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Asking Billionaire Investor - Andrew Wilkinson - How To Prepare For The Economic Collapse
My First Million
Do You Stress Test Your Business?
The worst outcome for a business is total loss, but missing opportunities can also be detrimental./nIt is important to be prepared for potential financial stress by conducting stress tests./nStress tests involve modeling different revenue scenarios and assessing the ability to handle challenges like layoffs, long-term contracts, and debt./nConsidering scenarios where customers delay payments can help evaluate the need for cash reserves or credit lines./nConducting stress tests can provide peace of mind and help businesses better manage risks.
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