Episode 58 Transcript

Welcome to Episode 58 of the Business in
Morocco Podcast today we are going to be
talking about the issue that has
captured the attention of the entire
world
the Coronavirus 19 and as you can see
from this video we are practicing good
habits of social distancing and remote
working Ryan how you doing what's going
on I'm doing well good to see you man
even though we're only a kilometer 2
apart this has become typical I had a
Skype meeting yesterday as well the same
thing with two guys that pretty much
live in my neighborhood but yeah we're
just following the protocol and and
doing a lot of stuff remotely I'm home
with my family might hear a kid come in
to my office here there they're all
doing their their home schooling my wife
is here as well so we're on lockdown but
staying positive and making the most of
it yeah I think a good positive attitude
during this time is helpful especially
you know as we've talked about in this
podcast you've mentioned it many times
focus on what you can control we cannot
control the spread of this virus we
cannot control who lives and dies but we
can control the way we think about it
you know we can control how we spend our
time what we focus on and you know
personally you know I have a hope that
is like greater than this world so I'm
kind of you know affirming that reading
the Bible really shoring up faith in God
during this time because it really is a
global catastrophe that that honestly
not at like our generation and my
parents generation have seen really
nothing like this I think the really the
the closest thing would have been world
or to was the last time that there was
really like a global catastrophe that
that the whole world was participating
in and so this is very new but it's good
to keep keep your stress down because
stress leads to immune system
vulnerability and poor health so I think
it's good to stay focused on on the
things that you can't control we can do
this podcast it's different but we can
continue it as a habit and I think it's
good to try to maintain as many of the
habits as you can during your life just
for your own sanity
but also to reduce stress but for me
this virus has pretty much shut down
everything I mean I've spent this week
sort of helping my clients manage their
online presence and communicate what
their are doing in their businesses for
example having limited open hours -
right now all of them are closed like I
clients dentists doctors lawyers schools
business consultants retail stores I
mean my entire my entire repertoire of
clients they are all shut down the
English class that I had going on here
and I was it's really you know it is
what it is but I was really on the cusp
of signing some some new deals and doing
some some new initiatives in fact I
heard a new employee to start on Monday
and he's not going to be coming yeah and
so that's tough because he quit his
other job
yeah it's it's one thing to have a set
contract just put on hold you know like
a client that you've already signed or
something that's already been been
negotiated and it's in the works but to
have something that was close
that was almost gonna happen I had a few
things like this as well where I've put
in proposals the proposals being looked
at but then now what's gonna happen you
know when when sort of the dust settles
and we we move back to normal life again
is that even going to be on the table
anymore it really is difficult to to see
those almost projects fall by the
wayside yeah it really is something to
think about and it's something that I'm
really spending a lot of time thinking
about is is risk management what are
going to be the impacts of this virus
culturally economically politically
socially and and how can I position
myself for the future the variety of
outcomes that could be happening in the
future now we know that Morocco is is
not in the same place as China or Italy
certainly it's sort of delayed so if we
expect the same types of things to
happen in Morocco as happened in Italy
or in Europe then it's going to be a
really tough like three to six to nine
months ahead but as everyone knows who
listened to the podcast and is in
Morocco things are very different than
they were just a few days ago in terms
of schools restaurants cafes hammams
entertainment venues all shut down so I
think that's going to slow the spread of
the virus but as long as all that stuff
stays shut down the economy is going to
take a very big hit
and people are gonna lose jobs you know
there's people aren't taking taxis
everyone's gonna start losing revenue of
course you know we're losing revenue my
clients are shutting down so really
thinking about how to spend time during
this this quarantine to position us for
the future do you have some ideas about
that how best to spend time during this
quarantine yeah so as you said we we
need to focus on what we can control so
where we go to may not really be a
choice that we have we you know I don't
think it's been been mandated like some
of the other nations that I've read
about where you can be fined for leaving
your home or you can get into trouble
for non-essential travel at this point
if I go for a walk around my
neighborhood I'm not gonna be in trouble
with the police so I do still have some
options though there's not as many
places to go there's nowhere open to go
and enjoy so in many ways I am obligated
to be at home and most of us are facing
that maybe for the first time in our
lives so that's not something we get to
choose but what we do at home is
something that we choose and I think
this could be weeks maybe longer and
coming out of that this season this sort
of forced upon us staycation or time at
home we could come out of it having you
know lazed around the house eating
unhealthy foods and just watched screens
and kind of scrolled social media
endlessly or binge watched series on
Netflix or we could come out in a better
position than we went in in in some
areas of our lives so take for example
exercise there's some people who had a
habit of going to the gym or of playing
on a football team and those habits will
need to be adjusted it's going to be
much more difficult because they don't
have the equipment or they don't have
the sports teams or maybe not the space
we have a lot of listeners that
I live in apartments and don't have as
much room to move around but there are
still ways that you can build healthy
habits to exercise you know - all you
need is your body and you can do a lot
of things to increase your flexibility
to get your heart rate up to work on
your cardio you can do that just with
the floor you know so developing some
healthy exercise habits will be huge not
just to keep your body healthy but your
mind as well you know if you get into
this downward spiral of not really
moving all day long not getting a lot of
sunshine or a lot of fresh air you feel
lethargic you end up staying up really
late
you don't sleep deeply you lose energy
and you just end up lazing around
watching screens whereas you could be in
a positive spiral which is yeah you you
release positive endorphins through
through exercise through sweating and
then you sleep deeper you you will get
tired and go to sleep at night you wake
up earlier just this positive spiral
that can help you be more productive and
use this time well yeah I think one of
the things I read was one of the reasons
that there are these outbreaks on these
cruise ships is that they are they
recycle the air that goes through these
Kunz cruise ships and one of the things
that kills these viruses is sunlight and
fresh air and they've actually known
this for for like a hundred years that
that sunlight and fresh air isn't an
antiviral it is actually helps with
recovery of patients and fighting
infection so absolutely essential to get
out every day of course don't go out
near people but go out every day get
sunlight get the vitamin D in your
system you know get or move around
because like you said sleeping is
essential for good health some of the
other things I think is if you're a
smoker you just have to stop smoking
just stop smoking you are the target of
this virus people with respiratory
problems people with a history of
smoking in fact that is the number one
type of person that's died in China was
older men who smoked they had almost a
10% fatality rate and it was one of
their own choices that really led them
to be at such high risk so if you are a
person who smokes stop doing it yeah
hopefully that's one of the positive
things that comes out of this I know
there's a lot of people who kind of want
to quit smoking but they don't really
have a lot of motivation it's just so
convenient it's habitual but now when
it's difficult to leave your house and
with the added fear and immediate
consequences of making you vulnerable to
the virus that could provide that that
push or that that motivation that you
need to start curbing this bad habit
yeah absolutely
this should push us all to better habits
like washing your hands more often not
sharing water glasses I mean I cannot
count the number of doctors offices that
I've walked into where there is a
pitcher of water and one glass for
everyone to share I mean that is insane
that is how you pass germs and viruses
that's how you get sick and so improve
sanitation habits washing your hands
using hand sanitizer those are there's
essential for going forward also staying
hydrated reducing your sugar intake now
with all the cafes that are closed like
drink more water less coffee filled with
or tea filled with sugar viruses feed
off of sugar so you're not helping your
situation if if you're sick and you're
in taking a lot of sugar you're actually
making the situation worse taking
vitamin C out of other so supplements
having a good balanced diet this is
these are the things that are going to
make you healthy you know staying away
from processed foods the good news is
like I walked to work today
and I did social distancing but you know
there the food vendors they're out there
okay so the fresh fruits and vegetables
that stuff is going to keep growing
they're gonna keep picking it out of the
ground when it's ready and they're gonna
keep selling it like they're it's just
not going to stop so eat fresh as much
as possible just don't shake hands and
give hugs to the fruit and veggie
vendors right that's right yeah we're
very fortunate that we have so much
agriculture in this country it's not a
huge fear going forward no matter how
long this lasts we have the capacity to
produce a ton of fresh fruit and
vegetables all year long so we're very
very fortunate that way these are a lot
of physical things there's also you can
think about your your mental game your
life
upstairs your mind this is an
opportunity I see to develop yourself
mentally so that might be simple as just
reading more all of us probably have a
stack of books or a book here and there
that we've we'd love to spend more time
reading we know it would really benefit
us but when life is going on as usual
we're busy we're we're active we're
working and so we don't always have time
to sit down and read a book now we have
extra time and we can invest in
ourselves that way but then also it's a
chance to upskill you know like when our
work we're often meeting with clients or
say for example I'm often delivering
workshops I'm often sharing the
knowledge that I have with others now is
a chance for me to invest in myself or
to increase my personal knowledge by
learning things online courses there's a
few courses that I can certify in
through my company Franklin Covey and
all it takes is is me to sit down and do
it it's available through the internet I
can I can access all these courses and
go through
the training online but in my normal
day-to-day work week I don't always have
the space in my schedule to spend hours
and hours upskilling and now is my
chance it's an opportunity for me to
really gain these these extra
qualifications which will help me going
forward completely agree I'm doing the
same thing because in my mindset I don't
know how long this whole thing is going
to last I don't know how long the virus
is going to be around I don't know how
long schools are going to be shut my own
sense and we talked about this before we
started recording at least through the
end of April if not through the end of
Ramadan you know you could have things
shut down I don't think anyone would be
surprised if they just said look the
rest of the school year is canceled and
we'll see we'll open up again in
September I don't think anyone be
surprised with that unfortunately
everybody who has kids that that go to
school and relies on the school to
essentially babysit them that is going
to have a negative consequences for them
going to work especially if you have
both parents that are working and maybe
they don't have a house helper or a
relative in the area so that can be
difficult but my mindset is this could
last a long time so let me develop some
new habits and new skills for the future
in some areas that I have high
confidence will be valued so that we're
well positioned when you know the
economy rebounds and people start doing
business deals again and one of the
things I've started doing is it's a
website called double dot IO and put all
these recommendations in the show notes
but what it is it's a platform where
people can build websites and other
applications without a coding background
now now there is some coding involved in
the sense that you have to build the app
you have to put the pieces together in
order to create it what you want but
it's not like traditional coding where
you're literally typing out lines of
code on the backend in HTML or or Ruby
on Rails or any of those things it's
more of like drag-and-drop and move
around and you can you can build apps
through this so I'm learning this
software and my goal is by September to
be highly proficient in this software
and be able to build apps out of it some
of the other things that people can
think about is I think I've mentioned
this in the past but code academy.com is
a place where you can go and learn to
code for free and the great thing about
coding is you could do it by yourself in
your office you don't need to talk to
anyone you just need a computer and an
internet connection and you're ready to
go so even if this virus stays around
for a long time coding is going to be
necessary is still gonna be necessary is
still going to be valued and you can do
it from remote location the other one is
called a one-month comm where you can
learn a specific programming language
called Ruby on Rails so I highly
recommend that our listeners really
pursue this time to like you set up
skill and really do what you can to put
yourself in a good position when the
economy recovers yeah yeah that's good
that's really good I think one one thing
that will really help when when there's
a lot of time on our hands sometimes we
end up being less productive than when
we're really in a routine and when we're
really focused and busy so even though
there might be large empty spaces of
time in your day or even in your week
you know I'm thinking about a lot of the
students that have classes completely
cancelled you know I'm sure their
teachers are still giving assignments
but a big part of their time is spent
commuting going to school
a little sitting and listening to
lectures as well as doing their
assignments now they're gonna have a lot
of extra space in their schedule
something that can be really helpful is
making your own schedule even if you
schedule in lots of space for you know
watching a movie or taking a nap you you
really enjoy this season to to be
refreshed you can still have a few
priorities each day in some of the areas
that we've talked about so we've
mentioned our spiritual lives even
though a lot of our listeners will be
Muslim and they'll be missing being able
to go to the mosque and pray hey God can
hear us from anywhere he's not limited
by the coronavirus we can talk to him
connect with him from anywhere in the
world so you can still be connecting
with God through prayer reading
scriptures you know Ryan and I both
spend time reading the Bible these are
ways you can be growing spiritually then
there can be exercise like we've talked
about and good health practices
physically getting good sleep trying to
keep your rhythm one of the traps people
can fall into is kind of becoming
nocturnal you know this used to be a
problem for me when I was when I was a
lot younger didn't have kids and more of
a family routine is that when I had
vacations or exam breaks and things I
would end up staying up late and then
sleeping in and overtime I would just
slowly shift my schedule to be pretty
much nocturnal which goes against our
natural body rhythms and is is unhealthy
so trying to have a good healthy sleep
schedule and then as we've said these
tips about productivity mentally so
upskilling reading more continuing to
learn and develop ourselves you can have
a few priorities for each day and you
can have a little bit of a schedule
covering these these major areas of life
and be really producing something of
value each week the last area that we
haven't mentioned related to ourselves
is our our emotional or social health
and we're so blessed to have the
technology that we do you know if this
had happened even in the late 90s we
wouldn't be able to keep
indicate like we can now even just in in
20 years the ability to FaceTime or zoom
or Skype with people you can talk to
friends you've been seeing regularly you
can keep in touch but then even this
could give you the extra time to connect
with friends that you've sort of lost
touch with you know I've thinking about
some of my friends in Canada that during
a normal work week we just don't have
time to communicate we're both so busy
now both of us are locked it at home our
work has slowed down this is an
opportunity for us to hop on skype and
and reconnect and talk for an hour get
into a deep conversation and invest in
our emotional social health
absolutely it really is a big reset at
times to reflect on those things that
maybe one time you thought were
important we're really necessary to do
and and it's a time like this where you
can say well what really is important
what the way that I was spending my time
in the past and I think one of the big
wake-up calls for for the United States
is going to be the degree to which
busyness and materialism were so
important in in the daily life of the
average American and that's basically
all been put on hold and I think the the
economic damage is going to make people
more intentional about how they spend
their money and of course now everyone's
reflecting on how to spend your time
given the fact that you have to be at
home and your routine has been entirely
disrupted so it is a time to reflect and
to prioritize and maybe take a new
direction and new habits one of the
things I do want to talk about if people
have been following the economy and the
markets there's been big changes and
there's there's been significant losses
if you want to call them that or damage
in the stock market
and big changes in currency and and
bonds again we don't know how long this
is going to last but there is sort of
you know history is not repeat itself
but it rhymes it we can we can take
lessons from the past and one of the
things that I think people should focus
on is its during a time like this things
that that hold their value are our
tangible things things that are our
Carle hard assets property farmland gold
silver a cash flow positive business
that really needs like an essential
human need whether it's property or like
you have a grocery store or a pharmacy
you know some other kind of essential
need these things they tend to retain
their value and they're they're less at
risk that the things that are at risk
right now and if you haven't been
following you could just go take a look
stocks and bonds even even paper
currencies or bank accounts these things
are all risk I mean I know we don't need
to get into the details of how like
International Finance works but but when
you go and look online at your bank
account and like a number that's in
there people just you understand that
that dot doesn't actually exist like
that's that is actually with the debt I
mean the you gave the money to the bank
and the bank owes you that but it's not
like there's that money like sitting
somewhere in a safe like waiting for you
the month the bank has taken that money
and loaned it out to somebody else
and what's happening right now around
the economy around the world is that
those people who took out the loans with
your money a lot of them are gonna fail
and they're not going to pay back their
loans to those banks and some of these
banks could go under so when you think
about positioning yourself and managing
it's not wise to have all of your money
in things that are represented on a
computer screen because not only are
they just virtual but they're also the
easiest things that politicians can get
their hands on in terms of in times of a
crisis so it's a good idea i Ryan you've
talked about this we've talked about
this cash flow positive properties
businesses hard assets being diversified
not having everything in one basket
these are things that people should
think about during economic crises like
this
so obviously that with people losing
great amounts of wealth or prices
dropping it can be tragic but it can
also provide opportunities for those who
are well positioned you know my kids and
I were watching a video about the Great
Depression and how the markets crashed
and you know the expression was be
fearful when everyone is greedy but be
greedy when everyone is fearful kind of
this idea that you know now while people
are fearful and and selling off assets
or prices are dropping it could be a
good time but do you think that it's
risky to to buy into companies to
purchase stock which you know isn't like
a tangible asset that you hold I think
that there will be a time and a place
for that however I think that in terms
of this virus the United States needs to
get to the place where like China is
right now meaning it's everywhere it is
the country has been locked down for
several weeks and sort of the the number
of cases reaches plateau and then maybe
even starts declining before you start
talking about stuff like that I mean
I've been listening to interviews and
reading
white papers from some of these
investors and hedge fund managers and
look as of right now the US airline
industry is completely bankrupt and the
hotel industry has like a few weeks left
most the restaurant industry tourism the
problem is that a lot of these companies
for the last ten years have been
borrowing money and buying back their
own stock instead of saving up for a
time like this and so they don't have
money they don't have the cash flow and
they're going to default on their credit
and they're they're gonna go bankrupt
unless the government takes taxpayer
money and bails them out but I'm hoping
that doesn't happen and it shouldn't it
shouldn't happen but the point is I
think there's a lot more damage that's
going to occur before it's it's time to
buy I agree the money is made when when
everyone is is terrified I think that
what you buy and when you buy it is a
different question I would like to
probably start with more hard assets
that have positive cash flows and you
can can you scoop up quickly I mean I'm
already thinking about it right now here
in Morocco in terms of the property that
we're in right now and some moves that
we might make in the near future given
some economic changes that are happening
so you know one thing's for sure
everyone's always going to need food
medical healthcare housing degrees of
entertainment and transportation and
once you see prices dropping in that
area it'll be time to look for some
deals for long term investments yeah
yeah hopefully one of the positive
outcomes of this is that people are more
cautious they take more precautions
financially you know just giving
yourself more of a runway I've heard
people talk about defining wealth not as
a high income but more as how long could
you last if you had no more income and
so basically the idea that that you're
well taken care of you don't need new
sources of revenue coming in all the
time you can live off the assets that
you've accumulated or stored up and so
yeah with things like this where I've
had all sorts of work being cancelled
and that revenue dries up it makes you
really think wow have I taken enough
precautions have I been too trusting in
the future have I been you know as we
say counting my chickens before they've
hatched sort of okay I'm gonna get this
job I'm gonna that revenues gonna come
in and then when it gets cancelled now
that's gone
and so yeah I hope that it'll cause all
of us to be a little wiser a little more
cautious spending less on on wants and
storing up more for a rainy day yeah if
it was difficult in the past to to be a
salesperson it's gonna be 10 times more
difficult here in the next six to nine
months so you really got to think about
what is that essential product or
service that people need and how can you
get it to them and how can you take
advantage of this growing trend that's
going to be coming of code sort of
getting a rid of the in essential
aspects of the economy and focusing more
on on what's really needed so that's
that's one of the things that I'll be
thinking about
all right I think I got the anything
else no all right well we want everyone
out there to stay safe stay healthy stay
positive if you got some comments for us
or some suggestions or questions that
you like us to answer on the podcast
just send them to Ryan at Morocco
podcast comm or you can leave
commentaries in YouTube or on our
Facebook page
other than that stay positive stay safe
and we'll see you next time

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