05/16/2020

What the Current Crisis Has Taught Me About Business

Little things mean a lot

Although crisis management is my forte, I generally use that knowledge to counsel clients, not to respond to issues that affect my own business. But the past couple of months of managing a business during a global pandemic have taught me a few things about being a business owner — and specifically about being a PR agency owner.

1. Cash Is King
I have always been conservative when it comes to running the business; a trait for which I have occasionally been chastised. Some would say I wasn’t investing enough in the business. Without a doubt, I was keeping more cash inside the business than most financial advisors would suggest.

Of course, what we now know is that keeping cash on hand can provide a measure of confidence and security in these most uncertain times. It may not make your business invincible, but it can help you ride out a crisis without having to close up shop.

Please select this link to read the complete article from Columbus Business First.