Friday, 24 November 2017

Cash is king in difficult economic times

By Lucy Woods, Viatel
Wednesday 01 July 09

Like other businesses, telcos must manage costs, cut off non-paying customers, and focus on investment planning; managers urged to 'eat their own children'.

Managing business in a financially challenged environment takes nerves of steel, a cool head and the ability to focus on what really matters. It also helps if the management team has huge personal drive to see results improve in this environment, as well as a passion to succeed and an ability to stay focused on absolute priorities. In my experience, when financially challenged, there are some fundamental priorities that will help a business to survive. First is cash, the single most important issue. That may sound obvious, but most of our working lives we have been encouraged to manage to P&L targets. Running a business for cash is quite different…

Managing business in a financially challenged environment takes nerves of steel, a cool head and the ability to focus on what really matters. It also helps if the management team has huge personal drive to see results improve in this environment, as well as a passion to succeed and an ability to stay focused on absolute priorities. In my experience, when financially challenged, there are some fundamental priorities that will help a business to survive. First is cash, the single most important issue. That may sound obvious, but most of our working lives we have been encouraged to manage to P&L targets. Running a business for cash is quite different…

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