Community Part 1


I walked into a local craft brewery to buy a couple bottles of brew and to show my support. Only the owner was there.

For the record there was no contact, quite a bit of wiping down. I feel much safer there than in the grocery story.

I asked Craig how he was holding up. He said had to lay off all the staff, his business is down 90% and he spent four hours working on appealing unemployment claims that were denied when the employees filed. He was very grateful I came in. I can’t buy much from him. I am only one person.

It remains to be seen what kind of financial support his small business will receive. I know he has a family. He used to be a full time attorney and for several years has put his heart and soul into the brewery.

I miss the employees too. It is a great group of people all enthusiastic, each bringing a passion to the tap room.

This is a bad time to be shut, the spring is when business starts to pick up in normal times after the winter lull. It’s a great spot with great outdoor seating with a great view. It’s always busy. He said today was dead. He didn’t know why. We both hoped it wasn’t because people were starting to get fatigued.

He was very grateful I came in to support his place. You could see it in his eyes. I said I wanted him to know I care.

Community


Encouragement


Another tough word given the time we are living in. I now realize this is not an easy word. Not at all. First off, true encouragement does not come from a cheerleader on the sidelines. It also should never come in the form of false hope. False hope is after all just false hope.

Encouragement is not a pat on the back or a simple nudge to take the next step. I’m thinking that encouragement is more like making an investment in someone. It is not telling someone “things will get better soon” or “it’s not as bad as it seems.”

There is a certain amount of energy that transfers in the act of encouragement. It is this energy that concerns me at this moment. Encouragement is energy. To be honest I feel that level of energy right now inside myself is running low which means I need encouragement as much as others do. And if we all are running low on this energy as I suspect many of us are then where are we going to find it in ourselves to encourage others? How do we encourage each other when we all are running on empty? And if we are running close to empty now how are we going to make it in a crisis that may last for a very long time?

Here is what I’ve come up with, encouragement starts with belief. Belief is the spark that gets the motor running and once the motor is running the energy starts to flow. It is my belief in myself, my belief in you and your belief in me.


Note – In this time of the virus we are all wrestling with the spiritual, physical, mental and the emotional parts of life. We are all at different places in our respective journeys and all of us will look at these words from a different perspective. These are words all have relevance in the spiritual, physical, mental and the emotional.

Meaning


This word might just be harder to understand than completing the New York Times Sunday Crossword Puzzle. I woke up this morning with this sense that I wanted my life to have meaning. I wanted my family and friends to know they have meaning. But what does that mean. Do you see my dilemma?

My mother says she feels hot and I need to figure out what she means. Words have different meanings so we need to figure out in which context those words are used.

I started out thinking about how I wanted to live my life out in a meaningful way. When I looked up the definition of meaning the definitions wandered in and out of nuance. It can be related to intent, purpose or significance, other words to explore.

In this time of trouble many will be unable to provide for their families. Does this diminish their meaning in this world?

The greatest philosophers in this world have wrestled with the concept of meaning. If I had to boil it down to one idea it is this, in order for anyone’s life to have meaning they need at least one other person. That is the start of a life that has meaning.


Valuation Skills Course Invitation


March 25, 2020

Note – At the end of this post there is a course update for April 20, 2020 – Also make sure to download the course syllabus.

If you are a Financial Professional and if you have been looking to learn something new and relevant while we all work through the challenges ahead, I might just have something for you.

Business owners are going through some acute pain right now here in the Pacific Northwest and everywhere else in the United States. I am watching several businesses that have had to shut their doors, lay off employees and adapt to give the business a chance to come back at some point. It is not easy to watch and as a small business owner myself I am also facing the loss of income. We are all facing many unknowns.

Announcing a Valuation Skills Course for Financial Professionals

My partner, Peter Viliesis and I know that Business Owner Planning cannot start without first knowing the Value of the Business. If you the Financial Professional can help your business owner clients and prospects understand the role of valuation and how it can help lead to better decisions then you are going to create more successful outcomes.

But you might not know where to start because you have not spent much time in the discipline of valuation. With that in mind we are in the process of developing a short course for you and we are accelerating the rollout because of current events.

The course will consist of several short instructional videos, a 5 to 10 page printable PDF Guide to Valuation and a homework assignment. We are not charging for this, this is our way of paying it forward. It will enhance the course if you purchase one book for less than $20. It is “What’s Your Business Worth?” – Michael Carter.

At the end of the course you will be able to have a conversation with Business Owners about how knowing the value of their business will help them make better decisions in the pursuit of their goals. You will also be able to get them started on the road to better planning.

More information will be sent to you when you sign up. The syllabus is below. Let’s stay in touch. Complete the information below and then look for the course login information in your inbox.

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Course Update – April 20, 2020

The course is taking on a life of its own and material will be added beyond the scope of what we originally planned. This has given us a chance to learn better how to communicate the content better. It will continue to be delivered in short lessons so you can more easily digest it.

In addition to the lessons there is now a Resource Page.

Some of the course material will be created in response to questions and observations in your feedback to us. This makes the course better. Thank you to those who have already participated in this way.

Peter and I have been asked if we do joint work and the answer is yes. We believe Partnership is the best way to deliver the solutions to business owners, now more than ever.

Fatigue


Fatigue makes cowards of us all.” – This quote is attributed to General Patton and Vince Lombardi. It doesn’t really matter who it came from. In one of our more thoughtful moments I passed this on to Paul to encourage him to get the rest that he needed and so that he might recognize the source of some of his fears while he faced treatment and uncertainty. You might need to sort through the logic for yourself.

The point is, fatigue can amplify problems, make them seem worse than they are and it can heighten fears. In no way should it ever be suggested that the problems are not there. To understand the role fatigue plays in how we perceive the here and now is important.

Understanding fatigue also can give us permission to rest, even in the middle of the day when we think we should be doing something. When we are rested better decisions will result and we are less likely to be frozen by fear.

One final note, there are individuals out there today who cannot get the rest they need. I’m thinking of all of those on the front lines of getting ahead of the virus. All we can do is encourage them as they run the race and in a small way it might offset the effects of fatigue for them.


Learning


Why post about learning when there is already a post here about education? I suppose there is some subtle overlap yet when you drill down it’s helpful to think about how one might go about learning. One definition is this, “to gain or acquire knowledge of or skill in (something) by study, experience, or being taught.”

Two things jump out at me. The first is that when you learn you can acquire knowledge and/or skill. Knowledge and skills are different. If you want to do something you must not only have knowledge, you need the skills to do it. It is perfectly fine to gain knowledge about something without ever aspiring to have skills in something. This is worth understanding. The important point is, if you want to have skills in something you need to learn it and do it.

Secondly, in the definition is how someone learns. We learn by study, experience or by being taught. If someone truly wants to learn something all three methods need to be employed, especially if the end goal is to learn a skill.

Here are a few things to consider when you set out to learn something. Are you learning for knowledge only or are you also looking to acquire a skill. When you have it set in your head what you want the end result to be then you will want to determine how you are going to study, who is going to teach you and where you can get the experience.

Once you learn a skill then you will be just at the start of your journey in the pursuit of the perfection of that skill or at least to the level you set for yourself in your original goal.


Vulnerability


This post is for family, it is for business owners, it is for financial professionals. Being vulnerable, I believe, is something we all need to be during and after this present time.

Brené Brown says it best and as of today, March 24, 2020 this TED Talk has had more than 12 and a half million views.


Financial Professionals – Encouragement and a Challenge


I would like to offer a word of encouragement to all Financial Professionals. I also want to offer a word of challenge.

If there was a way to measure the amount of fear in the world it probably would register at all time high levels. Most people I am talking to are a combination of numb and scared. As financial professionals many of us are in the same boat. So much is uncertain because of the combination of not knowing how severe the health and financial impacts will be along with the unknown length of time this will last.

At the other end of all of this we all need to be at our best because our clients will need us to be better than we ever have been. So I want to encourage you take advantage of this moment. Most of us will have some extra time to make yourself better and plan for what you will be doing to help people recover. If your skills and knowledge have getting a little stale now is the time to sharpen the blade. If you’ve been meaning to learn something new now is the time to add to your knowledge, really learn it!

Think about what your clients will need coming out of this. Everyone of us must be different and better because everything has changed. Our message needs to change, our process needs to change and our vulnerability needs to change.

Okay I know that wasn’t much of an encouragement in the way we typically think. But it’s all I have right now.

Here is the challenge. Since people and businesses are going to need us at our best we are going to need to identify the professionals around us who are really good at something we are not. The solutions will come from Teams/Partnerships of financial professionals. We can’t fake it. This is our time to fix what has been broken in financial services. 

So figure out the range of services and products you want to offer and then build that team in anticipation of what will be needed to help people as we emerge from this crisis. Our clients are going to be different. Will we be different in the way they need us to be different?


Decisions


This is a tough word and originally it was not on my list of words to ponder, a list now grown to more than thirty and a list that will surely grow. We are all being forced to make decisions that are way more important than what we typically encounter. It seems like we have them in a pile in front of us and it is a bit overwhelming.

We can put off these decisions because that will only make things worse. Here are a few thoughts.

  • We are not alone, everyone in the world right now is having to make decisions.
  • We can’t make all of the decisions all at the same time.
  • Identify the most important decisions you have to make and put them in a category by themselves.
  • If you are stuck make one easy decision to get you going.
  • If you have to assign a number to each important decision and then randomly pick one.
  • Make your decision and act on it. You will know soon enough if it was the right thing to do. Taking action has some therapeutic value in itself.

In the book “The One Thing” a book I gave to Paul and he used it with the staff at Northwest Covenant Church, there is one central question in the book. This might help you in making decisions.

Remember, everyone is in the same boat right now. We are all making decisions. This is where I feel a ton of empathy for so many people right now, knowing that they are faced with some very tough decisions. We will be stronger when we start making them.


A Message to Business Owners

May 23, 2020


There are no answers to be found here today. Just about every business owner on the planet is going to have to wait for answers due to all of the uncertainty created by Covid-19. We are all at least a little scared. We are concerned for our family, our employees, our partners and our customers. We know people are going to get hurt and may never recover physically, mentally and financially. 

We are in this together and we hope there will be a time when the virus is behind us and we can start on the work of rebuilding and recovery.

But right now we know there are businesses that are closing their doors, laying off workers and it is causing incredible emotional pain. People are losing their jobs, income, insurance, homes and security. More emotional pain. It would be unhealthy to deny this right now. Nothing is normal.

While we cannot solve the immediate pain we can do our best AND we can start to prepare for our collective rebuilding. This is what I will be focusing on for maybe the rest of my life. Whoever we are today I know we must be better tomorrow. We must be the best that we can be. This is our time. If we step up, perhaps those that come after us will consider us to be another “Greatest Generation.”