As COVID-19 took keep of the international financial state, most CFOs went straight into disaster management mode. The focus was vigilant monitoring of cash balances and running multiple state of affairs strategies to make sure satisfactory liquidity in the small time period. Now, a couple months into the pandemic and ensuing economic uncertainty, it is time to start shifting our emphasis past fear and reactive cash-conservation tactics to resilience and, sooner or later, to resurgence.
Here are seven methods to help you and your organization make the changeover.
Maintain your gross margins.
- Although it can be tempting to cut selling prices to accomplish quantity, protecting your gross margins will be vital for the very long-time period prospective clients of your business.
- Preserve restricted pricing controls and sacrifice quantity for margin in which it tends to make perception. Business quantity will return margins might not if you cut them early.