Profitable and fast paying customers? How Latvia Phone Number are these customers doing at the moment? Have they had to close their doors by order of the government? Have they started laying off staff? In other words: will they still be able to purchase your products Latvia Phone Number and services and pay the invoices in the coming months? How are your key suppliers and strategic partners doing right now? Can they also guarantee a reliable delivery of products or services in this day Latvia Phone Number and age? Have suppliers temporarily increased or even lowered their prices? In other words: will they continue to provide the same quality products and services at.
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Months? What did your burn rate (how much Latvia Phone Number money you spend monthly to grow your startup) looked like before the corona crisis? How many months could you survive financially if you didn’t intervene? We call this number of months the Latvia Phone Number remaining runway of your startup . Which solutions bring you the most and the fastest profit? Are these solutions still current for your customers during the corona crisis, or have they shifted their Latvia Phone Number priorities? You can usually use the 80/20 principle for this. 80% of your revenue comes from 20% of your customers and 20% of your products and/or services. What is your startup.
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Which of these cost items are really crucial Latvia Phone Number for business operations? We make a distinction between ‘quick income-related expenses’ , ie expenses that are necessary to be able to deliver immediately and thereby directly generate income, ‘necessary Latvia Phone Number expenses’ and ‘non-necessary expenses’ . It is often the non-essential expenses (such as a luxury office space, a large car and expensive external consultants) that can be saved the fastest, but do not Latvia Phone Number underestimate the potential cost savings for necessary expenses. What is your current financing structure like? What is the current position of external financiers? Can you still use.