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Business Planning 101: Planning for a Recovery While in Survival Mode
Key Takeaways: Watch important financial ratios: Pay attention to numbers like your cash-to-debt ratio and how long it takes customers to pay, since they show how healthy your cash flow is. Use a 16-week cash flow plan: This helps business owners focus on the areas that bring in the most profit. Avoid unprofitable paths: Say no to money-losing opportunities and strengthen existing relationships to keep finances strong. Stay disciplined after hard times: Using lessons learned during downturns helps build long-term success when revenues grow again. Plan big purchases carefully: Good financial…
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