What is the Cause of a Business Failure?

March 5, 2012 by  
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I often wonder what went wrong when I hear “business failure” used to define a closed company. In my line of work, I’m always especially dismayed to discover that a favourite business has closed without warning. It has happened several times recently. I was pondering this when seeing a “Closed for Business” sign at a favourite […]

What One Thing can make the Biggest Difference to your Struggling Business?

January 27, 2012 by  
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What is the one thing that makes a difference to any struggling business?  That question was posed to me last week, by the author of a book-in-progress on small business management. The answer is clear, when you work with troubled companies.  Of course, some make it and others don’t.  The chances for success are pretty slim.  Ninty-five percent don’t make it […]

Save my Business – When I Get Around to Ask for Help

December 31, 2011 by  
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It goes without saying that this has been a tough year for many businesses.  Small to medium-sized companies that need help to recover are our bread and butter.  But the media’s emphasis on bad news has affected the mindsets of many business people, who sometimes forget that others are thriving in this economy. The frustration for us and others in our business turnaround specialty is that this […]

The Best Time of Year to arrange a Business Debt Settlement?

November 10, 2011 by  
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As we approach the year-end, this can be the best time for your company to work out a business debt settlement.  No firm likes to carry delinquent receivables into the New Year, especially when it coincides with the accounting year-end. It’s an established fact that the longer a company has to wait for a B-to-B receivable, the […]

Struggling to Stay Afloat, but want to Pay All your Business’s Creditors in Full?

October 26, 2011 by  
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I was speaking with an entrepreneur this week who is struggling to stay afloat, but wants to pay all his business creditors in full.  It’s an admirable goal, given his situation.  But it’s wishful thinking. If he holds this course, without being able to immediately boost his declining top line, he’s likely to go down like the Titanic.  And that’s […]

How Sustainable is a Business after losing its Creative Force?

October 10, 2011 by  
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How sustainable is a business, at the cutting edge in its field, after losing its founder and creative force?  Clearly, the loss of Steve Jobs has many of us wondering about its long-term impact on Apple.  His spectacular contribution has been profound, in a business that has impacted virtually all others.  But I’ve been considering a more […]

Should you file for a Business Divorce?

September 3, 2011 by  
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Sometimes, you just have to file for divorce from your troubled business.  Unless, of course, you are tempting fate by operating as a sole proprietor or partnership.  Or if you don’t have a business pre-nuptual agreement in place.  This means that you may have signed personal guarantees up to the hilt.  So if your company goes down the tubes, you go with it. In […]

Should you let your Business Default?

August 12, 2011 by  
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There’s justifiable anxiety about the possibility of the US government defaulting in obligations to its creditors.  This was brought to a head with the initial inability to agree on the terms needed to raise the national debt ceiling, followed by Standard & Poor’s decision to downgrade the country’s credit rating. This situation affects all of […]

Emotion is an Enemy of Business Debt Settlement

July 29, 2011 by  
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The collector called to tell me just how much he thought of our business debt settlement proposal.  “We’re insulted”, he spat.  Here we go again, I thought. Business collectors deal with debt as their bread and butter.  They have to be objective and know something about the company being hounded.  And they should take time […]

Put your Business Debt Settlement Offer in Writing

July 12, 2011 by  
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A common mistake made by business people, when attempting to settle business debt, is that they don’t put the offer in writing.  There are so many good reasons for doing so. You have to set the scene and tell an honest, effective story.  You know that there’s  a reason why you just cannot pay the […]

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