Good Recession Presentation #7 01.05.2020
This week: “DON’T PANIC” As your business approaches the end of the “Emergency Response” phase, and begins Planning for the future, it’s time to restructure your “Recession War Cabinet”.
- Who are the 5 Key Relationships every business owner needs?
- Who are the 5 New Relationships you want to start introducing?
- How do they play nicely together in your sandbox?
- Plus, as always, our Weekly Economic Snapshot and Welcome Meditation
This is the seventh of our regular, standalone, pandemic recession videos, hosted by international business advisor Jacob Aldridge.
Economic Snapshot 06:16
Is Australia the Lucky Country Once Again? 08:41
Your Business Priorities for This week 13:36
Revising your War Cabinet and Where you Invest your Time 15:32
A special offer from Jacob Aldridge, available anywhere in the world 34:38
Next Steps & Downloads 42:47
Downloads & Subscriptions
If you own a business with 2-500 employees, join our mailing list for every presentation and exclusive offers here.
Download the Slide Deck here. Specific recommendations across these 10 categories of advisors, peers, and employees are included below.
Join our discussion group at https://www.facebook.com/groups/GoodRecession
Full Webinars and specific chapters on Whether Australia will be the Lucky Country Again are available on our YouTube Channel. Please Like and Subscribe here, or search “Don’t Waste a Good Recession”.
Audio versions of our webinars are released as a Podcast on Spotify, Apple Podcasts, and Captivate. Search for “Don’t Waste a Good Recession with Jacob Aldridge”, and you can Subscribe to be notified of each new episode.
Where do you Invest your Time?
Among the most valuable strategic frameworks and projects I’ve helped business owners implement is “RNR” – the concept that your (and your team’s) time is the most valuable asset in your business, and how you invest that time will determine your commercial and cultural success.
Clear “Role ‘n’ Responsibilities” give you “Rest ‘n’ Recuperation”. The initial “Respond Phase” of a Recession naturally pulls you and your team back into the “Red and Blue” areas. Now is the time to make sure you don’t stay there, because the “Green and Black” areas are at least 10X as valuable.
Enjoy these 3 short videos from my “Blackboard Fridays” series, as they explain:
- The RNR Concept
- The Exercise you can do with your diary, or across your entire business, to understand today’s investment and whether you can achieve better returns with a different mix
- The “3 Russian Brothers” exercise to help business leaders make the change from their current responsibilities to those which propel a business toward its vision
Specific Advisors I Recommend
If you trust your current advisors (accountant, business coach etc) then now is not the time to change, and these people would also be the ones to ask about filling any gaps your business may have in the Recession ‘War Cabinet’ I propose.
Here are some individuals I recommend, with two important caveats: firstly, your ‘advisors’ in some categories may be employees not consultants; secondly, no advisor (not even me) fits every business, so while all of these individuals and companies are fantastic they may not be right for you.
If you want to discuss, please let me know: firstname.lastname@example.org
A Business Advisor with Recession Experience
Your New Year’s Resolutions and January business plan is probably irrelevant right now. So too, the mediocre advisor’s toolkit of positive intentions and motivation is exposed when a predictable Recession arrives.
This is particularly hard in Australia, where my business is based. Because we haven’t had an official Recession in almost 30 years (and no, the Asian Financial Crisis, GFC, etc are not quite compatible), very few accountants / lawyers / business coaches have this experience.
After all, why am I the deep generalist hosting Don’t Waste a Good Recession? Because I am an international business advisor, I lived and worked in the UK and North America during the Great Recession (GFC), so I have seen both the unique challenges and solutions small and medium sized businesses are facing right now.
Of course, I’m not the right fit for every businesss. If you want my list of Brisbane-based business coaches, click here. I have similar relationships in almost every English-speaking country around the world – reach out if you want an introduction.
Finance Professional / Stimulus Expert
For many SMEs, these two roles are both filled by your Accountant. If your Accountant can fill both, great; in my experience (as a former Partner in an Accounting Firm) most struggle to step into true forecasting and strategic planning.
- David King, CFO Centre Australia
- Brendan Balasekeran, BDO Australia
- Bradley Conn and Craig Harrison, businessDEPOT Accounting
- Jason Andrew, SBO.Financial
This can be as simple as your personal trainer or mindfulness coach. It may also be a solution you take to your whole business, and these recommendations (all of whom I have engaged to work with my teams) cover the range:
- Vanessa Bennett (Aust.) & Alex Davids (NZ), Next Evolution Performance
- Katrina Walton, Wellness Designs
- Margie Ireland, Connect Inspire Transform
Don’t confuse “Brand” (what makes you special) with Branding (the marketing representation of that essence). Just go talk to:
- Belinda Vesey-Brown, Brandonian
Marketing Strategy and Execution
Knowing what you need and who can help you with that is the great difficulty in finding good Marketing guidance. Review this shortlist and mention my name when making contact:
- Kurt Sanders & Brittanie Dreghorn, The Content Division
- Natalie Carosi, Lemon Tree (Gold Coast)
- Tys Cobb, bD Marketing
- Adam Wallace, Content First
- Bianca Dillon, b:content
- Jude Love, Love Communications
If your teams’ time is the most valuable resource in your business, then it pays to be great at HR both compliance and strategy. Talk to:
- Sel Watts, Watts Next
- Georgia Henry, Henry Reed
As you can see, in some of these categories there is an innovative organisation that is so far ahead of any other that I’ve seen that I cannot recommend you invest with anyone else. In regards to putting your customer at the heart of your business – with the benefits for RND, Sales, Marketing, Profit, and more – those people are:
- Peter Turner & Sueanne Carr, Customer Frame
nice, thank you very much, Nigel
You’re welcome Nigel. I hope your family and clients are all safe and strong – I hope to return to the beautiful city of Vienna very soon.
Great video Jacob. So important for us all to Stop, Breathe, Reflect and Plan. That’s when surrounding yourself with the right advice and support becomes so critical – the “war cabinet”!
Well said David, cheers.
Thank you so much for the mention Jacob! We’re honoured to be on your list. -CF
Keep being awesome team CF – I’m honoured to work with you!