Business
Today, I’m talking with , the President and CEO of , a cloud-based bookkeeping, management accounting, and controller service. Having successfully navigated six recessions as an entrepreneur, Stephen knows a company’s in trouble before the owner and has developed a framework for managing cash flow through times of chaos. For my company, SaberSim, revenue went to $0 for 4 months and while we’ve come out of it stronger than before, I cannot tell you how much I wish I had Stephen’s framework at the start of this. As founders and CEOs, it’s our job to make sure there is enough cash in the bank for the business to stay alive and that’s been an incredible challenge with everything going on in the world. In our chat, Stephen breaks down the 5 steps to take during a crisis—but COVID aside, managing cash flow is never easy and Stephen’s advice today applies in times good and bad.