12 Best Practices For Crisis Cash Management

Jack Welch once said, “If I had to run a company on three measures, those measures would be customer satisfaction, employee satisfaction, and cash flow.” Unfortunately, most non-profits—and even for-profits—in the health and human service sector fall short on the third measure, which sounds the death knell in a crisis.

My simple mantra for managing cash in a crisis—“Accelerate cash inflows and slow down cash outflows.” To do this, I suggest an aggressive focus on 12 elements.

1. Start with a budget

Most organizations tend to believe that their budgets are simply “on hold” in . . .