Change management in times of economic uncertainty

Posted on: March 19th, 2020

CFO Strategic Partners has over 20 years of helping clients manage change in business.  Whether the cause is due to high growth or economic downturn, having a change management plan is what separates those who thrive from those who do not survive.

Our current economic climate is uncertain, and change is inevitable.  Hope is not a strategy and does not inspire confidence in your team, nor does it ensure you maximize the value of your organization.

Right now, our team of CFOs is having discussions with our clients to ensure that we are not only assisting them to proactively manage the changing economic climate, but to also ensure they are positioned to capitalize on new opportunities that might be created during this turbulent time.

During the last financial crisis, we assisted our clients to successfully weather the economic downturn.  Companies who had a plan in place to address important hurdles began to flourish while many of their competitors were unable to keep up.  Those who were able to not only survive, but also to thrive, had the following in common:

  • They created a plan in advance
  • They had the proper tools available to make decisions proactively, and company leaders were not afraid to make tough decisions
  • They had strategies in place to proactively manage cash flow, mitigate risks and creatively reduce large expenses when needed
  • As the economy turned, they capitalized on opportunities by having the cash reserves to offer extremely competitive bids on projects or purchase inventory at low costs, when their competitors were unable to do so
  • They maintained a strong labor force as a result of loyalty created with outstanding employees, who recognized and appreciated the positive actions taken during the tough times 
  • They became industry leaders when economic conditions changed

We know the current downturn will not last forever, but we also know from experience that decisions made during this time will have a long-term impact on your financial future and the future of your organization.

How prepared are you for these changing times?  What are your biggest risks and potential new opportunities?  How do you ensure you thrive and, if possible, evolve? 

CFO Strategic Partners can help.  Our CFO consulting firm’s expertise can provide you and your team with significant value to face current economic uncertainties.  With our outsourced CFO services, we can provide an assessment of your organization’s sensitivity to the rapidly changing climate and recommend strategies to help you thrive. We can help create a plan and then, if needed, assist in executing your most critical priorities. Our scalable pricing model allows us to deliver an exceptional CFO value proposition to our clients without having to incur significant expense or additional overhead.  The peace of mind of knowing you have a plan to manage change during this challenging time can make all the difference to your life and to the culture of your organization. Visit us at http://www.cfosp.com or call 407-426-8288 to learn more.

NOTE:  Given the current evolving economic climate, CFOSP is publishing more frequent communications on this topic based on what our clients are experiencing and our firm’s expertise.  Stay tuned for updates or click here for more content on this topic. 

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