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 . . .
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