Business Resilience After the Great Recession: Bill Derrick (part 1)

Send us Fan Mail Business resilience starts with accepting hard times will arrive, and Bill Derrick learned this the hard way. In Part 1 of this Reignite Resilience conversation, hosts Natalie Davis and Pamela Cass talk with Bill, a business leader, author, coach, and public speaker, about leading his family construction and land development business through the Great Recession. Bill wrote Restored by the Storm about this period and the cancer diagnosis soon after. Before the recession, Bill believed life was under his control. Around 2006 he sat through a sermon on the three stages of a storm, the time before, the time during, and the time after, and felt glad he would never face one. Then the recession reached his industry. Banks closed across the country. Lenders who once courted his business asked how he planned to repay them. Bill expected a short downturn, and the recession lasted for his companies from 2007 until about 2012. Bill shares what carried him through five hard years. His faith grew stronger, he read and prayed, and two conversations changed how he approached each day. A financial advisor asked him to name the worst outcome, then work every day to improve on it. A friend suggested he quit and let the banks foreclose, and Bill answered right away that quitting was not an option. He also explains why he began asking bankers for creative payment options, and why admitting you do not have every answer leads to help from other people. Natalie and Pam add practical tools for anyone facing a crisis at work or at home. They discuss sitting with the worst case for a short time, then moving to action. Bill offers a second question, what is the best outcome, and Pam adds a third, what is the most likely outcome. Bill returns often to the two things you always control, your attitude and your effort. In This Episode: How Bill led a family construction business through the Great Recession from 2007 to 2012 Why a financial advisor’s question about the worst outcome changed Bill’s daily work Why “quitting is not an option” became Bill’s rule under financial pressure How to ask for help, and why leaders do not need every answer Three questions to ask before a hard decision: worst, best, and most likely Why attitude and effort stay in your control during any crisis Part 2 continues with Bill’s multiple myeloma diagnosis, his stem cell transplant, and his plan to hand the family business to its next leaders. Listen to Reignite Resilience: https://reigniteresilience.buzzsprout.com Connect with Bill Derrick Support the show Subscribe to Our Weekly ThinkLetter Facebook Instagram Check out our Book Series: Meaningful Success: How Clarity and Alignment Drive Real Achievement The Quiet Gift: A Journey of Self Worth and Resilience Magical Mornings Journal Disclaimer: The information provided in this podcast is for general informational purposes only and is not intended as a substitute for professional medical advice, diagnosis, or treatment. The co-hosts of this podcast are not medical professionals. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition. Never disregard professional medical advice or delay in seeking it because of something you have heard on this podcast. Reliance on any information provided by the podcast hosts or guests is solely at your own risk. Pamela Cass is a licensed broker with Kentwood Real Estate Natalie Davis is a licensed ...