08 Apr 3 Steps to Protect your Business During a Crisis
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It is important as business owners and executives to inventory and quantify your exposure in times like this. COVID-19 is eating away at the health of our country. Not just our physical health but our economic health. By evaluating your risk ahead of time you can ensure you take steps early on to protect your business from rising and delinquent accounts receivable (AR) and subsequent cash flow issues.
Find the 3 steps in full on our blog.
If your business is severely impacted:
- Offer “early pay” discounts to your clients
- Secure receivables
- Connect with your banker on cash flow options
- Right size your business
- Look at options you may have not looked at before
- Become verticalized
- Consider a merger or acquisition
Listen to Mike’s insights into protecting the health of your business during an economic downturn on Apple Podcasts or Spotify.