Here is a note that we sent to Sequoia founders and CEOs today to provide guidance on how to ensure the health of their business while dealing with potential business consequences of the spreading effects of the coronavirus.Dear Founders & CEOs,Coronavirus is the black swan of 2020. Some of you (and some of us) have already been personally impacted by the virus. We know the stress you are under and are here to help. With lives at risk, we hope that conditions improve as quickly as possible. In the interim, we should brace ourselves for turbulence and have a prepared mindset for the scenarios that may play out.All of you have been inundated by suggestions for precautions to take around COVID-19 to protect the health and welfare of you, your employees, and your families. Like many, we have studied the available information and would be happy to share our point of view — please let us know if that is of interest. This note is about something else: ensuring the health of your business while dealing with potential business consequences of the spreading effects of the virus.Unfortunately, because of Sequoia’s presence in many regions around the world, we are gaining first-hand knowledge of coronavirus’ effects on global business. As with all crises, there are some businesses that stand to benefit. However, many companies in frontline countries are facing challenges as a result of the virus outbreak, including:Drop in business activity. Some companies have seen their growth rates drop sharply between December and February. Several companies that were on track are now at risk of missing their Q1–2020 plans as the effects of the virus ripple wider.Supply chain disruptions. The unprecedented lockdown in China is directly impacting global supply chains. Hardware, direct-to-consumer, and retailing companies may need to find alternative suppliers. Pure software companies are less exposed to supply chain disruptions, but remain at risk due to cascading economic effects.Curtailment of travel and canceled meetings. Many companies have banned all “non-essential” travel and some have banned all international travel. While travel companies are directly impacted, all companies that depend on in-person meetings to conduct sales, business development, or partnership discussions are being affected.It will take considerable time — perhaps several quarters — before we can be confident that the virus has been contained. It will take even longer for the global economy to recover its footing. Some of you may experience softening demand; some of you may face supply challenges. While The Fed and other central banks can cut interest rates, monetary policy may prove a blunt tool in alleviating the economic ramifications of a global health crisis.We suggest you question every assumption about your business, including:Cash runway. Do you really have as much runway as you think? Could you withstand a few poor quarters if the economy sputters? Have you made contingency plans? Where could you trim expenses without fundamentally hurting the business? Ask these questions now to avoid potentially painful future consequences.Fundraising. Private financings could soften significantly, as happened in 2001 and 2009. What would you do if fundraising on attractive terms proves difficult in 2020 and 2021? Could you turn a challenging situation into an opportunity to set yourself up for enduring success? Many of the most iconic companies were forged and shaped during difficult times. We partnered with Cisco shortly after Black Monday in 1987. Google and PayPal soldiered through the aftermath of the dot-com bust. More recently, Airbnb, Square, and Stripe were founded in the midst of the Global Financial Crisis. Constraints focus the mind and provide fertile ground for creativity.Sales forecasts. Even if you don’t see any direct or immediate exposure for your company, anticipate that your customers may revise their spending habits. Deals that seemed certain may not close. The key is to not be caught flat-footed.Marketing. With softening sales, you might find that your customer lifetime values have declined, in turn suggesting the need to rein in customer acquisition spending to maintain consistent returns on marketing spending. With greater economic and fundraising uncertainty, you might even want to consider raising the bar on ROI for marketing spend.Headcount. Given all of the above stress points on your finances, this might be a time to evaluate critically whether you can do more with less and raise productivity.Capital spending. Until you have charted a course to financial independence, examine whether your capital spending plans are sensible in a more uncertain environment. Perhaps there is no reason to change plans and, for all you know, changing circumstances may even present opportunities to accelerate. But these are decisions that should be deliberate.Having weathered every business downturn for nearly fifty years, we’ve learned an important lesson — nobody ever regrets making fast and decisive adjustments to changing circumstances. In downturns, revenue and cash levels always fall faster than expenses. In some ways, business mirrors biology. As Darwin surmised, those who survive “are not the strongest or the most intelligent, but the most adaptable to change.”A distinctive feature of enduring companies is the way their leaders react to moments like these. Your employees are all aware of COVID-19 and are wondering how you will react and what it means for them. False optimism can easily lead you astray and prevent you from making contingency plans or taking bold action. Avoid this trap by being clinically realistic and acting decisively as circumstances change. Demonstrate the leadership your team needs during this stressful time.Here is some perspective from our partner Alfred Lin, who lived through another black swan moment as an operating executive:“I was serving as the COO/CFO of Zappos when I was summoned to Sequoia’s office for the infamous R.I.P. Good Times presentation in 2008, prior to the financial crisis. We didn’t know then, just like we don’t know now, how long or how sharp or shallow of a downturn we will face. What I can confirm is that the presentation made our team and our business stronger. Zappos emerged from the financial crisis ready to seize on opportunities after our competitors had been battered and bruised.”Stay healthy, keep your company healthy, and put a dent in the world.https://medium.com/sequoia-capital/coronavirus-the-black-swan-of-2020-7c72bdeb9753?fbclid=IwAR3u360opUDYKeQUQ0F6KmO-GI-8J8XuWKQuWfQsUPrIwfdinOTKKz_tWZw
Today I spent one day with 200 of managers of the best Bulgarian companies to discuss about people management and motivation. It was a very interesting day and had to know some really impressive people. The slides of my presentation are attachedMy Bulgarian friends can also follow me on my bulgarian FB page https://www.facebook.com/PaoloRuggeriOsmBulgaria/ Paolo Ruggeri
Yesterday I have been in Chepelere at Amer Sports, one of the best ski manufacturing company in Europe and I have worked with the managers on the topic of People Management. The strategies I have advised: 1) Learn to get out of the comfort zone2) Categorize well your people: know where they stand at 3) An umproductive employee is like a locked door: consider yourself the cause and do not blame 4) Understand and use praise 5) Involve people 6) Care about them: they are human being and not just employees. The slides of my presentation are attached.Paolo Ruggeri
Are you being the cause or the effect of your problems? This App offers you the right strategies that will allow you to create a strong and positive change in your personal life and in your professional activity! Identify the most common mistakes which have made you fail to achieve personal success and take the right actions in order to make your dreams come true! The key to success, to reach abundance and to become a champion in whatever activity you have chosen is in your hands! A special APP that allows you to train and improve wherever you are and whenever you want. See your prosperity increase, see the people around you begin to smile, to be happy and to win and regain something that previously no one has considered important: yourself!Put your brain on your goals and change the way you see Business!Just connect to your preferred store and download it.For ANDROID click here: https://play.google.com/store/apps/details?id=com.dieffetech.osmesteroFor IOS click here: https://apps.apple.com/it/app/business-class-osm/id1477463552
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It is many years now I am invited for speeches, events and trainings in Bulgaria. Over the years I have trained many managers and entrepreneurs from the best companies in that country.
I have therefore decided to publish and manage a professional page in that language. Dedicated to all my Bulgarian friends, for all the love and support they have demonstrated over the years.
https://www.facebook.com/PaoloRuggeriOsmBulgaria/?__tn__=HH-R
There are people that, according to some situations, can cause us anger, frustration, anxiety, that can make us believe that it is impossible to achieve our goals. But how can we defend ourselves from dangerous people that could be defined as "energy vampires"? How can we feel free from their oppressive presence in order to create an environment of peace in our life and to regain our vital enthusiasm? Simple and fast to read, this book is a brief guide full of practical cases and concrete tips which will help you identify negative people, neutralize them, handle at best difficult people that you cannot avoid in order to feel free from stress and improve the quality of your life.For orders click here: https://www.amazon.com/dp/8885430473/ref=cm_sw_r_cp_api_i_uW1TDb5JQHXMM
This book offers practical tips on how to stop merely existing, and how to achieve a highly satisfying life. Paolo Ruggeri, a successful coach, explains the basic rules for personal and professional success. Understand how to go from a life that is "good enough" to one of abundance, and discover many interesting ideas for YOUR PERSONAL IMPROVEMENT.The "good enough" culture is so deeply rooted in society that it has managed to steal something that has always belonged to us: our dreams. This book is not about making life more bearable, it's about living with abundance and building the life you've always dreamed of.For orders click here: https://www.amazon.com/dp/8885430422/ref=cm_sw_r_cp_api_i_gX1TDb54TZDBC
Paolo Ruggeri is the author of several books dealing with company and people management. To get you started on your path to self-transformation, we have decided to translate in Spanish 7 of our most important materials:1. The New Leaders, a Leadership Manual for the Third Millenium Manager: second edition, in Spanish.
2. The Ten Rules of Success, a short impactful book that will teach you the ten rules meant to revolutionize your ideas and relationships with others so as to achieve greater results. Translated in Spanish.
3. The Ethics of Excellence, a book on moral principles that make a difference not only in the personal life, but also at work. Now available in Spanish.
4. Learn How to Delegate in 1 Hour: delegation can be hard, but it can also free up a lot of time if you learn the rules of how to delegate effectively. Now the Spanish version.
5. Toxic People: learning to recognize the people who can make your life and work miserable. Translated in Spanish.
6. How to Make Your First Million Dollar: 13 strategies that will help managers and business owners to change the profitability of their business. Now the Spanish edition.
7. Time is not infinite: learning how to use your time in a better way so as to become more productive with less work! Translated in Spanish.
Find out how to make a difference in your company and in your life! To inquire about Paolo's books or to order them click here https://www.paoloruggeri.net/buy-paolo-ruggeri-books.asp
Our world is full of stories that have not been written yet, discoveries that have not been made and business ideas that have not been shared because motivated entrepreneurs, surrounded by negative collaborators have not been able to materialize their dreams.It's time you learnt how to identify and how to deal with these negative people that can make our life and work miserable.Toxic People, now available in Bulgarian!For orders, click here: https://event.gg/13481/?fbclid=IwAR3IPNIxtHZu07Uce-t4wEGxbp4BqYAB6wniOgaMtJcI75l4LAle9zR19WY
Yesterday I delivered a special Leadership Training in Sofia. Many people attending. The seminar was divided in three steps: a) The steps to become a leader; b) Building a Group and c) Expanding one's area of influence.The slides of the presentation are attached
Paolo Ruggeri
Today I have delivered a presentation in Sofia to a large group of managers regarding how to build a successful and prosperous company. As usual it was fun to exchange ideas with the local business owners. Bulgarian entrepreneurs are hard workers and responsibile managers. If they improve in people management they have got it made!The slides of my presentation are attached. Paolo Ruggeri
Yesterday in Budapest, Hungary, I was a guest of Bul Med Hungary a company that sells devices for the beauty industry. I delivered a one day presentation on the eight strategies held in common by European companies that make a lot of profit. The slides of my presentation are attached. Next presentation in Budapest will be July 30th, 2019Paolo Ruggeri
Today, in front of a group of 100 lawyers and accountants I delivered a presentation on how to build a successful professional service firm. The next presentation will be the Leadership Training on the 7th and 8th of JuneThe slides of the presentation are attached Paolo A Ruggeri
To order your copy of HOW TO MAKE YOUR FIRST MILLION MANUAL, go to https://www.paoloruggeri.net/buy-paolo-ruggeri-books.asp Paolo Ruggeri
Yesterday in Sofia I delivered a presentation to a group of Eastern European managers and business owners of Small and Mid Size Entreprises. The slides of my presentation are attached Paolo Ruggeri
