The worst case scenario is playing out for businesses across the US. What are you doing to preserve cash flow during this difficult time while looking after you employees? What steps have you taken with your lenders?
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1. Make a weekly or monthly cash flow projection.
2. Do you have access to more cash via a revolver or line of credit?
3. Control all cash outflow - eliminate auto pay for all expenses, and you should sign off on all outflow of cash.
4. Communicate what you're experiencing with vendors and lenders, they may be able to work with you on payment terms, timing of repayment, etc. If your situation is really hard, hopefully your lender wants you to continue operating the business vs. taking over (advantages of having a bank as lender vs. private equity/other people that like to operate businesses). Quantity, frequent, and transparent communication really helps here.
5. Don't wait to communicate with employees, if haircuts/furlough/lay offs are inevitable, just don't wait. Cash is what keeps a business alive.
https://medium.com/sequoia-capital/coronavirus-the-black-swan-of-2020-7c72bdeb9753