three main areas: clients, employees, and the bottom line. As a law firm that concentrates on the representation of sophisticated real estate professionals in commercial transactions, providing the highest quality service and maintaining a trusting relationship with clients is the number one priority. “During this pandemic, the most important thing is understanding how it’s affecting my clients so I can be a better representative for them,” he says. Along with maintaining an outstanding and safe client experience, Mr. Caiaccio says the Caiaccio Law Firm has also transitioned smoothly into a remote workplace for the health and well-being of its employees.
Recent Questions, Concerns, and Forecasting
Like many business owners, Mr. Caiaccio has kept his ear to the ground for new trends in his industry and has heard claims of uncertainty in the near term around rent collections, as well as in what the markets will look like as we head towards the end of the year. But in the midterm, he says, some opportunities may come when we emerge from the pandemic. Unlike other economic downturns in the past, the COVID-19 pandemic set in motion a strictly health-related downturn. Mr. Caiaccio says, “Businesses should expect short term uncertainty, but long term optimism.”
The Bottom Line
Mr. Caiaccio recommends close revenue and expense tracking to protect your bottom line during these uncertain times, and emphasizes retained earnings and cash reserves as being more important than ever.
His best takeaway advice? Expect the unexpected! No one can predict the future, but we can all move forward to a “new normal” by choosing to retool, innovate, and adapt.
The Caiaccio Law Firm provides comprehensive and sophisticated legal services to our clients in transactions involving commercial real estate assets throughout the U.S. We enhance their reputation while providing security and peace of mind. Our experts translate legal language to business terms, enabling our clients to completely understand every step of their transactions. We strive to be the most sophisticated boutique law firm in the Atlanta area, providing diversified risk management navigation to clients. Call us today at 404.846.4990 or visit our website.
About the author
Melanie Tate is a J.D. candidate at Emory University School of Law. Melanie earned her B.A. in literature from Louisiana State University. She is a 2019 – 2020 legal intern at Caiaccio Law Firm.