Surviving the Current Credit Crisis

The current credit crisis is a reminder of the importance of having a sound financial plan to navigate through turbulent times.

In a letter to clients and friends we offered some suggestions to help you assess your current financial condition and begin re-thinking your business plan in response to current economic challenges.

1. Don't panic. It's difficult to make sound decisions if you do.
2. Take a fresh look at your monthly income and expenses. Have you been meeting your budgeted projections? How much of a drop in revenues can your business withstand and for how long? Analyze your expenses and determine which ones can be reduced.
3. Reduce your reliance on credit by disciplining your spending. What are your cash-flow needs? Do you have sufficient cash reserves?

Continue reading our letter