Arete Coach Podcast 1095 Executive Coaches Huddle "10 Things To Take Into A Hard Recession"

Arete Coach: The Art & Science of Executive Coaching

Arete Coach Podcast

Business, How To, Entrepreneurship, Education, Management

5 • 1.2K Ratings

🗓️ 10 October 2022

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

This is episode 1095 of the Arete Coach Podcast with Severin Sorensen and his executive coach guests Michele Barry, Ben Griffin, Barry Goldberg, Phil Holberton, and Conor Neill. In this episode, we present a special panel discussion of senior executive coaches that explores how to prepare for a Recession, and specifically, 10 things to take with you into a hard recession. The purpose of putting this episode together was to provide sage counsel for CEOs, business owners and coaches who are coaching other business owners on how to prepare for a probable recession, and one that may indeed be a hard recession.

In the episode, we explore, What is a recession? [1:13]; What Does A Recession Feel Like? [10:38]; What 10 Things Would You Take Into A Hard Recession? [29:07]; Final reflections from panelists [1:13:23]; and lastly, Severin summarizes the session [1:17:50] and ends with a few inspiring quotes to consider. Share this episode with executive coaches, business coaches, leadership coaches, business owners, entrepreneurs, CEOs, Key Executive teams, and anyone wanting to have a headstart in preparing for what looks like more than a portent of stormy weather ahead.

[A disclaimer and warning; in this episode, panelists on the podcast share their deepest insights and past actions they have taken during hard recessions. Several offer their 'to-do' list for preparing for a recession such as securing cash for operations. Listeners are advised to seek their own financial and legal counsel before implementing any suggestions offered in this program.]

The Arete Coach Podcast seeks to explore the art and science of executive coaching. You can find out more about this podcast at aretecoach.io.

This episode was recorded on October 7, 2022 via Zoom Video.

Transcript

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0:00.0	This is the Art of Coach Podcast with Severin Sorpson with a special episode that explores how to
0:05.3	prepare for a recession and specifically 10 things to take with you into a hard recession.
0:12.2	The purpose of putting this episode together was to provide Sage Council for CEOs,
0:17.0	business owners and coaches who are coaching other business owners on how to prepare for a probable
0:23.2	recession and one that may indeed be a hard recession. The session is recorded
0:30.0	on October 7th, 2022 via Zoom video. This is an Art of Coach that could have coaches
0:37.4	Zoom puddle on preparations for a recession. My name is Severin Sorpson and I am the host of
0:42.9	the Art of Coach Podcast and with me today I have special guest Michelle Berry, Ben Griffin,
0:49.4	Barry Goldberg, Phil Hoverton, and Connor Neal. The setup of this conversation is the following.
0:56.7	What I'd like to do is talk first about what we know about recession to the past,
1:03.2	how this recession is different, what's the same, what's different, and then talk about these
1:08.1	things that we might want to take into a recession and then to wrap up. So let's get us started.
1:15.2	What is the recession? The National Bureau of Economic Research in the US has said that
1:20.8	the traditional definition of recession that it's a significant decline in economic
1:25.1	activity that is spread across the economy and lasts more than a few months. Typically it means
1:30.7	two continuous quarters or six months. Now it's not automatic. We did have declining GDP in the US
1:38.4	for the first and second quarter but it was so minimal they decided not to call because they
1:43.2	focused on depth, diffusion, and duration. It is likely as we move forward that recession may be
1:49.3	called and I want to talk to you about some of the ways that we might know this. One of the early
1:54.8	indicated ways is this thing known as the Fed spread. It's a predictive indicator that says
2:00.9	based on the Treasury spreads of say the three, the two, and the five-year spread of Treasuries,
2:08.4	we can tell an indication when they cross over with 10 years there's to be a problem. And then
	...

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