Acting as a Financial Consultant, create a plan for a small business to establish an emergency fund. Determine the ideal amount of reserves by analyzing the company’s operating expenses, fixed costs, and potential risks. Suggest strategies for building up the fund over time without affecting the company’s cash flow. Provide insights on how to manage liquidity during an economic downturn. 
<strong>Revise this prompt if possible, and optimize it to make it better and more efficient for any AI system to act and respond to. 
If possible run your optimized version.</strong>