Reopening your business. Show me the money, is it a good money or bad money?

A well thought of reopening strategy and financial modeling for profitability and sustainability – Show me the money, including the cash requirement and cash flow projection by taking into account any available government financial assistance and possible other sources of finance would be critical for the feasibility of businesses to reopen, sustain and grow.

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Making sure not throwing good money (either your own, through borrowing or other finance sources) into a bad situation. Otherwise, it will only create a further financial burden to the business and yourself – Bad Money.

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For reopening, among others, cash would be required to get the business opening ready, including goods, cleaning, repairs, maintenance, wages. Then the ongoing supply and operating costs. Very often you would have a cash flow gap from the time you need to fund some of your expenses, including supply and wages before you receive sufficient money into your bank to cover them. When you reopen, might take some time to go back to your previous revenue. To fulfill pent-up demand, you might need to purchase more supplies and hiring more people, all cost money.

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Once you are clear that the money you have, or you will have would be able to sustain your business profitably and sustainably – Good Money.?It would be wise to start looking for appropriate additional funding if required to be able to reopen and continue your business successfully.

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Sharing some of the thoughts of my experienced colleagues:

https://bges.co/reopening-your-businessshow-me-the-money-is-it-good-money-or-bad-money/?

#strategy #success #sustainability #reopening #cashflow