“It’s only when the tide goes out that you discover who’s been swimming naked.” The world’s greatest investor, Warren Buffett:
Evolution dictates survival of the fittest. A recession usually is survival of the smartest.
Almost 75,000 businesses were wiped out in the last downturn in Australia. To survive this next onslaught you better plan past potential threats including what will be a declining consumer confidence.
“The world’s financial experts have been banging louder and louder warning of a US recession by 2020. And Australian economists predict that we could see that downturn here a little earlier. We’ve enjoyed almost 30 years of continuous growth in this country, but global and local trends point to the tides turning in the Australian economy. This slow-down could become a ‘downturn’ without too much trouble”. **
In recessionary times, you CANNOT give up on growth. Business owners that know they’re s**t know that recessions actually present real opportunities … we’ll even show you ‘intelligent’ digital tools that could detect early warning signs in your business.
Even if you have positive cash flow that is not enough. You must be returning profits and make sure your business is profitable in such a way that you have the cash available when needed to pay ALL the bills.
Don’t sit idle with a ‘wait-and-see-mindset’ for a downturn. Be pro-active and try and recession proof your business by driving increased productivity and growth using the ideas we will show you. There are no silver bullets to become recession proof BUT there are many actionable strategies you can start implementing regardless, right away, most of which are costless.
Don’t leave it any longer to put on the wetsuit and protect your business from the looming economic low-tide. A nation’s economy only needs two financial quarters of negative growth to qualify as a recession, that’s not much, but for many businesses that’s enough to take them out as they stand right now.
“Just in time for winter, a big bank of storm clouds has rolled in to threaten the Australian economy’s record run of 28 years without a recession. The first bank of clouds is already overhead with the chill shown in this week’s remarkably poor figures in the national accounts. And another particularly black set of storm clouds also look set to arrive from offshore in the future”. *
The idea of the big R for Recession strikes fear in the hearts of every business owner but there’s another ‘R’ word: RESILIENCE, my speciality, soon to be yours!
With the right information and strategies, business owners may even be able to leverage certain ‘recession-proof’ strategies and come out the other stronger than when they entered the big R.
The right choices ‘now’ may ‘recession-proof’ your business and even gain competitor market share.
DON’T WAIT TILL ITS TOO LATE: start thinking and acting like it’s already here. You can’t stop a recession, BUT, YOU CAN take steps in the way it impacts your business.
This workshop will look at many measures that you can take away which you can ‘actually’ implement immediately and be ready for the inevitable.
We will discuss such areas about what you should do in different areas of the business including THE NUMBER ONE THING YOU SHOULD DO THAT MOST WON’T! Such areas we will touch on will include:
- Implementing the Profit Calculator … everyone in business needs to know this
- Improving Your Financial Records and protecting your cash flow
- Keeping costs variable and whilst reducing them
- Best approach to cash-flow forecasting
- Unlock Hidden Cash in Your Business
- Switch to more flexible workforce models
- How to build slush fund, the emergency $ you gonna need
- Bootstrapping, and getting Lean processes and systems in place
- How to diversify your customer base
- Increasing the size of your network, building Strategic Alliance Partners and affiliate programs
- Knowing which core competencies to focus on
- Up-skilling and optimising team culture (before the storm hits)
- How to build for resilience.
- Novel marketing strategies
A selected number of business owners and start-ups will be invited to meet with Rick after the event for a free one on one business health check and strategy session for up to an hour on a suitable subsequent date.
** Ashley Thomson, Coaching Hall of Fame: February 8, 2019
* John Beveridge 7 June 2019, business journalist and formerly chief business writer for the Herald Sun
Date: Tuesday 3rd September – 5:30pm till 7:30pm
Location: We Work – 64 York Street
Rick Chisholm – the elite serial Entrepreneur has generated direct sales revenues in excess of 300 million dollars for his own companies across 14 industries, over the last thirty five years. Author of “Business Success for Life”, “The Successful Start-Up”, “Success in Leadership and Influence”, “Developing your Business Acumen”, and many other publications, founder of Innovest SME, thought leader in LEAN start-up, bootstrapping and alternative business models.
About the Venue
WeWork is the platform for creators. We provide beautiful workspace, an inspiring community, and meaningful business services to tens of thousands of members around the world. From startups and freelancers to small businesses and large corporations, our community is united by a desire for our members to create meaningful work and lead meaningful lives—to be a part of something greater than ourselves. Co-founded by Adam Neumann and Miguel McKelvey in New York City in 2010, WeWork is a privately held company with over 10,000 employees.