The document discusses the shift in financial paradigms due to the COVID-19 pandemic, highlighting the need for digital transformation in business operations. It emphasizes the importance of creating value and wealth, rather than merely paying bills, and outlines essential services that have gained prominence. The next steps include managing existing cash, evolving customer relations, and enhancing value creation skills in a more flexible work environment.

1. Realigning Your Financial
Paradigm
FOLAKEMI FADAHUNSI
MAY 2020

2. Content
 Your Pre-Covid Financial Paradigm
 And then a pandemic and a lockdown…
 Your Post Covid Financial Paradigm
 Next Steps

3. Pre-Covid Financial Paradigm
Employee Business Owner
Who
How
Why
What
When
Where
Employer pays salary based on work ‘seen to
be done’
To pay bills
Expenses e.g. food, clothing, shelter, borrow to
buy cars and houses
Work from 8am to 5pm to earn a salary at
month end
From the office
Customers, lenders, investors
To create wealth
Business expenses e.g. rent, salaries, official cars,
drivers, other related expenses
Hire full time staff to work from 8am to 5pm to
deliver products or services
From the office, store, online
Skill, profession, vocation learned and tasks
carried out, mostly physically in developing
markets
Product or service created and delivered, mostly
physically, electronic/digital optional in
developing markets

4. And then a pandemic and a lockdown…
Who
How
Why
What
When
Where
Employers/companies still exist, customers, lenders and investors still exist
Skills still required, Products and Services still required, but digital is mandatory
not optional
You need to not just pay bills but create value and create wealth
Essential services take prominent place – Health, Food, Home,
Time boundaries to work removed
Location boundaries removed. ‘Wherever’ is the place to deliver and receive
products and services

5. Post-Covid Financial Paradigm…
Who
How
Why
What
When
Where
Employers/companies still exist, customers, lenders and investors still exist
Skills still required, Products and Services still required, but digital is mandatory
not optional
You need to not just pay bills but create value and create wealth
Essential services take prominent place – Health, Food, Home,
Time boundaries to work removed
Location boundaries removed. ‘Wherever’ is the place to deliver and receive
products and services

6. Next Steps
Manage
 Manage existing cash – but
remember that cost cutting does
not create wealth
 Manage existing
customer/employer
Evolve
 Digitalise - Your payer still exists
but the need has evolved
 Enhance your value creation skills
– essential vs. non-essential
 Make your value available
‘Timelessly’
 Make your value available
‘wherever’
Thrive
 Create wealth – pay your future
self