SV In the Time of COVID 19
October 1, 2020
As we end the first quarter of our fiscal year, I want to say thank you for your perseverance and ingenuity during the chaos of 2020. InJanuary of 2020 we all had high hopes for Sustainable Ventures, everyone was on track to have a great year financially and we were expanding and growing. It was a very optimistic time. In the months since we have faced challenges not seen in 100 years and you along with your teams, are handling it in stride.
2020 has seen each SEBU face unprecedented challenges, for Sustainable Ventures it was a virtual shut down in March and April leading to minimal customers and revenue. Your patience during this pause was impressive. The willingness of the team to take on temporary re-assignments and pursue the limited revenue streams that were available, was very inspiring to watch both as a CEO and a person.
We only have three more months in 2020 and while they are allowing us time to adjust to the new normal in terms of servicing our customers, they are going to be a busy three months for Unity College as a whole. We are beginning to shift the way we work – moving from a process based to outcomes-based culture, actively building out the Enterprise Model and leaning into our Strategic Plan. Sustainable Ventures, which has always been a key part of the Enterprise is going to become even more strategically important as Unity College continues to grow.
That means a couple of things for Sustainable Ventures, one is it will be working more closely with and Hybrid Learning and Distance Education to host low residency and face-to-face classes when it is safe to do so. It also means that SV will be exploring new markets and revenue generating opportunities in an effort to move past the pandemic induced losses we experienced in the spring of 2020.
For this innovative and creative team this is a very exciting time, one that pushes us to think beyond the traditional and look at how we can create new revenue streams that align with our mission and can sustain us in the future whether it is through new ventures or augmenting the ones we have. This is our time to reboot and look to the future, knowing that we will reevaluate our situation in the spring of 2021, after all, Success is the sum of small efforts, repeated day in and day out. Robert Collier.
When we created Sustainable Ventures last year, I was confident that the experience and passion this team brought to the table was just what we needed at Unity College and in higher education as an industry. You are responsible for non-tuition revenue, while supporting theinstitution and providing real-world manifestations of our curriculum. You, as a SEBU, are unique to higher education and that is something I hope you are all very proud of, I know I am. I cannot wait until we have a better handle on COVID-19 and its impact on thefuture of mission driven commerce, because once that happens, we can reconvene and re-imaginer the future of SV.
In the meantime, thank you and keep your chins up!
Dr. Melik Peter Khoury
President, Unity College