If you’re worried that your business will run out of money remember this

If you are feeling acutely worried about your business's ability to survive the next few months financially my advice is to do what I call a Rainy Day Cashflow on the back of an envelope so that you have a realistic picture of where you are.

My three headlines are these:
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1: Don't panic and start cancelling direct debits, you could make things worse.⁠⠀
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2: Call people you owe money to and politely ask for more time to pay. It is ALWAYS more effective if you can get them on the phone, this has never once not worked for me.⁠⠀
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3: Collect collect collect, it is no good having zero in the company bank account when you are owed money from people who haven't paid on time. Again I start by picking up the phone and smiling at them before resorting to email.⁠⠀
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If you need more help with this or have a question please ask.⁠⠀