Our cash flow improvement business grew fastest during the Global Financial Crisis (2008 – 2010).
I’d telephone a referral and say, ”we help firms like yours by providing payment options to ensure your clients can pay you on time” and they said “sign me up”.
During that time, cash flow was a critical issue for all businesses, including professional service firms.
It was raining and we were offering free umbrellas. We helped hundreds of professional firms get paid more quickly.
As the economy slowly improved, cash flow remained important but was rarely THE critical issue for most businesses – but it is again now.
Every business is cash flow conscious now – or should be.
Professional advisors have stepped up to this challenge. They are working incredibly hard with their clients to explore accessing government subsidies and working on business pivots. Survival mode stuff.
These days the very best advisors discuss with clients both WHAT (needs fixing) and offering help with the HOW (to fix it).
Can you imagine going to the doctor and getting a diagnosis of your problem, but no prescription or course of action to fix it? Of course not. The best advisors have a bias for action.
Rest assured, clients appreciate that the best advisors offer not only words of advice, spreadsheets and strategies but also help with EXECUTION.
The best advisors love that Elvis lyric: “A little less conversation, a little more ACTION, please”
Does your advisory firm have a bias for action?