This is a question that many of us are sure to ask frequently. In simple terms one could say that we can adopt two positions. One is to do nothing or very little and wait for the unknowns to clear. This attitude is very similar to that phrase attributed to a President of Chile in the early twentieth century. I would have said that there are two kinds of problems; Those who manage themselves and those who have no solution.
The other option is to take advantage of the opportunity to evaluate more strategic aspects of our business and investments that the intensity of day to day usually do not allow so despite their importance, are always relegated to “when there is time.” In addition, in times of abundance the defects and vulnerable aspects are noticed less and pass “piola”. However, these flaws can be corrected by helping to strengthen the value of the business and our relationships. In this direction, some of the questions that we should ask are of the following type:
Does my business have a governance structure that makes it truly sustainable?
Do I count on the advice of professionals who besides the knowledge have enough independence to tell me those things that others may not dare to tell me?
Are my investments being handled in a fiduciously responsible manner?
Are my main contracts well designed and do not allow for improvements that make them more efficient?
Can I be affected by a conflict whose destruction of financial and emotional wealth can be avoided?
Do we understand the changes that are coming to us in the market or industry in which we operate and are prepared to face them and transform them into an opportunity?
Every day we find cases of companies and investors who unfortunately seems to have not had the time to ask these questions.
Juan Pablo Bórquez Y.
BY I BórquezYunge Advisors