11/22/2019
Vince Haworth from Bank of the Prairie did such a tremendous job with his 'behind the curtain' look at how a bank REALLY reviews a loan request at yesterday's GAME session! So, we'll be doing our financial projections segment at the Dec. 12 session - bring a P/L and balance sheet! And bring an idea for an investment you might make in 2020: a line of credit, a new office, a new warehouse, additional staff, or ____________? We'll run the numbers!
Also, we discussed contingency planning - see below:
As a follow-up to last week's discussion of contingency plans: Our latest GAME cohort members worked through scenarios that they should plan for, which included: illness/death of a principal, the classic fire, flood and tornado, and then a whole passel of modern threats such as bank accounts being hacked or frozen, ransomware, robbery, phishing (or social engineering), active shooters, dumpster diving...
What else should your business have a plan in place for? In terms of prioritization (think: likelihood and impact), what are your first three scenarios?