Kathleen Craig featured in Forbes’ 15 Smart Ways To Diversify Your Business’ Cash Flow During A Crisis
15 Smart Ways To Diversify Your Business’ Cash Flow During A Crisis
When a crisis like COVID-19 hits, it can have expected—and unexpected—impacts on your business’ revenue stream. That’s why it’s important to have a plan for diversifying cash flow, freeing up capital and tapping into other sources of income. This is often easier said than done, however—and if it’s handled poorly, you may end up hurting your business even further.
Like many business leaders, the members of Forbes Finance Council are exploring the question of how to diversify their cash flow during the current global crisis. Below, they share 15 smart strategies, along with what to consider as you implement them.
5. Offer free tools to deepen relationships for the future.
It is important to support your customers and what they are experiencing during this crisis. For example, we have seen fintech loan platforms pivot to quickly develop the CARES Paycheck Protection Program application in their platform. You must be supportive, listen and not push during times of crisis. Sometimes, the best thing you can do is offer free tools to help others and deepen relationships for the future. – Kathleen Craig, HT Mobile Apps