Riding Financial Storms – How CC Members Can Help
- blog16 Feb 2021
As the National Director of CorporateConnections™ there are many benefits that I promote for membership to this global forum. One of them is the help members gained during the tough pandemic period. I wrote a short note on the assistance members can expect to ride through financial storms, and I share this here for you.
CorporateConnections™ members can bank on friends in their chapter to bail them out of tight financial situations not by extending a loan but by sharing their experience, strategy and connections.
Since its inception, the Dubai chapter of CorporateConnections™ has been instrumental in helping a few members to overcome challenges in financial matters. A member in a dire financial imbroglio can expect support in one more of these many ways:
An empathetic group of patient listeners can be an effective sounding board for members in financial distress. An opportunity to have a non-judgmental yet judicious set of friends can help articulate issues and select from a range of available solutions. CorporateConnections™ members have a personal board available when the need arises.
Access to Bankers
Members by virtue of their business have relationships with banks and financial institutions that can come to the assistance of other members if the need arises. Being a fellow member, trust is a given and this builds the confidence of the bankers to engage into a dialogue that can ease the situation.
Members receive strategic directions to ameliorate their financial duress. Many a times funds infusion is not an option or only solution and friends in the group can highlight different approaches that can work in the current situation.
Some situations require recourse to legal assistance, but in a trustful environment where relationships are more important, the counsel from members can navigate to more practical options. What the courts cannot do, fellow members can through mediation.
Members help their friends to adhere to fiscal discipline by making them accountable to the group. Making the ailing member accountable to others in the group ensures that suggested measures are fully complied with.
CorporateConnections™ members have connections that prove useful in situations of all nature and sometimes a direct dialogue can help ease burdens of penalties and prejudices.
Through a network of trust, relationships can be restored and strengthened for a better financial future.