Confidence for Uncertain Times
March 12th, 2020 12:00am
Whether the Corona Virus, or just a recession, all of us are susceptible to life being full of uncertainties. Everyday we are bombarded with political upheaval, health concerns, economic rallies/declines and the list goes on. Fear is certainly a normal response, but that can only take you so far. At some point you just have to accept reality, make a plan and move forward so you can get back to a place of strength. This document should be helpful for businesses/investors and service providers to put together a game plan. My hope, and prayer, is that this can fit into any industry you find yourself in. Lets go ahead and dive in to some proactive measures of what I call Wisdom, Plan, Do….here they are:
Step 1: Wisdom….Gather
- Find your centers of influence, which are in the following areas and reach out to them for wisdom/insight
- Political leaders/influencers
- Medical professional leaders
- Financial/Banker Professionals
- Legal Professionals
- Coaches/Management Consultants
- Read books on managing during recessions
- Questions to ask:
- What should I be preparing for now?
- What practical advice would you give me?
- Where should I spend my energy/focus?
- How can I be proactive given the current circumstance?
- How can I think different to thrive in this situation?
- Who do you think I should be talking to?
- When do you think I should be making more dramatic decisions?
Step 2: Plan….Get Together
- Get a group of trusted advisors together and set an agenda
- Revenue: What are the sources we can count on and how can we generate new sources?
- Expenses: What expenses should we keep in place, as they are an investment vs. things we can negotiate?
- People: How can we engage our internal people and external people to help become part of the solution?
- Capital: What do we have now and where can we look to obtain sources of capital to continue to succeed?
- Strategy: What simple, but powerful, steps can we put in place to strategically overcome obstacles in the way?
- Execution: What steps have we put in place to follow thru with our plan? How are we going to hold everyone accountable?
- Monitor: How are we going to track the results of what we chose to do?
Step 3: Do……Go and take action
- Start calendaring your ideas down
- Take one step at a time and focus on one step
Remember not to get too caught up in media, but focus on the things you can control. What you can control is your thoughts and the next decision you make…..outcomes are up to God.