Future-Proofing Business Profitability Amid A Crisis [Forbes]
Alphabet Inc. - Class C Capital Stock (GOOG)
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Source: Forbes
Photo:GettyMany business owners have spent time developing a financial plan that includes projected monthly, quarterly and annual profits. As the world closely monitors the coronavirus and subsequent COVID-19 outbreak, many business owners are feeling the financial impact and are worried about their projected profits. They may be feeling vulnerable and unstable, and even anticipate dipping into their savings to survive.Planning for the worst is the best way to protect your business from any financial impact as a result of a crisis. So, how can businesses profit-proof themselves for success? Implementing a few of the following actions can help your business weather trying times:Understanding Your Cash FlowSet aside time to learn how cash moves throughout your business. Review your revenue and expenses to better understand your monthly cash flows. If possible, examine the past two to three years of activity to uncover seasonal patterns. This will help you identify areas of improvement a
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