The EIDL, FFCRA, PPP, CARES, SBA solutions (Part 13)
A message from Dr. Ziv Simon
April 1, 2020
Hi my friend,
So I listened to all the webinars about my financial options today. The broadcast tomorrow has a segment about financial tactics and I wanted to get educated. At the end I decided not to give advice about something I'm not an expert in. Instead, I think I'll push your mindset in the right direction. Here's the link to register.
It's just when I was getting clear, another attorney or CPA (including my own) added another piece of information that was conflicting with was true yesterday!!!
A couple more days for more clarity and then it's time to take action.
The options for us business owners seem good but even if they are not 100% and we don't get a free lunch here, they will provide us with what we need most right now.
CASH.
That green thing.
As dentists we don't have leverage. If we don't work or our practice is closed - there is no income.
For our businesses to survive until we can open and until patients come in for treatments- we must have oxygen in the form of cash.
So if things seem a bit dark and confusing right now, have a good night sleep. We are all confused including our advisors. By Friday you should have more clarity about your next steps.
You are not the only one who is nervous.
Your employees, your landlord, your bank and your lenders are all a bit anxious
"Silence erodes trust" - Keith Cunningham
So don't be silent.
This says it all. Communicate with clarity and candor. Answer your phone and return calls.
Everybody wants to hear from you. They want to hear that you "got it".
They want to hear that you are working out a plan.
Even if things don't feel like you can even handle them. Even if you don't even know which loan to chose from and when. You are working at it and you are making progress.
You will devise a plan that will bring your business to safe ground. A place of stability that will allow you to rebuild and grow again.
I'm sure you will make it.
Tomorrow I'll be talking about financial tactics at the time of the outbreak. I learned so much from Keith Cunningham over the years that I'll include his teachings there. He expresses himself in the utmost clarity. I recommended his book yesterday, did you buy it?;-).
I'm not a financial advisor and I don't plan to give you financial advice.
My job is to make you move forward. Push you a little.
Help you change your mindset. Help you stay calm, focused and on track.
I won't advise you how to invest your money or give you tax tips.
My job is to tell you: Don't freeze!
Don't ride out this crisis with no plan ,no foresight or a life jacket. It's gonna get rocky out there. I want you to be prepared and I want you in goo d shape to handle this.
You know more than you think.
You have a CPA, a banker and hopefully a financial advisor. Put them to work. They will help you navigate and reach stable ground.
We are all in this together.
Stay strong!
Ziv.
PS:
Tomorrow's broadcast starts at 10:00AM (Pacific). I hope you can join me.
I'll be hosting Dr. Snjezana Pohl from Croatia and together we'll be talking about soft tissue surgery around implants. I'll be presenting two cases where I thought I did good job, but the outcome wasn't ideal. We'll find out why tomorrow.
