Business Doctor
How to Turn Your Headache Business into a Debt-Free Money Machine
Number of pages: 224
Publisher: Garrett Publishing
BBB Library: Entrepreneurship
ISBN: 978-1880539255
Editorial Review
This book, loaded with fascinating examples of turnaround successes, is essential for every business owner. From a synopsis of why companies fail, to ways to resolve creditor problems, its strategies should be read by anyone with a faltering business.
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Wisdom to Share
Panic and confusion are normal when your business goes bad, but you'll get over your confused thinking more quickly if you learn how to clear your head so you can think straight.
Failing companies must rely upon unconventional strategies that go contrary to Management 101 principles. You can't think mostly about profits, as do well-heeled managers.
Big corporations organize in-house management teams to oversee their debt restructuring. Smaller companies rely more on their professional advisors, who better understand the workouts and can design a more objective and workable financial arrangement.
A successful loan bailout involves more than numbers, or even legal and financial one-upmanship. Those things provide the framework within which to tackle the problem loan, but loan workouts are still very much a people game. Personalities and psychology are important ingredients.
Every successful loan workout represents a logical solution to a bad situation between the borrower and the lender. It takes a borrower and lender, working together in good faith, to find that logical solution.
While there are plenty of doors, the odds of knocking on the right door can be absolutely staggering.
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