4. Redirect any future cash receipts / revenue into non SVB accounts. Don’t throw fresh money on the fire.
5. If SVB is your only current bank. Open accounts with 2 other AA or A rated banks.
Re: SVB crisis. Solid tactical list for CEOs and finance teams impacted. Additional items:
— Rebecca Skvorc (@rebeccaskvorc) March 11, 2023
1. Consider factoring receivables
2. Consider asking customers to prepay for a discount
3. Put dates on key decision points
4. Confirm the date payroll is pulled (not paid to EEs) https://t.co/SqWoTpIzES
Here\u2019s a quick breakdown the SVB situation if you\u2019re still not sure what\u2019s goin on
— Toby (@tobydoyhowell) March 11, 2023
pic.twitter.com/WdsWlTFjw5
SERIOUS POST:
— Robert Sterling (@RobertMSterling) March 11, 2023
If you\u2019re a founder/CEO who banks at SVB and you don\u2019t have a CFO & a cash-flow forecast for the next 13 weeks, I\u2019ll work with you to build one ASAP. 100% pro bono.
I\u2019m an investor and SaaS CFO who has built countless of these. DMs open. Or [email protected].
Ivor Cummins BE (Chem) is a former R&D Manager at HP (sourcre: https://t.co/Wbf5scf7gn), turned Content Creator/Podcast Host/YouTube personality. (Call it what you will.)
— Steve (@braidedmanga) November 17, 2020