David Horne. Preparing Your Business For an L Shaped Recession
David Horne is one of the most experienced people in the world when it comes to raising debt funding for businesses, having raised over £100 million through equity funding.
David joins Gavin today to discuss the very real prospect of an L-shaped recession, and how you can successfully navigate your business through what may prove to be choppy waters ahead.
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KEY TAKEAWAYS
- We're dealing with two issues, moving into this likely global recession: an existential issue in terms of the virus's effects on humanity, and the fact that the economy simply halted, with no reference point in terms of past woes.
- Instead of relying on a future negative scenario, we need to consider both positive and negative. We do not know what is to happen in the immediate future. We need to attempt to remain optimistic where possible.
- Prudence is never a bad thing. Saving money in reserve can either be used for contingency, or if not needed, as a fund to invest or repay finance.
- Think about who your customers are and focus on the best ways to keep them. But if they don't return, who will your next customers be, and how can you best reach them?
- If you can save money now, then you really should be doing so. Don't become complacent, as there's a very real chance that your employer won't be in business if the economic troubles do not relent.
BEST MOMENTS
'This time it really is different'
'The only thing to fear is fear itself'
'Keep your eyes on the cash. keep your eyes on the numbers'
‘What the chancellor has done is positively heroic'
VALUABLE RESOURCES
The Business Mastermind Podcast
To secure your place on the Game Changer Summit, go to www.bit.ly/gamechangergavin
David Horne LinkedIn - https://www.linkedin.com/in/david-b-horne/?originalSubdomain=uk
Add Then Multiply - http://addthenmultiply.com
ABOUT THE HOST
Gavin Preston
Gavin is an inspirational Speaker, Business Strategist, Business Growth Mentor, Trainer and
high-performance Coach. He works with Business Owners and Entrepreneurs and has a strong track record in creating creative strategies to accelerate the growth of their business. He has helped hundreds of SME business owners and leaders improve their performance and that of their business and a comparable number of executives and employees in blue-chip corporates over the last 20 years.
Gavin's energetic, insightful and yet down to earth and practical talks, workshops and coaching is in demand with high growth business between £250,000 and £30 million revenue and with multi-national organisations at all levels from Board to frontline
Managers. He is an expert in Business Growth Strategies, Peak Performance
Mindset, Persuasion & Engagement, Marketing, Productivity, Leadership
Development, Team Development & Motivation, Leading Change, Stakeholder
Management, Personal Effectiveness and Behavioural Change.
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