08/14/2023
๐ ๐๐จ๐ง๐ญ๐ก๐ฌ ๐๐ฎ๐ง๐ฐ๐๐ฒ ๐๐๐๐ญ !!
What do you say to your clientsโฆ?
Recording by Dan Gill CPA & Brigitte Benquet (UFO)
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๐ (๐๐๐๐):
WHAT DO YOU SAY TO YOUR CLIENTS WHO ONLY HAVE 3 MONTHS OF RUNWAY LEFT AHEAD OF THEM
๐๐๐ ๐๐๐๐ ๐๐๐:
Have you kept your financials up to date?
Have you explored all your financing options?
What are the biggest barriers to positive cash flow right now?
Do you have an emergency plan?
๐๐
๐ (๐๐๐๐๐๐๐๐):
All of the above โฆ and, zooming in on the emergency plan, they need to seriously ask themselves the question if they have solid grounds to continue their business? What do solid grounds to continue to look like? For example, it would include a verifiable promise of funding or a verifiable sales pipeline that will convert into cash in time before doomsday โฆ emphasis on verifiableโฆ
And they should be already in acute conservation mode, they should have paid your employees and vendors what they owe them (to keep a good reputation in the market), and they should have already wound down their business down to the absolute minimum survival mode, so that they may be able to restart it when they get cash in.
If they do not have solid grounds to continue, the 3 months marker is time to finish paying what they owe and close operations. Closing operations may take at least 3 months if not more.
Please manage your finances so that you always have more than 3 months' runway to make these difficult decisions
ยฉ ๐ค๐ข๐ค๐ฅ ๐ด๐๐๐ฟ๐๐พ๐ฝ ๐ฅ๐๐๐บ๐๐ผ๐พ ๐ฎ๐๐๐บ๐๐๐๐บ๐๐๐๐ & ๐ฃ๐บ๐ ๐ฆ๐๐
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๐ข๐ฏ๐
What do you say to your clientsโฆ?Recording by Dan Gill CPA & Brigitte Benquet (UFO)
