Larry’s company lives to fight another day

My CEO client (Larry) and I were just getting to know each other. His company was shifting from one that was using many independent contractors to now hiring employees. In addition, Larry was closing some very large contracts that were going to be lucrative.

I told Larry that running out of cash is the number one reason companies go out of business. Since he didn’t have one yet, I helped him build a simple cash flow forecast. What we discovered was extremely scary! He had 10 days of cash left. He had no idea he was about to go out of business.

I coached Larry on how to get the cash he needed to immediately survive. Then we worked together to make cash management a cornerstone of his management of the company going forward. Now, Larry’s company is cash flow positive, and growing at a rapid rate.