Coaching for Leaders 467: The Fiscal Realities of Crisis, with Andrew Carroll
May 2, 2020
In a compelling discussion, Andrew Carroll, a seasoned CPA and consultant at CFOAndrew, shares his expertise on navigating financial crises. He highlights the crucial difference between deferred and lost demand, guiding leaders in strategic planning. Carroll emphasizes that hedging is vital for protecting assets, not just saving businesses. He also sheds light on essential governmental programs like the Emergency Sick Pay and Economic Injury Disaster Loan, providing practical insights for leaders to enhance their financial literacy and make informed decisions.
AI Snips
Chapters
Books
Transcript
Episode notes
Pause and Plan
- Pause and think about what's happening and how it might play out.
- Plan for different scenarios and how your business might need to respond.
Counterintuitive Leadership
- The best leaders are calm when others panic, and agitated when others are complacent.
- Gather facts, analyze costs and benefits, and weigh risks to make rational decisions with incomplete information.
Powell's 40-70 Rule
- Effective leaders make decisions when they have 40-70% of the information.
- Waiting for more information can lead to missed opportunities.
