If you’ve noticed a three-month pause on this blog, it’s not because I haven’t been writing. I’ve been focusing on managing during a crisis and posting on the main bplans blog instead of here. These are very tough times, and planning and good management are needed more than ever. Here are some of my related posts of the last three months.
- Estimating Realistic Startup Costs, earlier this month. What will it cost to start your business? It’s hard to know for sure. And harder in a crisis. Learn how to accurately estimate startup costs and get your business off the ground.
- The Difference Between Cash and Profits, last month. Profits are not the same as cash, and understanding the difference between them is a vital part of running a successful business. Your cash management has to tighten during a crisis.
- Should You Start a Business? Test Your Idea First. May 21. Have a business idea you’re sure is a winner? You’ll want to test it first, especially during a crisis. Find out how to test if your idea is viable and if you should start a business.
- How To Forecast Cash Flow. May 19. Your business may be profitable, but it can still fail if you run out of cash. Learn how to forecast cash flow to avoid unforeseen cash flow problems.
- How to Conduct a Market Analysis in a Crisis. May 13. Even in a crisis the fundamentals still apply. But you have to adjust some estimates.
- Turn What-if to What-Now: The Importance of Scenario Analysis. In April. Scenario analysis is looking at what might happen and developing a plan for how to act. Find out why this is so vital and how you can do it your business. It’s especially important during a crisis.
Most of those focus and highlight managing during a crisis. I hope you find them helpful.