Author

Aaron

Business

9/21/24

Lessons from Lehman Brothers’ Collapse – Richard Handler

  1. There is no such thing as a “slight liquidity crisis”
  2. Everything in life is fragile
  3. Sometimes bad things happen to good people
  4. Never take anything or anyone for granted
  5. Leverage can’t distinguish between good or bad, but it will happily (magnify) both
  6. You never have as much time as you may think
  7. Character is determined during tough times
  8. Arrogance always kills
  9. If your debt holders are at risk, your shareholders will probably be wiped out
  10. If you stay positive through the storm, the sun always eventually rises, and life will go on.
Business

9/20/24

5 C’s for Surviving a Downturn in Business – Verne Harnish

  1. Communicate Daily – Airbnb went into a daily huddle 7 days a week when they lost $1 billion in bookings during the pandemic. The key is looking at data and making decisions DAILY.
  2. Customer Contact – double down on connecting with clients and finding out how to help them – they might be struggling as well. “Hidden Champion” firms have twice the number of employees directly supporting customers than other firms. Give to receive.
  3. Clean Up and Catch Up – a downturn is a good time to clean up sloppy processes, eliminate needless activities, and play catch up with systems. Simplify, simplify, simplify.
  4. Cash, Cash, Cash – review ALL recurring expenses that may have creeped into costs; ask all employees to find ways to reduce their expenditures; seek lower cost solutions; and tighten up billing and collections.
  5. Calm and Considerate – above all, take a few deep breathes, only risk money (not your health), and remain calm and considerate. “Leaders absorb fear and exude hope” – it’s your job.
Health

9/18/24

Your beliefs don’t make you a better person, your behavior does. – Sukhraj Dhillon

Inspiration

9/17/24

If we sit in our comfort zone all the time, we rot. It’s like stagnant water in a jungle, in a stream. If it’s dammed up, it starts to stink. You’ve got to get out of that comfort pit and do little challenging things, and then when the crisis times come in your life, you’re strong. – Bear Grylls

Inspiration

9/16/24

When you limit your options you tend to make better decisions. – Ryan Holiday

Health

9/15/24

Being fit is another sign of self respect. – Mark Devine

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