Can I sell my way out of Financial Crisis and manage a debt settlement?
Every business owner will ask this question during their course of owing a business. Statements such as that were a bad quarter, April was my slow season, last month was slow because of the weather are typical statements made by the small business owners who need.
Almost everyone believes that a few bad months or even years can be made up by a few good ones. Yes it is possible to sell your way out of a crisis. However, what do you do in the event when the big sales do not happen, the new product line that just came out flops? Or one of the worst case scenarios you have an order but you are on credit hold with your supplier.
If you find yourself in this situation it is important that you do not panic.
A prudent owner needs to develop a cash flow projection and prioritize which vendor/creditors will get paid first. It is important to evaluate which vendors are important to keep in good standing and which vendors you can survive without.
When a business owner does have cash flow problems it is often a good idea to hire an independent advisor to assist you during difficult times, Business Advisory Center has been assisting business owners since 1997 in managing cash flow problems. BAC is an expert in helping companies in managing debt settlements with the creditors, settle lawsuits out of court, and reduce your obligations that are between 22% to 50% – with payment terms on the reduced balance of 3 to 12 months.