Listed below will be ten reasons companies succeed in business turnaround.
They may seem rather simple at first, but believe it — they’re not so simple to do. Everybody has “arm chair quarterback-itis.” The economy is at fault, the world at large, interest rates, the attitudes of the time, mother in law, wife, kids, husbands, neighbors, my car broke, the dog bit me, my foot hurts, my head hurts, nobody cares, the government — blah, blah, blah — the list is endless.
Turnaround is not for the faint of heart. Turnaround is a second chance.
There is only one second chance! After that it becomes like the cassette tapes of days gone by, every time you make a copy the recording sounds worse. Instead make use of your second chance so that it becomes an investment in the opportunity of you and your success. We all make mistakes and we will continue to make mistakes, however mistakes do not cost a second chance. In TurnAround your head is a dangerous neighborhood and you should never go in there by yourself. The battlefield is in the mind. We stop our own forward motion with free will and dumbass thinking. We go shopping with what needs to be done. We do the things that are convenient.
Turnaround is not convenient. Turnaround is Critical Profit. Critical Profit is hard costs plus one dollar. If you can pay your bills and have a dollar left you are a rich man. Instead we say, “we paid the minimums and now we only owe, a gazillion dollars…” All bad and leads to nothing good. If you are strong enough to succeed it takes more than a “want” or a notion — it takes deliberation, concentration, committed wisdom and a tremendous amount of terror overcome. Consistent, daily intensity on a list that “must” be done is the only way out of the “Black Forest.”
Insolvency, Bankruptcy, Reorganization — these words are powerful challenges and require an inner strength that comes from Faith, Know-How, Experience and plain and simple Bravery. You want to get somewhere and leave your mark on this Earth, best you start with making a solid You, first. Mind, Body, Spirit, the inside job of saying, “I will not fail”, “Teach me”, “Solutions at the risk of looking uncool”, “Making the rules Make My Company Strong”, and finally, “loving life because I have another day to fight!”
- We realize we didn’t work that hard and because we didn’t do all the things we were suppose to do we created problems for ourselves.
- We realize that we need to ask Heaven for the strength to solve the challenges each day rather than wait for another time.
- We realize that we overspent when we clearly had not enough money coming in and caused a cash flow crunch.
- We realize that it was me who used the charge cards and re-financed the house and line of credit and now the money is due.
- We realize that we were looking for a self help book to give us a quick fix and then acted like we were going to save money — however we never quit spending.
- We realize that we borrowed money instead of cutting back to positive cash flow and then caused all parties to be angry because we can’t repay personal loans.
- We realize the family lawyer gave us advice that we did not follow.
- We realize we borrowed money from the company and it’s not the CPA’s fault that we didn’t pay it back and now it is taxable income.
- We realize we just set many late notices on our desk and hoped the problem would just go away.
- We realize it is our fault that lawsuits and IRS demand letters came in the mail.
Don’t be ridiculous == a lone wolf dies a death in the wild because of vulnerability. Partner with a team of people that been there, done it and got the T-shirt from the concert, so to speak. Call now, 760.662.9668 you do not need to be alone anymore.
Give me a call, nobody can fix a terrible financial situation alone. Invest in a single phone call.