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During economic downturns these prospective clients typically have less money, or more uncertain cashflows, and so are less likely to spend money on consulting services. Management consulting is a service industry that earns its keep by serving large organisations – corporate, non-profit and government.
Cashflow, cashflow, cashflow The economic climate is still unstable. In this economic climate, it remains critical for small business to stay on top of their cashflow. Here are our small business trends for 2023. Inflation-rates still are at an all-time high. in customer support).
Instead, I’ve been more successful with, e.g., ”turnaround specialist” or “business developer.” Don’t be afraid to look at the “business” or “hard” data, at least to understand the cash situation of the organization.
I (buyer) can fix this business (turnarounds make headlines for a reason, they’re rare). There’s a lot of discretionary cash to cover my debt (are your mortgage, car, tuition, utility payments discretionary? To cover debt you need “real” cashflow after a fair market salary).
It prevents you from generating reliable cash-flow forecasts and makes it incredibly difficult to manage resources. This leads to poor visibility, inefficient processes, and, worst of all, inaccurate data. Bad data, in turn, leads to inaccurate timelines, estimates, budgets.
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