Navigating Finances During Challenging Times.
This is the fourth in my series of five Monday video posts focused on leadership lessons during challenging times. Today’s post focuses on how to address a subject that often creates emotions like anxiety and shame.
Our relationship with our finances can be complex. In fact, one of my past posts focused on the question of whether money brings freedom or takes it away. While this is primarily relevant to those running a business, the first three points are likely relevant to all of us.
You’ll learn more by listening to this short video of me in a jungle as that’s what the world can feel these days. Scary! Here’s the summary of my five key points:
- Get real. Plan for the worst and have a Plan B, C, D and E. Stay liquid. And, I don’t mean drink heavily even though you feel like it.
- Don’t be afraid to ask for help.
- If you went to couples' therapy with money as your partner, what would you say about money and what would money say about you? Ouch!
- If you have investors, it’s time they “outed” themselves. More on this in tomorrow’s post on “How to Find Your PEAK in a Downturn.”
- And, here’s a question to ask your leadership team: “What do we want this company to look like in two years?”