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Eliminate all superfluous expense

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Eliminate all superfluous expense


The time will come to invest again» Posted on 04/21/2020 by Luis Bassat financefinancial management From a professional point of view. I believe that first of all we must reflect and check if our short and medium-term objectives are going to be achieved. If not. We have to rewrite them taking into account the new reality. Difficult times are coming. Very difficult. And the income of our companies will be reduced. With some exceptions. Such as pharmaceuticals and food. But if we are not in these two sectors we have to try to balance those lower incomes with lower expenses. I have never been interested in saving. Whenever I have been able.

I have invested what I had for the benefit of the long-term future. But now the conditions are exceptional and for the first time in my life. I believe that liquid money must be available. The coronavirus will not last long. I hope. But the economic crisis surely will. So you have to be prepared and this implies having reserves . I don’t recognize myself saying this. But it’s what I firmly believe now. So eliminate all superfluous spending. And even everything that is not absolutely necessary. The time will come to invest again.And when we leave home?

Osborne financefinancial management

Ignacio Osborne – And when we leave home? In these days of a lot of work for those of us who have to carry out companies and institutions. I am concerned about the enormous amount of information that reaches us. It is difficult to know how to distinguish between the one who dogmatizes without having a clue. The one who plays at futurology and then says my hated phrase “I already said so”. The one who lies to save his skin or his interests. Or those who are really giving us the right information to help get through this catastrophic situation. Our thinking in this situation. At least mine. Goes towards people . First. The health of my family. Friends.

Company colleagues. Of all those who are working on the front line (Hospitals. Carriers. Distribution. Pharmacies. And a long etcetera). Second. The socioeconomic situation that we will have after this terrible pandemic. The only entity in society that creates employment and wealth is the company. No other But those of us in positions of responsibility have the obligation to think a little further . In the future of those same people who concern us and of Spain. Politicians. As has been shown these days. Are not used to making management decisions. And even less so in an agile way. Those who have ever managed an income statement can be counted on the fingers of one hand.

I don’t criticize them vehemently

I don’t think they do it wrong to annoy (at least most of them). It’s that they haven’t done it. I would say almost never. Therefore. We entrepreneurs must take the initiative . I’m sorry. But even if it’s hard. We can’t “stay home”. I am referring to staying at home from the point of view of economic activity. Each one of us. In our sector. Must put all our efforts so that our companies remain active. The steps to take are not easy. The proof is how different they have been in each country. From a health point of view. Due to the results of infections and deaths. It does not seem that those taken by Spain have been the best. Spain is a great country and we must make an effort to prepare ourselves today so that we can overcome the economic crisis that is coming our way as soon as possible.


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