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Business planning is a challenge, especially during times of uncertainty. Use this guide to help you and your team do your best work.
By Caterpillar | Updated: March 28, 2022
We know that business planning can be a challenge. And it’s particularly difficult during times of economic uncertainty. But during these times, it’s even more important to have a business plan in place. Cash flow management, contingency planning, and strategic decision-making are just a few of the things that can help you continue to do your best work as we face the year ahead.
Cash flow management is always important, but it’s particularly critical during economic uncertainty. Proper cash planning will allow your business to pay its bills and continue operations.
Learn how to master cash flow management and weather an economic downturn in this article from Cat® Financial.
Make sure you have the tools, equipment and materials ready for the next job opportunity, whenever it arises. To do this, you’ll want to do proactive repairs and maintenance, and track current and upcoming projects and determine what resources you need for each one.
Lesson learned from 2020: be prepared for the unexpected. Pandemics, natural disasters, new regulations, and recessions can all impact your business. But even small changes, like losing a good employee or a big contract, can impact your bottom line. A contingency plan can help keep you operating when the unexpected happens.
Be pro-active, not reactive. Sometimes you have to make reactive decisions, but having a strategic business plan will set you up for long-term success.
When you use Cat® equipment, whether it’s one machine or an entire fleet, you’re part of the Caterpillar family. And this family looks out for one another. Need a machine fast to take on a new job? We’ll make it happen. In a tough spot financially? We’ll help you through it.
Equipment downtime can delay your projects. Read about the top ways to prevent downtime, including the use of equipment monitoring and proper storage steps.
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