An economic downturn often gives CFOs a gut reaction: Cut deep and cut soon. But markets ebb and flow, and finance teams need to stay flexible and not overcorrect if they want to stay afloat.
In this guide, explore 17 growth-oriented moves that will help build adaptability and ensure a more prosperous future for your business. Learn how to get started by assessing your working capital and putting some parameters in place. In addition to the standard cash flow statement, keep a close eye on free cash flow so that you know when funds are available to implement growth strategies such as adding new products or services, making strategic hires, or acquiring a competitor or supplier.
Once you have a handle on cash, implement a rolling forecast methodology that allows you to continuously update your assumptions. This will help you dynamically adapt as conditions change.
Read now to learn more about preparing your business for growth, including:
- Exploring partnerships and M&A deals
- Increasing efficiency and supporting employees
- Strengthening marketing strategies
- Getting creative with customers, sales, and employees
Download the step-by-step guide to learn more!