Turnover is vanity, profit is sanity - normally the phrase ends there. But we're in recession and cashflow is king.
A third of the world economy is forecast to be in recession in 2023. In normal times businesses tend to be focused on profitability, yet this isn't, on its own, always what can cause the most damage to a business during a recession. Cashflow often has a disproportionate effect on the amount of business failures in times like this. A business might be profitable, but people tend to hang on to cash, take longer to pay suppliers, and otherwise strong businesses can find themselves in difficulty because of their cashflow.
So what can be done? Well it turns out there's a great amount for sales teams to focus on that they might not normally give the same attention to as they would outside of a recession.
Claire Cologne is from the sales training and technology provider Imparta, which is running events this quarter for sales leadership all about strengthening cashflow. She joins Learning News to explain.
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