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Alan Weiss’s Monday Morning Memo® – 03/16/2020
From:
Summit Consulting Group, Inc. -- Alan Weiss, Ph.D. Summit Consulting Group, Inc. -- Alan Weiss, Ph.D.
For Immediate Release:
Dateline: East Greenwich , RI
Monday, March 16, 2020

 

I’m offering a free livestream broadcast on March 26, 11 am US eastern time, on sustaining and building business during a crisis. I’ll also focus on financial and life balance issues. Simply go here at the appointed time, or access the recording later. Absolutely free. You can sign up here.

Here’s a sample:

I hope you’ve been practicing good financial hygiene, and if not, this crisis has taught you:

• Have cash on hand just in case banks or ATMs are inoperative. We keep ours in a fireproof safe along with our insurance policies, birth certificates, deeds, estate papers, and so forth.

• “Pay yourself” about 20% of all income in a separate account so that you have an emergency fund. Ideally, have at least six months of normal living expenses in there.

• Never have all your investments in securities. Keep liquid cash accounts appropriate for your circumstances.

• Always try to get paid in advance, or at least rapidly at the start of project.

• In advisory roles, do not be paid in installments monthly, but at least by quarter or larger time periods.

• For speaking, insist on full fee in advance to hold the date.

• Do not panic and sell stocks precipitously. What goes down will go back up. Be patient.

• Diversify your investment portfolio, preferably with a professional’s advice.

• Even “non-refundable” tickets are refundable or transferable with modest fees. But I advise you do not purchase these.

• Don’t pay estimated taxes in the US quarterly, simply put the money aside and pay what you need to in December, which you can do without penalty.

• If you’ve invested in emergency supplies, which we have ever since 9/11, be sure to include pet supplies.

I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts.—Abraham Lincoln

Million Dollar Consulting® College: I’m running another in this long-standing series in New York in October, the first one ever in the Big Apple. In 2.5 days learn the best practices in marketing, branding, proposals, fees, implementation, labor reduction, and so forth. We include “hot seats,” role plays, and case studies. Limited to 12 people. Subscribe here.

 
Office Manager
Summit Consulting Group, Inc.
East Greenwich, RI
401-884-2778
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