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Dollars going out the door in various categories and

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dollars going out the door in various categoriesand dig into exceptions. It is not rocket sciencealthough it is easy to get lost in the maze ofnumbers.MAKE DEALSConsider deals you might not have madepreviously. For example, when I was VP ofOperations, we made a deal with a keycustomer to pay us quicker for a discountedprice. Be upfront with suppliers and work outarrangements. In that same situation, we talkedwith suppliers and asked for a haircut (pay themless than owed upfront, and we would make itup to them as we gained strength). Keysuppliers were supportive and become longterm partners. Both moves freed up cash whichgot us through tough times and enabled us toturn the business around and increase the valueof the business dramatically.I T I S M O R EI M P O R TA N TT H AT Y O U H AV ES O M E O N E W H OC A N H E L P S TAYO N T O P O FC A S H A N DL I Q U I D I T Y.
F I N A N C E & A C C O U N T I N G ,C O N T .C H A P T E R 2 0F U T U R E hyphen.case P R O O F I N G P O S T C O V I D hyphen.case 1 9 bar.case2 5THROW OUT YOUROLD ASSUMPTIONSIf corporate, your private equity backers orinvestors said they did not want to investadditional money into the business prior to thecoronavirus pandemic, do not assume thisstatement remains true. Proactively get yourowners up to speed and present options andrecommendationsforhowtosuccessfullynavigate the crisis. Beyond survival, do notforget to take a leap forward. Most investors areextremely interested in dramatic returns. If onearises during these circumstances, request anemergency meeting. If you do not ask, you willnot receive. Worse yet, when they find out later,they will be unhappy to miss an extraordinarydeal.What will you do if customers cannot pay, neworders are not flowing or if suppliers threaten tocut you off? Which levers can you pull to gainadditional cash quickly with the associatedtradeoffs and consequences?TO INVEST OR NOT TO INVEST?It could be the best time to invest. Get on top ofyour financial position and capability to invest.Get on top of your customers and opportunitiesto grow market share and build business value.Then, when a compelling opportunity arises,grab it. Why not sail past the rest of yourindustry and claim the number one positionwhile the rest of the world is hunkered downwatching reruns?ARE YOU A CUSTOMER OF CHOICE?Evaluate your portfolio carefully. As we emergefrom the pandemic, power will shift back to thesupplier. Have you identified your strategicpartners? If so, treat them well throughout thiscrisis. Try the 80/20 approach. Gain 20% costadvantage while maintaining relationships withcritical partners for the 80%. As business rampsbackup,youwillemergewithsolidrelationships and your business will benefit foryears to come! Consider this goodwill to be aninvestment in your future.
T R E N D SC H A P T E R 2 1F U T U R E hyphen.case P R O O F I N G P O S T C O V I D hyphen.case 1 9 bar.case2 6Several trends are taking hold during thecoronavirus pandemic. Business owners and

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