The Lonely Business Owner
At times like these when the business is as lean as is possible and you are barely breaking even you are probably spending most of your time working in your business rather than on it. Dealing with day to day micro-operational issues means that the problems aren’t getting better you are the only person that can make those decisions.
Every time you look up is the situation is worsening?
Maybe it is so bad that you cannot see through the symptoms to the problems and as result not solution is possible. In circumstances like these the one thing that needs to be done is to get an objective opinion about the situation from an outsider.
There will undoubtedly be a time when taking formal insolvency advice is the only course of action and indeed that may also be a safe place to start. However, we are seeing many business owners only turning for help when the situation is irretrievable. The reality is that in most cases early action would have saved the business or created a better outcome. Turnaround professionals tend to see crisis situation with requirements for crisis management where the options are severely limited. It would be better for the client if they had approached the professional earlier thereby increasing the options. An Insolvency Practitioner might very well say that they cannot help because this is not a situation appropriate for formal insolvency procedures. In those circumstances, perhaps an outside management consultant may be able to help enabling a costs effective business retention solution with minimal impact on the business and its reputation.
If you would like to have an objective discussion, please contact me or my team on 01279 715333 or brendan.obrien@breezeandwyles.co.uk.
Every time you look up is the situation is worsening?
Maybe it is so bad that you cannot see through the symptoms to the problems and as result not solution is possible. In circumstances like these the one thing that needs to be done is to get an objective opinion about the situation from an outsider.
There will undoubtedly be a time when taking formal insolvency advice is the only course of action and indeed that may also be a safe place to start. However, we are seeing many business owners only turning for help when the situation is irretrievable. The reality is that in most cases early action would have saved the business or created a better outcome. Turnaround professionals tend to see crisis situation with requirements for crisis management where the options are severely limited. It would be better for the client if they had approached the professional earlier thereby increasing the options. An Insolvency Practitioner might very well say that they cannot help because this is not a situation appropriate for formal insolvency procedures. In those circumstances, perhaps an outside management consultant may be able to help enabling a costs effective business retention solution with minimal impact on the business and its reputation.
If you would like to have an objective discussion, please contact me or my team on 01279 715333 or brendan.obrien@breezeandwyles.co.uk.
Labels: business planning, Turnaround
posted by Brendan O'Brien at
14:22
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