The power of positive cash flow is essential to continuing to operate. Cash is king, and every company leader at the table agreed they need to ensure cash is available. If there are months where revenues will not cover breakeven, have a plan in place to keep cash flowing.
Enter into the discussion lines of credit. Everyone should have one. Everyone should have a line that far exceeds anticipated requirements. For those in the group that did not have one, or had an inadequate line, the recommendation is to get one now.
It’s inevitable that the economy will experience a downturn (and some believe it will happen in the not too distant future). When the downturn happens the lines of credits will be difficult to get.
Therefore, get some love from your banker today. Shore up all cash reserve positions and resources now, before they are needed.