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What’s More Important, A Rise In Interest Rates or a Government Shut Down?

September 17, 2015 by Lisa Anderson

DON'T QUIT (1)

I’ve filled my days this week with attending forums and keeping up with industry trends.  Two issues have crept into industry awareness:  1)  the Federal Reserve’s possible increase on interest rates and 2) another potential Federal Government shutdown.

What I’ve found very interesting is the Federal Reserve’s vote on the interest rate seems to be getting more press and hence more focus.  Why is that when they both will have an impact on the economy and thus an impact on everyone?  Nonetheless, the potential Federal Government shut down is not getting much press.

Having had my share of Federal Government contracts, I understand first hand the potential devastating affect another shut down can have.  Some are just now starting to recover from the remnants of the 2013 shut down.  Another shut down could put many out of work and be the end of many businesses.  Silence and ignorance on the issue certainly do not allow for proper preparation.

According to the Bloomberg Government Analysts who spoke at today’s SECAF forum, an Appropriations Bill has not yet been passed and with only nine business days remaining of the current fiscal year, this is not a good thing.  Something must be done before the fiscal year ends in order for the Government to remain operational.

There has been some behind the scenes talk about the Government extending a year long Continuing Resolution (CR).  This would in effect extend the current year’s budget through the end of September 2016.  However, the Analysts believe a year long CR would be worse than sequestration.

It appears instead of resolving the budget issue and executing an Appropriations Bill, our country’s leaders are hiding behind a debate about Planned Parenthood.  REALLY?  What about the livelihood of millions?  From what I understand, no one really wants a shut down, but no one wants to address the real issues.

So what should businesses do?

Wish for the best but prepare for the worse!

Here are a few tips to prepare just in case there is a shut down.

1.  Contact your Contracting Officers.  You want to know whether that Agency and the office you support will be impacted by the shut down, if there will be one.  You also want to know if your contract and services are considered to be essential.  If there is a shut down, only essential services will continue.  Finally, you want to determine how you will be paid if you are considered essential.  Don’t assume because you perform work, you will be paid.  Your contract provisions will need to clearly outline what you are entitled to receive.  The trick here is to communicate BEFORE October 1, 2015.  Remember, if there is a shut down, you won’t be able to communicate with your Contracting Officer until the shut down has been lifted.

2.  Communicate with your employees.  Without causing a panic, inform them of the potential for a shut down and what they can expect.  Inform them of the logistics of a shut down.  Let them know who will be your main point of contact before, during and after a shut down.

3.  Determine the impact a shut down will have on your cashflow and further determine how long your company will be prepared to pay employees.  This is a critical step.  Once mistake can make or break your company.

4.  Communicate with your bankers.  Inform them of the impact a shut down may have on your organization.  Be prepared to communicate what financing contingencies your company will need to get through a shut down.

5.  Engage your Human Resources office to thoroughly understand federal, state and local laws concerning furloughs.  When can a furlough begin?  Who will it impact?  Will furloughed employees be entitled to receive unemployment?

These are just a few things you should consider as you hope for the best but prepare for the worse.  There are other labor and non-labor law related compliance factors you must consider as well.  You can contact me directly by visiting www.AnavoTransformation.com if you need assistance.

 

 Carpe Diem!  Seize the day!

Lisa D. Anderson
Small Business Consultant & Growth Strategist
Anavo Transformation Solutions LLC

Filed Under: Business Tips Tagged With: #anythingispossible, #MyBusinessMyWay, #PurposePassionPower, success

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Plateau to Profits Podcast – iTunes Reviews

  • Next level brilliance
    April 1, 2017 by BrynneTillman from United States

    If you are an entrepreneur and are looking to take your business to the next level, this Podcast is for you!

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    This has become my favorite episode because it helped me see my approach to finding and meeting prospects was wrong which is why I have difficulty closing the sale. No more chasing the wrong prospects! I am going to narrow my focus to three industries and set an agenda for every meeting. I need to get this episode transcribed because it contains so much practical and valuable information.

  • Review for the podcast of Tamara Haskins
    February 21, 2017 by Achillek from United States

    Congratulations! I listened to Tamara's interview today with Lisa Anderson on her podcast over linkedIn. I found it very well presented with and easy to follow. It reminded me of our conversation we had in Tamara's office a few weeks ago. The material was well prepared and the delivery was excellent. The tone of her voice was very appropriate and the language was professional but accessible to the layman. Really Great interview! The moderator was also excellent in that the types of questions she asked of you were very important and tailored to her audience who are small business owners.

    Great work both of you!

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  • Chief Problem Solver, Regeneration Leadership & Business Coaching
    December 3, 2016 by John Haynes III from United States

    Regarding the podcast with Patricia Daniels, How Having a Business Coach Has Moved The Needle On My Business, I wanted to offer the following:

    Very strong interview...discussion between friends and business partners. Lisa, great job, as usual! Another purposeful conversation had for business owners. Pat! Way to stretch out. This was awesome on behalf of the Ryan Odelle Mance Memorial Scholarship Foundation. And to both of you, I really think this episode can be used for MANY other non-profits - or for for-profit businesses as well - who are starting or preparing for the next season of their business. There were many takeaways, but the one that shines bright for me is knowing and remembering your reason why. And I think organizations - whether it's to start their meetings or to begin and end their retreats - can use portions of this podcast to be inspired, remember why they do what they do, and/or to go into an exercise of discovering or reformatting their why. Additionally, I also envision this podcast being the start of strategy session. Good work and great service!

  • Success leaves clues!
    November 4, 2016 by SeeInColors from United States

    When I found Lisa Anderson's podcasts I started with one and never stopped listening. She provides high quality, challenging strategies that move you out of your comfort zone. No fluff, just "straight black coffee" in her words and Its awesome.
    I am inspired and moving forward with her model for business success. Listen to some of the podcasts and you'll see what I mean. Thank you Lisa for all that you do for small and growing businesses.

  • Review for Podcast #5
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    What an abundance of excellent information provided through your Podcast, without which a lot of the public would not know about. Continue the great broadcasts Lisa. Well done!!

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    Your background is impeccable. This sounds like a true gift of the real thing...Black Coffee! I look forward to the podcasts. Thanks!

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