Cash Is Still The King
Five birds are sitting side by side on a telephone wire. You shoot one of them, it falls off the wire and hits the ground. Now, how many birds are left on the wire? The obvious answer is “four.” The correct answer is “none.” When you shot the first bird, the other four birds flew off.
All of us are experiencing an infestation of flying birds as a result of the COVID-19 virus and the ensuing economic crisis it has generated.
Although this is obvious, I am saying it anyway: This is not business as usual. In fact, if you haven’t already, throw away your 2020 budget. Shred whatever strategic or growth plan you might have dreamed up 4-5 months ago for 2020. That original strategic or growth plan will not help you survive this crisis… and survival and stability are the new objectives.
A great example might be the Titanic. The original plan of every passenger on the Titanic was to get from England to the United States, but that plan radically changed the instant they hit that iceberg. After that iceberg, there wasn’t one person on the Titanic who was thinking about what they were going to have for dinner once they got to New York. The change in priorities was dramatic because of the radical change in circumstances.
Here’s another example to put things into perspective. Imagine you have been training to run in the Tokyo Olympics marathon. Three months before the starting gun is fired, you get hit by a bus. Assume you are in the emergency room with a collapsed lung, two broken legs, and a real possibility of being paralyzed from the waist down for the rest of your life as a result of the encounter with the bus. The last thing you would be focused on is the dietary and training regimen you initially thought was required to compete in that race. Your priorities would logically shift to accommodate the new reality of your circumstances. You might be disappointed about missing the race, but as you are lying on the bedpan in the hospital unable to wiggle your toes, it would not be your primary concern.