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To help our clients and other business owners and leaders respond to the unprecedented leadership disruptions caused by the coronavirus (COVID-19) outbreak, the team at NAVIX offers the following crisis management information series.

Responding to Coronavirus: Manage & Secure Cash

In response to the economic uncertainty created by the coronavirus outbreak, we suggest you take steps necessary to ensure that your company does not run into a cash crunch. In times of crisis, cash is a company’s lifeblood. Consider these steps to assess your company’s financial position:

Every time a business generates an extra dollar of profit, the business’s owner has a choice to make — do you leave that money in the business to reinvest, or receive it personally and take it home?

During 2018, we wrote and published nearly 40 articles, about a dozen webinars, and several eBooks and white papers to help business owners better understand how to prepare for and achieve happy and successful exits.

Many people assume that when the subject of “exit” comes up with a business owner, we are discussing the owner’s retirement. This is not always true, and assuming it is true creates problems for owners, their companies, and their families.

Have you ever heard the phrase "clean up the balance sheet" as part of preparing your company for sale when you exit? Well, has anybody ever adequately explained to you what a "clean" balance is, and why it matters?