Because we had the relevance of data and the
clarity of metrics in our business in 2006, we
could spot some changes in the market. It was
clear something was about to shift, but it was not
clear enough to us how big it would be. In 2007, that became more
obvious, so we shifted focus.
We had always had a desire to move our speaking business from
my home country of Australia to the U. S., but we could not get the
traction. The market crash of 2008 gave us the opportunity.
Prior to 2008, it was tough to get a callback or a meeting with
an American speakers bureau. They were all too busy to talk to me.
And if they did answer the call, the only response was “When you
move here, call us again.”
With the downturn, agents now had time to talk; they were looking for “new” and “next.” They needed fresh faces to get in front of
clients, faces that had the ideas and street smarts in business and
had survived a shift like 2008. My million-dollar loss of 22 years
earlier turned out to be our opportunity wrapped in an obstacle.
One of the secrets to keep ahead of the curve is to anticipate
what the market is going to need next, and seek to deliver that today.
ARE YOU FUTURE-PROOFED? In a market shift there is always
opportunity. Will you be aware enough of your surroundings to spot
the angle for the opportunity?
I’ve learned that there really is only one
way to ride out the financial pressure of
an economic correction, and that is to
have the cash to do it.
There is no value in scrambling for
money after the fact. In a correction,
your friendly bankers will be under
pressure to keep their lending ratios in
check, and you can bet the first thing
they will do is seek to transfer some of
that pressure to you.
I’ve learned over the years that
solid money-management advice does
not come from a bank. Instead, I’ve
chosen to surround myself with quality
professional advisors who don’t have a
self-interest in my finances, only in my
For us, it’s not only about wealth
creation, it’s about wealth protection
through an economic cycle.
ARE YOU FUTURE-PROOFED? Do
you have enough cash on hand or know
where you can access it?
In obstacles, there are
time to ask
is when you