Dan Lambert, CEO of PathologyWatch and a new contributor for Forbes YEC, recently shared his experiences and recommendations to help businesses brave the coronavirus pandemic.
Launching a new venture often has its challenges. Still, with the onset of COVID-19 and the economic downturn that followed, Dan and cofounders Greg Osmond, MD, and Michael Torno responded to these uncertain times with a plan that helped these seasoned entrepreneurs measure the severity and duration of this impact and leverage their expertise to navigate the situation best.
“Scenario analysis helped us understand how severe the impact would be and how long we could sustain at current levels of operation,” Dan explained. “If the downturn is short, you might need more of a scalpel than a buzz saw. Once the scope of the impact is identified, there are a few tools you can employ.”
In this article, Dan shares 11 ways to best finance your business in a downturn and develop a company framework that supports your company’s strategy that leads to better decision making and business success. Read about ways Dan analyzes assets, credit options, and sales opportunities based on his proven 80/20 rule.
To read the full Forbes article, click here.