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  2. #4: A Business Path Through the Recession | Bill Conerly

#4: A Business Path Through the Recession | Bill Conerly

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Jun 25, 2020

Practical steps a business owner should consider to plan, to respond quickly and to move forward through the recession. A four-plan approach to conquering the fear and moving forward. Thought-provoking questions the banker can ask to help your business borrowers move in the right direction. And are you ready for the questions the business might plan to ask you?

Topics discussed in this episode:

1:14 The first step is to understand the business.

2:45 We've got a shell-shocked leader and I want to see worst case.

3:32 It is not so important to get it precise as to get the magnitude.

3:45 Have the business owner sketch out three business plans: Worst Case, 2/3rds worst case and 1/3rd worst case.

5:52 Is there a stop button? Can you pick a dollar amount of debt that you are not willing to go further.

8:58 Questions the businesses should ask their banker

11:31 Go through financials line by line to address the question, "Is this business going to survive?"

13:44 In this recession, the businesses that survive will be those that are looking at the numbers.

15:30 We cannot delay conversations because they may turn unpleasant.

 

About Bill Conerly:
Bill has a Ph.D. in economics and over 30 years applying economics to business challenges. He worked for First Interstate Bank rising to the level of Senior Vice President and has held positions in economics and corporate planning at two Fortune 500 corporations. And for the past 10 years he has consulted for companies large and small, helping them to make better decisions through a better understanding of the economy.
 
He writes for Forbes Magazine and is the author of two books. The first is 'Businomics: From the Headlines to your Bottom Line -- How to Profit in Any Economic Cycle."
 
His most recent book is 'The Flexible Stance: Thriving in a Boom/Bust Economy." He is also a member of the Oregon Governor's Council of Economic Advisors.
 
Articles on Forbes.com
 
 
Links to books:
Businomics: From the Headlines to your Bottom Line--How to Profit in Any Economic Cycle https://www.conerlyconsulting.com/writing/businomics/
Also available on Amazon.
 

The Flexible Stance: Thriving in a Boom/Bust Economy https://www.conerlyconsulting.com/writing/the-flexible-stance/

 
Newsletter (free): latest issue, plus option to sign up: https://www.conerlyconsulting.com/writing/newsletter/