Business owners are experiencing challenging times during this Coronavirus pandemic. There is uncertainty and fear, which can paralyze us and prevent us from making business decisions.
In times when revenues might be declining and we find it difficult to forecast future performance, we need to increase our focus on managing cash flows. This not only requires identifying more sources of cash and effective debt management, but also adjusting how we pay our vendors, cutting operating costs and sometimes reducing our workforce.
Effective cash flow management is key during times of crisis. Cost reduction is not always the answer but sometimes it’s inevitable.
Watch us during this webinar for a conversation about these topics which are top-of-mind for most business owners right now.
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