If the COVID-19 pandemic has caused uncertainty for your business, you can prevent your ship from sinking by improving liquidity. It is important during this time that your business stay as liquid as possible. To learn how to do that despite the rough waters, I encourage you to read this article on Forbes.com. If you’d… Read more »
Considering the current economic situation, many business owners have found themselves in a cash-flow crisis, and others may begin to experience it as the effects of massive unemployment flows through the economy. In this moment of critical need, managing cash flow creatively can be the difference between failure and survival. To address this need, I… Read more »
Here is a great summary of offensive and defensive strategies to help you manage the current financial crisis. Kudos to my friend Tom Meyer and his fellow Scaling Up Coaches Zahir Ladhani and Sid Panjwani for sharing these graphics. This is great advice for getting us through these tough times. If you’d like more advice… Read more »
Cash is the fuel for your business, so it’s important to know how much to have on hand. While the recommended practice is to maintain reserves equal to 3-6 months of operating expenses, in real small business circumstances, a “one-size-fits-all” formula may not be the best fit for your business. The better approach is to… Read more »
The current economic expansion has now exceeded a decade in length, which is a long one by historical standards. Of course, this recovery comes on the heels of one of the worst economic recessions in our country’s history. While the economy in most sectors remains reasonably strong, there are mixed signals on how much longer… Read more »