You think you know a lot about a territory you hike through regularly. You know the plants to avoid like poison oak. You know where the stickers tend to emerge and keep the dog away from them. Then, something changes. There is way more rain than usual, or there is a fire. And, long dormant plants emerge or the balance in the plant life changes. After the wildfires of January, a plant called poodle dog bush has emerged and it is a lot like poison oak. I didn’t know about it until yesterday when Paul called it out while reading the paper version of the Los Angeles Times (yes, we still get the daily paper). Here is the link.
So what do you do when you are out hiking this spring? Recommendations are to wear long pants and a long sleeve shirt. Don’t pose next to pretty plants – poodle dog bush has very pretty flowers. Keep your dog on the leash so your pup doesn’t go through the bushes and spread the oil everywhere. Protect yourself from this new danger.
This same sense of caution should permeate our view of financial safety. The new tariffs have severely disrupted our ways of doing business. We have no past history to rely on – we have never been rocked by random tariffs. It is likely that you can survive if you pay very close attention and stay flexible. The landscape has changed and will continue to change. Run scenarios with your team on how to respond.
Continue to focus on the basics with as much cash as you can preserve without choking off growth. This week, seriously rethink where you are spending your resources. If you can delay some investments, this may be the time.
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