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First Rule of the Game, Stay in the Game

  • 12 May 2020

I was recently interviewed by the Talking Law podcast. In our discussion Joanna Oakey and I tackled some of the issues facing small to medium sized enterprises at the moment and what practical steps and attitudes might be appropriate.

If you are one of the relatively few businesses that’s doing OK or even better than before, that’s fantastic, however if you are one of the many, many business owners facing a real and genuine crisis we hope there is something in this 25-minutes podcast for you. Warren Buffet famously spoke about his first and second rules of business: “Rule #1 – Don’t lose money. Rule #2 – Don’t forget Rule #1”. Well he recently sold out of his airline position in the US completely at a reported loss of US$5b – these are strange times even for the Sage of Omaha.

  • How should SMEs tackle the current crisis
  • Managing our emotions during adversity
  • “It’s situational” – How soft will our revenues get and why?
  • Time is our enemy, speed is an asset
  • Insolvency and safe harbour
  • Keeping hold of our humanity

If you or anybody you know would like to chat about your business circumstances and would like some practical independent input, feel free to call me or one of my colleagues anytime. We also encourage you to share this link with business owners, especially younger business owners who might require some counsel at this time.

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