We’ve been working with a client who a few months back found themselves in a real spot of bother when it came to cash flow.
They were experiencing a sales slump which was heightened by some negative business events which were outside of their control. This perfect storm lead to a complete depletion of cash holdings in the business. Gone were the savings or cash buffers that once existing and these unfortunate business owners found themselves in unchartered waters with growing ATO debt, unpaid suppliers putting them on stop supply, and the inability to restock a warehouse with their top selling items. They had entered a vicious cycle and without quick action they knew they would be faced with ruin.
When we assessed all of the factors at play the number one priority for everyone was to get cash in and fast. It wasn’t about major structural or process changes. Sure, both were needed but right now they weren’t going to keep the business afloat. Quick wins were what we needed.