Mr. Steve Harrop, Managing Partner at GPS-Accounting.com gave this presentation at the Proseedasia.com event on the 17th of September 2020

1. Business Recovery & Sustainable Growth
Steve Harrop, Managing Partner

2. “It’s true”
99% of people will believe a statistic just by telling
them it’s true

4. Cut costs with caution
Deep analysis and careful consideration of what every line of expense means to
the company.

5. Cash is King
Forecasting cashflows has never been more important. Just looking at your bank
account balance daily is not good enough.

6. Remove emotion from the equation
Decisions are best made with a cold heart

7. Think long term
Business is a rollercoaster. Make decisions now with future prosperity in mind

8. Don’t sell the crown jewels
Carefully consider what assets are the real contributors to the business.

9. Reinvent yourself
Assess your assets and strengths to see whether they can be put to good use
elsewhere

10. Don’t put off investment
You’re already thinking long term so do not dismiss investing now for that better
future

11. Tell the truth
Communicate regularly with your creditors and other stakeholders, they probably
already know you are in trouble

12. Don’t flog a dead horse
If it’s not working and you do not think it will ever work, cut it

13. Maintain proper bookkeeping
A print out of a bank statement is not bookkeeping. Timely reporting of accurate
data is critical.