Nobody needs to tell you we're experiencing turbulent economic times. In this climate, providing great design and superior service is not enough. As a design business professional, you have to choose to turn these current economic challenges into real opportunities to strengthen your firm. Design firms don't die from lack of profits- they die from lack of cash. Long-standing firms have survived through every economic downturn-from the energy crisis of the 1970s through recessions in the early 1990s and post Sept. 11. The formula for succeeding in this environment is simple: When you manage cash effectively, you win. In this column, I will provide you with some tips and advice to help you make the critical cash management decisions required to weather economic storms-and more importantly, help you come out of the storm even stronger.
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