May 21, 2020
As in many of my discussions with others lately, my spouse and I have been listening to our financial advisors regarding Stage 3 of this bear market and trying to decide the best strategy to protect our hard-earned retirement investments. Since founding RCR 30 years ago, I have lived through many recessionary periods, but my partners and I could not have imagined weathering a storm like this and we are sure many of our small business owner friends are feeling the same thing. So where do we go from here?
First, I think it is imperative to have a positive attitude. From all I have read about those who survived the Great Depression, from which many positive thought movements sprang, progress started here. I believe most entrepreneurs and successful professionals have a positive mind-set and believe at the onset of any problem there is a solution that can be found. We certainly value this in our company and help each other to stay positive!
Second, we must have a plan! What is the plan? For RCR it has been as follows:
1) Keeping ourselves and our families and staff safe and well by officing at home and taking recommended precautions by federal and state authorities.
2) Checking in with our clients to see how we can help them control and cut costs. We have had many positive outcomes for our clients!
3) Continuing to see what our clients need from us by offering ideas that help them get back to work in a safe manner with office distancing suggestions from our great partners.
4) Understanding the needs of others and offering resources through our large network of clients, vendors, and friends during this pandemic.
Finally, commit to being in this for the long term whatever that might be and know we are all in this together! It is trying our patience to alter our daily lives in so many ways. Obviously, we are all concerned first and foremost about our families…that said, you all are like family and mean so much to us. We want you to know we care about your situation and the ways your lives have been impacted in this crisis. If you need ways to help plan your office to be a safe environment, we can refer you to our great partners who are experts in that area. Should you require a reconfigure for your office and have too much on your plate to get this done, we can also refer project managers to whom you can outsource that requirement. If you need a referral for getting a bank to pay attention to your PPP or to an attorney experienced with bankruptcy, we can help. Whatever problem is on your plate, just ask and know we are your partners in finding a solution!
As Memorial Day approaches, we have many to thank who fought for the freedoms our country enjoys today. Let us remember those veterans and ancestors who stayed STRONG through many difficult years. Let us be STRONG, as they taught us, in our conviction to fight this battle and help each other weather this storm.
Stay well and Be safe,
P.S. I would love to hear from you and see if you have other strategies that are helping you cope. We can collect and perhaps share these as a resource with our network!