This time is different: Vidler
Vidler addressed a recent Financial Advice New Zealand webinar, as part of its Bring in the Experts Covid-19 series.
The panel discussed management of adviser businesses during the pandemic.
Vidler said he recommended creating an “Armageddon” budget – pared back to the worst-case scenario so that the business owner could assess what the hard bottom-line numbers were if disaster struck. “What do I need to survive, how do I get back in the game?”
He said that would be firstly about cash management and understanding what costs could not be cut, as well as what revenue was likely to stop completely.
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