54 min
#24: How to Prepare Your Business For A Downturn (Important Questions to Ask Your Accountant) The Golden AGE of Business
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- Entrepreneurship
Essential financial keys to ensuring your business will survive during this economic downturn: 1) Understand HOW what's going on in the economy IMPACTS your business SPECIFICALLY (micro vs. macroeconomics) 2) Do a Sensitivity Analysis: a sensitivity analysis looks at your top revenue generators and sees their sensitivity to what's going on externally. 3) Understand your Cash reserve: How long can your business survive the loss of a large client or a significant disruption?We dive into these t...
Essential financial keys to ensuring your business will survive during this economic downturn: 1) Understand HOW what's going on in the economy IMPACTS your business SPECIFICALLY (micro vs. macroeconomics) 2) Do a Sensitivity Analysis: a sensitivity analysis looks at your top revenue generators and sees their sensitivity to what's going on externally. 3) Understand your Cash reserve: How long can your business survive the loss of a large client or a significant disruption?We dive into these t...
54 min