Having written a book about money, The Money Gym, Nicola is finding more and more people are asking her about how it works. She’s speaking soon to two groups of people who may be facing redundancy and shares her No #1 tip for the first few days after it happens.
Clicks And Leads is a “tongue in cheek” digital marketing Vzine by entrepreneur, author, podcaster, speaker, Nicola Cairncross.
On the blog
- Maintaining Business Momentum during Lockdown
- Restarting The Vzine
- Better Business Thinking
- Redundancy Survival Strategies
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Well, welcome back everyone. It’s Nicola here and it’s even hotter this week. Can you believe it? We’ve had to go out and buy fans for the bedroom. That is mental. Never been that hot in England before, I mean it was so hot at night you couldn’t sleep.
Really funny quick story. I was lying in bed last night with the fan going and I had set it to swing round, you know, so that it was blowing, sort of, air in different directions and couldn’t quite get to sleep because there was this little sort of funny little noise. And I thought, is that mice? ‘Cause I know we got mice in the kitchen. Is that mice coming to my bedroom, are the trying to get into my Plastistores under my bed? Yes, I’ve still got some of those from the beginning of the pandemic.
I was thinking, I’ve been discovered by the rodents, I’m in real trouble now. Sat up and I put my glasses on and put the lights on and I sat there for a while, looking to see if the rodents came and I couldn’t see any at all. Laid down, turned the lights out. Flutter, flutter, flutter. Tap, tap, tap.
Finally, I put the light on again and just look straight up above my head. And there’s a picture up there, which I thought was really heavy ’cause it was really big, and it turned out it’s not quite so heavy after all. So what was happening, was every time the fan swung round to a certain point. The air was hitting the wall, bouncing off the wall I think and then going up under behind the picture and making it tap, tap, tap, flutter, flutter, flutter, making me think it was rodents.
Took me two hours to discover that. So anyway, tonight I will sleep like a baby, because I will not only turn the fun to a slightly different direction, but I’ll turn it down a bit and move it away from the bed a bit. Hopefully I’ll get the benefit of the air moving, without the tap, tap, tap, rustle, rustle, rustle, flutter, flutter, flutter, that made me think I was being invaded by an army rodents.
I have been asked to speak at an online event, which is always quite exciting. I really like, always have liked, online events which means you don’t have to travel anywhere. He said “do you think you’ll be all right, “talking to a hundred people?” and I said “yes, I’ve done a thousand in real life, “I think I’ll be fine.” In fact, I really prefer speaking spontaneously and off the cuff, especially when it’s a topic I know a lot about.
He wants me to talk about wealth creation. Well, more specifically, surviving if you’re made redundant and this is the second request I’ve had for this, will you come on our webinar or live event and talk about how to survive redundancy. I think word must’ve gotten around, that I’d been made redundant a few times in my time. Let’s face it, my survival package has improved over the years and it’s getting better and better.
At some point you get to the point where you’re bullet proof against redundancy and that’s when you’ve got your own business. Even before then, there’s lots of things you can do actually, you know, to prepare in case you might be made redundant. More importantly, there’s a lot of things you can do to make sure that you, in that moment of panic, that week, well, days or week of panic, when you just got the news and you don’t know what to do with your finances, then that’s what I’m going to be covering on one of these, on both of these events actually.
One’s women oriented, one’s men orientated. Let’s just say the first things I’m going to be telling them are to cancel all your direct debits, ring up your banks and say, I want to, in fact, don’t even ring them, just go online and cancel all your direct debits and standing orders. Then also tell them that you’ve lost your cards and do that with your credit cards and your debit cards. Now what’s really important about doing this is that you now have control of when the money goes out of your bank account and people are going to squeal, let me tell you that.
Everyone loves taking money out of your bank, on their schedule, not yours, but you now have to stash as much cash as possible. You need to look at every single one of the things that would have been coming out of your bank account and say, is that absolutely necessary? Can I delay that for one month? Can I delay that for three months? Can I stop paying that all together? You know, gym memberships, you know, they’re going to cut up rough with you, gym. They’ve got very, very aggressive followup techniques.You are now in control.
You are in control of what goes out of your bank account and that’s really, really important. You can make good decisions, you know that nothing’s going to go out overnight that means you can’t go and get some money out to get some food the next day. I’ve got a lot more tips where these came from, let me tell you, because it’s happened to me many times. So get control of your money, first off.
Start making good decisions about whether you want to carry on paying something. I’ve got some great recommendations for how to go about searching for your ideal job, which may seem a little bit luxurious in right this red hot second, but why not turn this into an opportunity to go and find the job you really wanted or start that business you’ve always thought of.
A worse place to start would be by reading my book, “The Money Gym”, and also the follow up book about that is how to start your own business and market it online. So if you’ve got the two together, you’d be off to a flying start. And the name of my second book has gone completely out of my head right now. So I’m going to have to look it up. Hold on. It’s “The Business Success Factory”. Look at that, I completely forgot the name of my own book. That’s senility coming on for you. It could just be the heat though, couldn’t it?
Final thing I want to say to you is several people have said to me that they’ve inherited money or that they’ve had an unexpected windfall from someone, they’re thinking of buying property. Please do not do this just yet. Please wait, wait, wait. Although property is flying off the shelves at the moment, my dad’s just sold his bungalow in Worthing in West Sussex at full price because he’s going back to New Zealand for a little while.
It looks like the property market is really, really buoyant, but actually it’s not. It’s going to take a dive soon because we’ve just entered, officially, a recession. We’ve had two straight quarters of our GDP going down. If you don’t know what that is, look it up. It’s not great. I think property prices are going to be starting to come down fairly soon and so do those of my mentors who are multimillionaire property investors. I’ve got two, I’m lucky enough to have two mentors who know their thing around property.
Do not buy if you can avoid it right now. I would carry on renting if that’s what you’re doing, you’ll be able to pick up bargains later. You want to keep as much of your cash liquid and available to you as possible, without locking it up in a property that may go down in value over the next couple of years. Sorry to be all doom and gloom, but at least I’m coming up with survival trustees.
What’s on the podcast this week and what’s going on in my world?
Well, basically I’m about to gear up for the next, my next five day challenge and that starts on Monday the 7th of September. If you want to find out how to create one tiny bit of content every week, effortlessly and easily, it’ll take you less than half an hour then. Then how to leverage that everywhere online, then do come along and join us on the 7th of September, completely free of charge, only five days. It’s fast and furious and great fun. Come along to ClicksAndLeads.com/5days
What’s on the podcast this week?
What’s on the podcast this week is episode 286, knowing your worth. We have got a fabulously confident and outgoing mister guest, called Karen, and she was explaining to us all about how she finds it really difficult to charge properly. We explored all the different reasons why that might be happening to her. We’ve asked her to fit back in the private group, we have a private group for our podcast, so that we can make sure we covered all of the things that we talked about. and that there wasn’t anything we left dangling. If you want to have a listen to the podcast, any time, ownitthepodcast.com/283, and subscribe on your favourite podcast platform and then come and join the private group. Let’s see if we can crack one of your challenges, shall we?
See you in the challenge or on the podcast or in the group or any way you like. I’d love to see any comments underneath. Thank you very much for joining me today.
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