In this educational series, Maria discusses the following topics:
Managing Cash Flow
Cash is the oxygen of any business. In these times, the most important factor for a business to watch is cash balance. To effectively manage it, you need a modeling tool that is detailed and flexible, allowing you to adjust the timing of specific inflows and outflows. We present an example of a method of modeling that can be updated frequently—even daily—to maximize your use of cash.
Strategies for Planning Alternative Business Models
As a business owner, you need to be ready to change direction on short notice. This requires a unique combination of short-term planning and long-range sensibilities. We discuss the importance of financial modeling to sketch out the effects of a change in business plan so that you have an idea of what to expect.
Simple Changes to Strengthen Your Financial Well-Being
There are simple, practical actions that can strengthen your financial foundation. Considerations include updating your credit terms, drawing down your inventory, and attaching margin to everything you sell.
Today, most industries are being forced to innovate in some way. How can you think differently and harness the opportunities and threats of this COVID-19 era for the benefit of your company? We can innovate techniques and practices to adapt to our current situation and make the most of it.
When faced with uncertainty and stress, we tend to become reactive. We hope this video series reminds business owners of fundamental adjustments that can result in more proactive management and controlled change.
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