BizBites by Ethique Advisory

Thriving in a Crisis is something we all would want to do. So, the question is, is it feasible? Yes, very much so. Growing Business in the face of Crisis is the theme of this series of blogs. In case you missed the first chapter, you will find it here So, what is step two in the journey of growing Business in the face of Crisis? The second key area of Focus is CASH. Seems like the obvious, yes? The first area of focus is the Cash Gap. What do I mean by cash gap…? Cash gap is the gap between the time you take to recover money from your debtors and the time you take to make payments to your creditors. As an entrepreneur, the aim must be to reduce this gap. The next step is to find ways to be more Cash efficient. What does that mean? It means ensuring you have enough liquidity to manage the hard times It entails taking stock of your fixed expenses in your Business. Depending on your selling cycle and the type of Business you have – b2c or b2b, see if you have enough Cash to weather adver...

The pandemic and its ensuing restrictions have made life increasingly challenging for entrepreneurs. Here is a series that I believe could help entrepreneurs strive even in the face of a Crisis. By its very nature, entrepreneurship comes with its share of challenges, successes, and failures, which makes the journey exciting and worth pursuing. As you progress on this journey come responsibilities, which become heavier as you realize every decision you impact not only the direction of the organization but the people helping you in driving business growth However, the crisis we face today takes this to a whole different level. Lockdown, cessation of business activity - a crisis we never envisioned and typically one is not prepared. How can an entrepreneur save the day in the face of a crisis? As a Business Growth Coach and an entrepreneur, my learning is that, for organizations to weather a crisis successfully, they need to have some key fundamentals in place. The one that tops the list...