California Staffing Professionals

A California Staffing and Recruiting Association

California Staffing Professionals

A California Staffing and Recruiting Association

California Staffing Professionals

A California Staffing and Recruiting Association

California Staffing Professionals

A California Staffing and Recruiting Association

California Staffing Professionals

A California Staffing and Recruiting Association

California Staffing Professionals

A California Staffing and Recruiting Association

California Staffing Professionals

A California Staffing and Recruiting Association

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Financial

Big Tip :  Cash is King. Get with your AR/AP/Financial team to make a plan for cash flow

  • Take advantage of current opportunities for low interest loans and grants related to disaster assistance by the Federal Government
  • Cut all non-essential overhead and negotiate discounts with lenders and vendors where appropriate
  • Don’t cut too deeply into marketing and sales budgets – follow ROI, not emotions
  • Cut operating expenses by a minimum of 30%
    •  If you have rent, ask your landlord for a 180 day rent reduction (they won’t agree, but might agree to 90)
    • All monthly expenditures need to be evaluated and cut unless they are absolutely necessary (offshore recruiting is a big one – drop it)
  • It’s terrible, but we need to cut staff. Better to have a half empty office that we can rebuild than having no office 
  • Request ACH/Wire payments from Clients
  • Remove all auto-payment functions on your accounts that way you can actively track money coming and going in your business accounts

Join CSP for more COVID related info and updates. CSP has 2 offers for you during this extraordinary time:

Offer 1 – register for a complimentary 60 day membership with access to resources to help you like webinars, member forums etc.

Offer 2 – Become a full member and get 25% off your first year using the code FirstYear25 at checkout.