Pass Me A Mirror. It’s Starting To Get Ugly.

Oh. My. Goodness.

This pandemic is starting to bring out some really nasty traits and behaviours in people.

Let me explain…

Firstly, let me tell you, that there are a lot of business people out there who have not planned for hard times.

And a lot of those people are now looking to blame the pandemic for their poor planning and poor management.

A lot of these people have been sailing close to the edge and now the edge is here right beside them and beneath those people.

And those people are starting to behave badly.

I saw one dentist, who just returned from an overseas holiday, only to be placed in 14 day lockdown, and was complaining openly that she had now needed to go cap in hand begging to her lenders because she couldn’t afford the loss of income imposed upon her by the additional two week lockdown.

But yet she could afford the two week vacation just before that?

Sadly her social media photos of her and her European car and the big house that her poor old family is cooped up in are not to be referenced either?

Give me a break…

Sadly, this is the reality

There are a lot of high flyers now living on their credit cards.

The great Dr. Omer Reed told me ten years ago [and I’ve been preaching this fact regularly since then] that in the USA, ninety five percent of dentists reaching age sixty-five cannot afford to retire on the income they were making as a dentist… that means that nineteen of every twenty dentists over there needs to keep working after reaching sixty five to maintain their lifestyle.

And I’m figuring that the figures Down Under are quite similar…

And that is sad.

And so what we are seeing now with these Government enforced restrictions and responsible practicing of social distancing is that most dentists out there do not have the cash reserves in place as a back-up for when times are tough.

And yet we know that Warren Buffett has been sitting on cash for the past two years.

And with the stock market now taking a hit, most people’s portfolios that have been aggressively balanced towards growth equities, well those people are seeing values SLASHED at Wall Street.

Weak underbellies are being exposed

I’m seeing dentists proclaiming on Social media that this COVID-19 has permanently destroyed their lives.

Well, let me let you in on a little secret…

It’s not COVID-19 that’s done it.

It’s themselves who are to blame.

By failing to save up for a rainy day.

Because the rainy day is now here.

We have heard often enough that the market was overheated.

Well in this case the market has retreated now while the health of the human race is at risk.

And yet, nobody wants to take any blame for failing to put some cash away to live on during hard times.

And nobody ALSO wants to take any blame for poor business decisions they’ve made in the past that have now put them under more stress.

Decisions such as not doing their true due diligence on business opportunities and business ventures.

And not seeking legal advice on a rental agreements.

Or overpaying through the nose for a dental office fit out and build?

Or building a new dental practice in a poorly researched location where the decision was based more on emotion rather than fact?

In some cases one poor decision can make life really difficult for a while…

Don’t I know it…. I’ve made a couple of doosies in the past myself.

But sadly, in some other cases, for some people, it’s just one poor decision on top of another and another and another…

Without any time out to look and reflect.

And without seeking professional help and advice either…

Sadly, when these sorts of things happen, people start getting really nasty and resentful of others who have not made similar mistakes.

Some people really get their back up.

And instead of looking for a solution, they look for a time to vent and share their poor little pity.

And chop down anyone who seeks to openly offer help to them.

As if that sort of social “levelling” will miraculously make things better.

My goodness.

These sorts of tales and parables have been told and told and told since the dawn of time.

“Hunker down in the winter”

“Plant in the springtime”

“Reap what you sew in the summer time”

“And prepare for the next winter in the fall [autumn] time”

This is not new.

But it is unwelcome wisdom for those who need the lessons when they have failed to heed previous lessons.

Don’t throw the baby out with the bathwater.

Being in business allows for great opportunity to provide for your family and for your future.

Being in business provides for an opportunity to support your community, with employment opportunities.

But being in business should be a privilege.

An earned privilege.

Being in business should never be considered a right of passage.

It is an opportunity to be cherished.

It should never be taken for granted….

If you’re having trouble, and you want to know why, take a look in the mirror.

That’s where the answers to your questions will be.

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