“If an economic disruption leaves you without income for six months in a given country, would you and your family still be secure?”
When a government is in dire need of funds and employs a “siege” strategy—extracting money from every direction, every person, and by any means necessary—it is the middle class (especially minorities) that is most vulnerable and truly in a precarious position. They are “too visible to hide, too vulnerable to fight.” This stands in stark contrast to the wealthy, who are financially independent and possess the options and resources to move themselves, their families, and their assets abroad, as well as the lower class, who receive various forms of government aid and relief.
HOWEVER, as the law of life dictates, nothing is absolutely good or bad; there is always a “blessing in disguise”—an opportunity that the prepared can seize, yet one that remains hidden from the naive.
UNDERSTAND AND MITIGATE these 4 types of risks:
1. Regulatory changes
2. Taxes & liquidity
3. Social crises
4. Reliance on a single income source
As the saying goes, “We cannot change the direction of the wind, but we can adjust the sails of our ship.”
Therefore, prepare your mindset and skillset to manage crises—and even economic or social disasters—so that instead of harming you, they can actually propel you to become greater and more prosperous than before.
Johanes Lim, PhD, CPC, CHt (林泰義)
Financial Doctor and Turnaround Specialist for Family Businesses and The BOD Forum Across ASEAN
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