How to Flow Your Cash Right Now During The Crisis

Published: Sun, 03/29/20

I hope that this newsletter finds you safe and healthy. My clients have been fortunate. I have been discussing all the measures to take for the past three weeks which has kept them way ahead of the curve. We were 1.5 weeks ahead of the melt down and had plenty of time to get everything in place.

If you have been caught by surprise do not stress. Just review the last three weeks of my emails and start deploying the steps now. It is never too late! Click here to see past emails.

The only thing that will get you through this crisis is CASH, A PLAN, and executing the plan. We continue to offer a Free Corona Virus During and After Strategy Session and you may click here to set up an appointment.

I promise this crisis like all others will end. Make no mistake a lot of businesses are going to be lost and those that emerge will have to operate differently in the "new post-virus wold". Let me say again, if you have CASH AND A PLAN, the probability of making it and actually growing your business goes up significantly.

Let me give you an example. Realtors are going to quit the profession by HUGE numbers. Can you see that one day soon houses will sell again and those that had cash and a plan and who were able to stick it out will have very little competition vs. prior to the crisis? There is HUGE OPPORTUNITY ALL AROUND YOU! This is what my clients and I will be focusing on now, how to emerge as a dominating force when the crisis ends.

HOW TO FLOW YOUR CASH AND WHAT TO DO NOW

1. Call every single creditor (credit cards, mortgage, utilities etc.) and use what I posted last week. When asking for help due to loss of income, if you just say you've lost work, income, jobs, show cancellations, whatever, they can't help you.

Once you say "I have no income due to the Coronavirus", that's the keyword they need to hear to be able to enact their new policies, defer payments, halt late fees, etc.

And, apparently, they can't coach you to say it. You have to do it yourself.

2. Continue to make the same payments to yourself for those bills that are frozen. Eg. If your student loan payment is $900.00 per month and your payments are frozen without penalty for 5 months make the payment to yourself instead of the loan servicer. Why? It will allow you to see exactly how short your finances are; it will allow you to build up $4500 in emergency money for yourself; and, lastly if you need the money to live you can just take it out of your savings and spend it.

3. What expenses should you cut? I have been asked this all week. Do not cut advisory staff like your accountant, business coach, insurance agents. Do not cut insurances. If you cancel your homeowners and your house burns to the ground you will have even bigger problems. Trust me your advisers will work with you. I have put all of my clients on a sliding scale if they need one.

4. Remember many of your expenses are going to go away during the crisis. Your gas bill will be down because you are not driving. Entertainment, Starbucks expense etc. are all gone.

5. FOOD, HEALTH, SHELTER, KEEPING YOUR BUSINESS OPEN ARE THE PRIORITY ORDER of where money should be spent.

The next newsletter will focus on what to do for your business while you are on lock-down.

HERE IS A QUICKIE LIST OF THINGS TO DO AND RESOURCES TO USE NOW

1. Watch my free webinar on CoronaVirus Business Strategies by clicking here to register

2. Watch or listen to motivational pieces and turn off the news. Denis Waitley, Les Brown, Joel Olsteen, Tony Robins, etc.

3. Set up a free and no obligation consultation with me. I have 54 coaches with amazing and different skill-sets that work with me and who can help you. You need a plan. Period!

4. Practice gratitude. When I start getting depressed and anxious over this crisis (I am human too guys) I think about this...What if God-forbid we were thrown into a concentration camp? How would this crisis with me lying by my pool, typing now on the internet, with a full belly, and lots of cool books to read and lot of cool people to help today (yes on Sunday too :) ) as you can see you and I have no problems. Even if you are freaking out because you have no money etc. you have no problems in comparison to being thrown into a concentration camp.

5. If you can really grasp number four above, then socially distant hug, squeeze, help and love your friends families and neighbors.

6. If you want a budget spread sheet to help you with your money email me

7. I am setting up 2nd mastermind group. The first filled to capacity in two hours. This is open to the first five people. If you want to join a mastermind group with me click here to email me. Please include your cell phone number

We will all get through this together. I promise!

Stay safe!

Obsessed with your success,

Paul Inselman

PS: The Coronavirus has proven that working from home if able is the safest place to be. There is also no better time to become a business coach. People are going to be launching new businesses as a result of the crisis and they are going to need our help. I need business coaches. If you know of someone who would make a great business coach, would you forward this link to them? I will pay for all of their training and they can earn $150,000-$250,000 part time. Thank you. Click Here to Watch a Webinar that will explain this special and unique opportunity in full.