How to save a business in crisis! We got a phone call from a manufacturing business on a Wednesday afternoon with the message – The bailiffs ARE COMING! By Monday afternoon, we had put court protection place. The court protection stopped the bailiffs in their tracks and bought the company 30 days in which to [...]
□ Are you worrying about where to find the money for the next payroll? □ Considering filing for a business bankruptcy? □ Afraid to answer the phone in case it’s a creditor? □ Meeting soon with your unhappy banker to persuade him not to call your loan today □ Searching the web for business turnaround, [...]
A couple of years ago I wrote an article on dynamic pricing based upon my own observations; an article I had read about beer pricing in Britain and some crystal ball gazing. My speculation was that the impact of cheaper and more powerful technology to gather terabytes of information on our buying habits would inevitably [...]
On February 2, 2013 the CBC aired an episode of Terry O’Reilly’s program, Under the Influence. The theme of the program was about choice and about how a customer makes a decision when a marketer gets a product in front of you, the buyer. Do I buy or not? Given too many choices of products or [...]
Great article from Wayne Vanwyck of Profit Guide Enjoy, Don Now’s the time to start your 10-step succession plan Question: If you’re on the railway tracks and you cover your eyes and ears to avoid a train barrelling towards you, will you still be squashed like a bug? This is not a trick question. The answer is [...]
In the corporate world, a turnaround specialist is brought in to restore the fortunes of a stumbling company. Typically, this solution means replacing entire layers of management, cutting cost and jobs, and much needed attention given to new and existing product lines. We read about them in the business section of the newspaper all [...]
Turn your business around with the right borrowing strategy The bank manager just phoned and asked for full and immediate repayment of the line of credit because the latest, (and they were late!), financial statements showed continuing losses and falling sales. The company’s assets are eroding fast and the bank wants its money back while [...]
A snap-shot of Financial Performance One of the first things a buyer does when faced with a potential business that meets his, or her financial and lifestyle criteria, is to consider the following factors: How much money could I make with this business? How much is the current owner taking home from the business? How much has the owner taken in recent [...]
I came across this article by By Jen Schiller with business tips from A Christmas Carol one of my favorite this time of the year. Enjoy, Don As the holiday season bulldozes on it’s sometimes hard not to feel like Charles Dickens’ infamous boss Ebenezer Scrooge in the classic ‘A Christmas Carol.’ And business owners [...]
Have you bitten of more that you can chew? Restructuring your Corporate Credit with a Business Turnaround Debt and its management are at the core of a financial restructuring process for your business. In a typical business turnaround, it is the debt to suppliers, landlords and the government that has become unmanageable. Some of the [...]
By Donald Robichaud Let us remember that the Christmas heart is a giving heart, a wide open heart that thinks of others first. You are all probably familiar with the Christmas time story of Dr. Seuss’, The Grinch Who Stole Christmas. Dr. Seuss was a favourite at our house and as my family gets a little bit [...]
Will your business fail because you can’t … ……..or won’t ask for help? Many business owners feel trapped and alone. But who can they ask for help? Can they ask competitors for help? Of course not! Employees don’t know the strains of being an owner and just want their pay cheque. They can’t help. A [...]
I was saddened this week to hear that Zig Ziglar had passed after a bout with Pneumonia. I was very fortunate to see Zig Ziglar speak in Ottawa in the late 80’s. He was a very powerful and dynamic speaker. At that time I was struggling to find my way in life and his speech [...]
By JOHN TREACE Special to The Globe and Mail I have taken part in many business turnarounds in my career, and time and again I noticed the same problems, regardless of whether the reason for the turnaround was a relatively minor situation or a reorganization after bankruptcy. Here are the ten steps that need to happen during [...]
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