Is your business ecosystem cash flow safe?
Economist.com on the opportunity for those businesses with cash on hand: For the few lucky hoarders, this is a time to feel both smug and predatory.
But your business having cash on hand may not be enough: …ultra-lean supply chains no longer look like such a brilliant idea when you have to find cash to keep afloat a supplier that cannot get even basic trade credit. “Just in time” is giving way to “just in case”. ~ via Economist.com
The bottom-line is cash flow challenges can extend well beyond your corporate doors. Your ecosystem of business has to be healthy, as well your home.
Talk to your business partners and customers about their current business environment and experiences working with their customers and suppliers. Become more aware and in-tune with trends your ecosystem is experiencing and be prepared to move quickly should a partner or customer not be able to weather the current economic storm.
What do you think? How close should you monitor your business ecosystem for financial health and survivability?
Thanks for submitting this interesting post to my blog carnival. I linked to it today at http://getinternationalclients.com/get-international-clients-sunday-blog-carnival-30/.
Stumbled the post, if you would like, visit the carnival and stumble it for me.
It’s a nice blog.
Thanks.
Really good looking blog I must say – keeping cash in the bank whether for your ecosystem or not is a must especially in the present economic climate!