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Distributor's Link Magazine Spring 2020 / Vol 43 No2

56 THE DISTRIBUTOR’S

56 THE DISTRIBUTOR’S LINK Nelson Valderrama Nelson Valderrama is the CEO of Intuilize, a software Service platform that specializes in helping mid-sized distributors transform data into profits. With more than 22 years’ experience as P&L manager executive for major PE firms and industrial distributors. Nelson has dedicated his career to help business uncover hidden competitive advantages and unleash the power of data in the new Digital Economy. For more information contact by email nelson@intuilize.com or visit www.intuilize.com WHEN THE RECESSION ARRIVES, WILL YOU BE READY? I’m writing this article in March 2020, but you’re likely reading this sometime between Q2-Q3 of 2020…which means you can tell me definitively if Goldman Sachs was right in their prediction that the U.S. GDP would shrink 5% in Second Quarter. So, did they get it right? If I were a betting man, I would wager that number could be even higher than 5% by the time this article drops. Even today (way back here in March at the outset of the quarantine era) the FED has begun to talk about some bailouts for big companies in the travel industry (Airlines, hotels, etc.), while the smallmedium food and hospitality industry (restaurants, bars, convention organizers) is experiencing one of the most difficult times since 9/11 or the 1987 crash as you can see in the infographic provided by Visual Capitalist. For those of us that have experienced a crisis like this before, we always remember the day the crisis started (at least the day we took it seriously), but it’s always hard to know when these things will actually end. So, back to the present day (for you). By now, you may be one of the many business owners/managers/ leaders experiencing difficulties. You’re probably seeing communities and families struggling, and if you’re like most, you’re probably feeling frustrated taking significant actions and not seeing the results you hoped for. So, what else can you do? CONTRIBUTOR ARTICLE It Starts With Better Evaluation Of The Real Damages At Hand… Knowing where you really stand is Step 1 in building a better roadmap to success. Here are the five key areas I recommend evaluating: [1] Your Cash Runway Having an honest conversation with your CPA/ Controller will help you to understand where you really are and what options are at your disposal. You need to go over these four basic questions. ¤ Do you really have as much runway as you think? ¤ Could you withstand a few poor quarters if the economy sputters? ¤ Have you made contingency plans? ¤ Where could you trim expenses without fundamentally hurting the business? CONTINUED ON PAGE 130

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