During times of economic upheaval (like the Coronavirus pandemic is causing), it is essential to review, revisit and adjust your financial plan immediately. Whether your business or personal finances are blowing up or stable right now — this will be key to secure your finances and especially discern opportunity from distraction, manage risk, and capitalize on chaos rather than be crushed by it.
A businesswoman right now is watching her world fall apart, and wrote this to her followers:
“Right now I’m deciding the fate of my business, my staff, my family and my community interactions. It’s one of the hardest responsibilities I’ve had to shoulder.
There is no part of this responsibility that I take lightly, be it protecting public health or making sure I’m able to pay my staff and to feed my family.
This may sound dramatic, I know, but for those of us who work in the service industry, our entire lives — and the very reason we exist — is at stake. Love, Amy”
For people like Amy — we’ve put together a free Business Survival Guide.
You can get this guide, along with a Free “Financial Trends Update” training that Wealth Factory founder, Garrett Gunderson just held a few days ago:
Get your free Financial Trends Update + the new Business Survival Guide
These resources were originally intended for Wealth Factory customers, and in fact we’ve given them to our clients first…
But in times like this, it only feels right to offer these financial resources to everyone.
Because even though we are a business with employees to pay and bills to cover just like Amy, we also believe that people come before profits.
We want you to be safe, physically, emotionally and medically.
Still, according to a USA Today poll, more people are still more concerned about their finances than their health.
And that’s where we come in.
How we’re focusing on helping people right now…
We are in “production mode” right now.
Garrett Gunderson, our leader here at Wealth Factory, has filmed dozens of new trainings.
He’s also held 3 live (remote) webinars for customers — one of which we are making freely available to everyone.
Garrett has also held specific new trainings for our staff to help with the response to this crisis.
Our team is meeting more often to discuss and create solutions for our customers.
Plus, our Wealth Factory research team has been busy creating new resources and guides, including the Business Survival Guide we are giving away.
Why are we doing all this?
You’ve seen the messages in your inbox. They run the gamut:
The formal:
“We take this crisis very seriously.”
The sad:
“We’re closing down until further notice.”
The sharks:
“The best time to make money is right now”
The simplifiers:
“It’s just like 2008”
The Captain Obvious:
“It’s going to end…eventually.”
The deniers:
“This is overblown. Not changing my lifestyle one bit.”
So first and foremost — please, don’t take this threat lightly.
Use the extra time you have to get informed and keep your family safe.
Don’t rely on mainstream media for accurate information. It may not be wrong, but it’s all interpretation at some level.
Instead, go to the authorities on the subject.
Here’s one of our writer’s favorite sources. It’s reliable, helpful, and updated daily:
The Harvard Medical School’s Coronavirus Resource Center
Why are people going crazy?
You already know about the hoarding and empty shelves. You’ve likely witnessed some other crazy reactions.
The question is, why are people acting this way?
Well, it drives people nuts not to have answers.
And right now, there are very few answers.
So how do you — as a business owner or parent or a partner — be a leader through this, especially if you don’t have all the answers?
Start with just listening.
Things are moving really fast.
Try to slow it down.
Bring calm to the room.
If ever there was a time in history for you to bring your very best to your family, your tribe and your customers…
This is that time.
You can waste energy on imagining how things could get worse.
Wait on that.
Right now the people in your lives need your best even more than ever
Your business and your relationships are now faced with a fine line between exploiting and helping.
Err on the side of helping.
And think twice before you speak, or write, or post on social media.
Be very careful about the mood you want people to be in after you write or speak. Choose your words carefully.
Maybe the guy walking his dog with a mask and goggles and spacesuit is taking care of grandma at home. He wants to keep his dog healthy, but doesn’t want to put grandma at risk either.
And beware of the “we’ve been through this before” syndrome.
While it’s true that this crisis will spur all kinds of innovation and we will get through it —
This IS different. And unless you’re 100 years old, no one’s gone through ANYTHING like this before.
Use this time to Produce, Rejuvenate, and Reinvent…
So use this time of distancing, isolation and quarantine to make the positive changes in your life you’ve always been meaning to get around to.
Use this time to strengthen your family and friendships, even if that has to be done at a distance.
And use the resources and trainings we’re providing to rethink — and possibly even reinvent — your financial philosophies and frameworks.
And please, let us know how we can help.
Get your free training and Business Survival Guide here.
Build the life you love.
The Builders at Wealth Factory
