Crises create ambiguity. Ambiguity creates insecurity. Insecurity will rob your momentum. The first thing to do in a crisis is to eliminate ambiguity and understand your financial situation. It is a challenging place to go in challenging times, but understanding exactly what is happening for you and your business financially will provide an invaluable perspective into how your business can start to recover and overcome the current market.
Very few people go straight to the worst-case scenario in a crisis, because we are all trying to avoid it. Those who do and understand what could happen, have a basis for making better decisions. By eliminating ambiguity and understanding your financial position, you will create a foundation so you can make far better decisions.