#AskPeshev 32: Financial Management and Software Outsourcing

#AskPeshev 32: Financial Management and Software Outsourcing

March 18, 2020

“Full disclosure: It is possible to find CHEAP development firms out there, but extremely unlikely to pick out the right timing without risking too much. ”

— Mario Peshev

I’ll preface this email with my warmest wishes for perseverance throughout this tough period the planet is facing now.Having started my solo career in the heat of the 2008 recession, I still recall the fear and desperation of the previous financial crisis. And make no mistake: the global COVID regulation is inevitably leading us to another one.However, recessions are common and recur every 8 to 10 years anyway. I’m sure this is in no way reassurance, but at least we see this coming and can fully focus on surviving through the rough times. It would have been even more devastating if we went through a pandemic straight into an unexpected recession from the startup world, VCs, the US-China trade war or something else. For this issue, I’ll share the financial tips I gathered from 8 top finance experts around the world, and some thoughts on outsourcing. Believe it or not, outsourcing can be a reasonable way to offload work and scale it afterward in times of crisis, especially when you don’t have the resources (and are afraid) to launch a whole new department in-house.And in times of isolation, outsourcing does just that.If you’re still truly afraid of the crisis and don’t know what to do, hit “Reply” and let me know how you feel. I’ll make sure to read that and see if there’s anything I can do to help.Mario

In the heat of the COVID-19 outbreak, it's worth taking a moment to reflect on our financial management as well. Here's what 8 leading financial experts shared with our crowd and what considerations we have to account for in 2020 (and onward).

It's All About Reading...

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