With the PPP money and many businesses beginning to open up, what advice would you give those experiencing a sudden spike in cash and business? 

Perspective Finance

Perspective Banking Joliebernard

Jolie Bernard
Principal Owner and Chief Strategist
The Bernard Group
Often small businesses do not have the capacity to focus on daily operations along with prioritizing a communications and marketing budget that will effectively generate long-term brand exposure and revenue. So, if an influx of capital becomes available — whether through PPP assistance or increased business — I recommend focusing on developing and designing innovative communications and marketing campaigns that will position the business to welcome consumers back, increase sales and continue to build brand awareness and relevance. Now would be the time to be intentional about allocating some resources to further stimulate growth in the business by anchoring a solid communications and marketing strategy. Well-designed messaging that clearly articulates who you are, what you do, how you do it, and who you serve will have the best chance of adding value to campaigns that have the potential to elevate consumer relationships while growing the bottom line.


Perspective Banking Ariehrlich

Ari David Ehrlich, CFA 
Managing Member 
Ari David Ehrlich, LLC
If excess cash is created beyond quintessential core operating cash management, then an effort should be made to diversify and consider at least a small allocation to long-term strategic initiatives that have a low correlation or are even inversely correlated with the core business. Organizations that embrace this approach will not only create potential defensive revenue streams but will also enhance and develop the decision-making processes and human capital within their existing platforms.


Perspective Banking Ernstdenhartigh

Ernst den Hartigh
The Alternative Board New Orleans NorthWest
The three most critical short-term issues during a potential spike in cash and business will be supplies, cashflow management and staffing. Not enough supplies and staffing could lead to dissatisfied customers and can destroy future business, while insufficient cashflow can lead to bankruptcy. Stay connected with fellow small-business owners and share experiences and lessons. For those with a long-term view of the business, this would be the time to revisit your SWOT analysis and modify your strategic plan accordingly. If you do not have a strategic plan, this might be a good time to build one.