How to Survive and Thrive During a Financial Crisis
It’s clear now that COVID-19 is having an enormous impact on us all. First and foremost, we’re worried about our health, the health of our loved ones, and for our local community and society in general.And then we realize the potential impact on our businesses. Not just the direct impact today, but the ripple effect that’s running through the broader economy.It might have been when the event cancellations started. It might have been when clientsstarted canceling work that had been promised. It might have been when the government had to shut down many local businesses.Regardless of when you realized it, we are now in a state of massive change and uncertainty. Can we stop it from being a financial crisis for us?Given all that’s going on, Spencer Sheinin is here to share some ideas with you. Spencer is an entrepreneur with an accounting background, and that powers his firm Shift Financial Insights and allows him to provide simple accounting and financial insights for businesses like yours and mine.In this episode, you’ll hear:• How to figure out your financial “new normal” and get re-stabilized. Or if that’s not possible, a sense of how much time you have to figure out a plan B.• Some cost savings ideas you might not have already thought about.• Creative ways to access additional funds to extend your runway.• When to consider pivots or new strategic initiatives.• How to shift your business model to further rely on outsourcing options.• How to rethink your business and your life.• How to think about the eventual rebound and prepare to thrive in the future.This episode is brought to you by Freshbooks, easy-to-use cloud accounting software for people like you. Right now they’re offering a 30-day, no credit card required free trial to listeners of the podcast. To claim it, just visit FreshBooks.com/unemployable and make sure to enter UNEMPLOYABLE in the “How Did You Hear About Us?” section.
Duration: 39 min