How to focus when your business is in trouble

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It’s hard enough to focus when times are good and especially hard to do when life is not working out. Here are some thoughts on what you can focus on if your business is in trouble.

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Bankruptcy, Receivership and Division 1 Proposals

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FACT: Many businesses fail. There are many reasons why a business fails or why a company declares bankruptcy. Most business bankruptcy happens because debt owed to secured creditors like banks and lenders or unsecured debt owed to vendors, suppliers and/or the government becomes unmanageable.

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1 opportunity overlooked by (almost) every entrepreneur

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“Every dollar we spend has to count right now”

Every business today is in the people business. Entrepreneurs often overlook the opportunities locked up in the people that are working for them or with them. A business can find new revenue or improvements to their margin by engaging the people that are actually doing the work. In my experience, an entrepreneur will pay close attention to the people in their business when times get tough and when every dollar has to count. It’s unfortunate but the reality is that limited money and resources force creativity which becomes the catalyst for changes and improvements. Where is the best place to find creativity? From the people in your business.

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