Is it COVID-19 Thats Killing Your Business, Or Impatience? #1021

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Automatic TRANSCRIPT

I've been thinking recently about how parents and our grandparents. Would have dealt with this current crisis particularly when it comes to business because if you think about back, then nobody winning business with the expectation that within three to five years, they would be selling that business. It was really a lifelong endeavor if not long certainly long-term whereas these days that's not necessarily the case I know a number of people who started the business with the expectation that within five years and certainly well, within ten us, they would be selling that business and then moving on. and. The thing with that needs. If you're taking a short-term approach business decisions can be very different than if you were taking a long-term approach, would you necessarily invested all that capital right now if you weren't so hell bent on getting urgent growth so that you could then flip the business early. Would you be carrying so much dead on the business would you only be carrying three months worth a cash flow the answers to? All of these questions plus many more will vary and we'll be a reflection upon whether you take a long-term approach or short-term. Dare I say more impatient approach and the problem with that impatient approach is it can sometimes leave you vulnerable in the event of a change in market conditions. Certainly, that's what we've got right now. So as we start the head into the next phase of business I, think it's worth giving some consideration to. Taking a long-term long term or short term, view your business being patient or inpatient, and if you're being impatient how those decisions potentially going to leave you vulnerable to any changes in the market in the future because let's face it, there will be future changes in the market that. I think it's worth giving some thought to again as we move into this next phase of business or that is it for today I do thank you for your time and I will be back again tomorrow. So, yeah.

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