Figure out what your options are
Recovery & Change
Recovery needs time, the earlier you start the better your chances.
Don’t underestimate the value an independent set of eyes and different perspective on your affairs.
Finance & Administration
The top four reasons business owners say they failed at their business
Managing financially challenging situations
I deal with financially stressed situations. I believe in open and transparent processes, ensuring information is understood and free from bias. With this information you can confidently make decisions, so you can strive forward. First 'seek'. You should know literally thousands of businesses fail every year for all sorts of reasons. Sadly a number of these businesses could have been saved if the right help was at hand. You need to find the real problem, then 'solve'. Once the problem has been identified you can solve it. That’s where I come in. I’ll seek out the problem, solve it, so you can strive forward and thrive. I’m passionate about getting things right and making sure the right things get done, so you can get on with life. Seek, solve and strive.
Business failure solutions
Sometimes it's best to shut it down
Turnaround and recovery
If you can get in early, you can save it
A good early option
Ask for an independent assessment
Unscrew the back of a watch. If you’re not handy at pulling things apart and putting them back together again, don’t try this with your watch. The workings of a watch are fascinating, a centre wheel, an outer wheel, a spring, bridge, pallet and balance are just a few of the bits making a watch tick.[…]
I found this article 30 Mistakes. The opening paragraph says it all – business owners, entrepreneurs make mistakes that can be avoided. It’s true in my experience. I haven’t seen anyone with a novel way of failing at business. What I like about this article is that in centres around contemporary business and the issues entrepreneurs[…]
Here’s what CBNC says are the 11 common reasons for business failure. # 1 – Running out of cash 50% of businesses fail in the US because they run out of cash. The US is second only to countries – Japan, Korea, Greece, Portugal, Ireland and Spain. There are any of number of reasons why[…]
The names of those interviewed on business failure have been changed. Failure is not an option; made famous in Ron Howard’s movie Apollo 13. Failure is a relative term. Perhaps you have spent the best part of your life growing up, being educated and working in an environment where the failure is not an option[…]
As early as 118 BC, the people of Rome approached Magistrate, Lucius Verginius Rufus, to take control of the assets of bancus ruptus citizens. Fast forward to 2002, the collapse of Enron and WorldCom forces the introduction of the Sarbanes-Oxley Act. Then in 2008 the largest US insolvency plays out, the collapse of Lehman Brothers reporting a $4 billion trading loss.[…]
Construction on ASIO Headquarters, the budget blow out of nearly $173 million and the losses experienced by small business has fuelled debate surrounding the failure of small businesses. Why has this ASIO HQ led to business failure and who is responsible are the obvious questions. In 1992 I wrote a story for the Canberra Times[…]
Thousands of businesses and people struggle with debt every day. And Most do nothing about it until it’s too late, putting life long assets at risk and losing precious time. Take action Get control. It’s the best move you will make. This is who I am and what I do. Let me help you I will speak with[…]
The second instalment in Eddie’s The Humans of SMEs series, in which he speaks with Adrian Faccioni, a successful Canberra entrepreneur who built a globally successful piece of technology, only to lose it all and then rebuild.
Eddie speaks with Gregory Mowle, a researcher at the University of Canberra, about his research into bankruptcy, changing perceptions of bankruptcy and ways people can move forward through bankruptcy.
Goodspeed. Can a Canberra-based business take on the biggest bicycle manufacturers in the world? Myles thinks so. This is his story of passion, persistence, and opportunity.
Be mindful and calculate your risk when you have expansion plans.
Mick Burgess has plenty of experience in business, owning one for decades, running others and now mentoring business owners.
Shelley teaches us that there are always opportunities, have a listen.
The challenges at the growth stage of the business life cycle is almost like starting a business again.
Suzanne Kiraly discusses her latest book covering business success stories
Businesses are at their most venerable when they start operating. This episode explores the issues confronting business owners when they first start their business life cycle.
The second phase of the business life cycle is its ability to survive. This episode explores this phase.