COVID-19 is the latest important negative influence on the health of our economy and, likely, your business. In downturns, revenue and cash levels always fall faster than expenses. In some ways, business mirrors biology. Darwin may have said it the best when he surmised, those who survive “are not the strongest or the most intelligent, but the most adaptable to change.” As the leader of your company being quick to assess the impact of this latest black swan on your company and taking rapid action is key to keeping the value you have built over the years, or survival for that matter.
Here are the things company leaders need to assess quickly to ensure ongoing corporate health.
- Cash runway
- Likely reduced investor interest if you are fundraising
- Sales forecasts
- Marketing spend for acquiring new customers
- Capital spending