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Save Your Small
Business
10 Crucial Strategies to Survive Hard Times
or Close Down & Move On
Ralph Warner, J.D. & Bethany K. Laurence, J.D
Your Small Business Companion
I am not my business, and my business is not me.” now close your eyes
and repeat that three times.
got it? we hope so, because treating your business and its chances of
survival in an objective, arm’s-length manner is your best chance to make
good strategic decisions in these difficult economic times.
start by facing the fact that in the next year or two, hundreds of thousands
of small businesses will fail. some will go bankrupt, while many more will
simply close the doors for the last time. Enterprises that were struggling
long before the economic downturn began are all but doomed. But many
other businesses can be saved if their owners act quickly and decisively to
cut expenses, increase low-cost marketing, and revamp their entrepreneurial
models to allow them to succeed in this recessionary environment.
in a nutshell, this book will give you objective tools to help you decide
whether it makes most sense to continue, hibernate, close, or sell your
business. if you decide to continue, we will help you start shoring up your
business, with ten strategies you can start to implement right now to get
your business back on track.
some of our suggestions are tried and true. you may know that you need
to cut expenses fast and hard so that overhead won’t gobble up your reduced
profits, but we’ll tell you where to look first to make cuts (and what to leave
alone). other strategies will require you to fundamentally rethink your
business, so you can develop innovative new goods and services and reach
new markets. no question, accomplishing this will be challenging—but
if your existing entrepreneurial model is failing, you know that your very
survival depends on changing it.
in addition to providing what we hope is advice that will help you save
your business, this book will give you the essential legal information you
need to prioritize your debt payments, protect your family’s personal
assets, renegotiate your debts, and, if necessary, file for business or personal
bankruptcy. with a little effort, you’ll learn information that may prove
crucial to keeping a roof over your head and a car in your driveway.
Business
10 Crucial Strategies to Survive Hard Times
or Close Down & Move On
Ralph Warner, J.D. & Bethany K. Laurence, J.D
Your Small Business Companion
I am not my business, and my business is not me.” now close your eyes
and repeat that three times.
got it? we hope so, because treating your business and its chances of
survival in an objective, arm’s-length manner is your best chance to make
good strategic decisions in these difficult economic times.
start by facing the fact that in the next year or two, hundreds of thousands
of small businesses will fail. some will go bankrupt, while many more will
simply close the doors for the last time. Enterprises that were struggling
long before the economic downturn began are all but doomed. But many
other businesses can be saved if their owners act quickly and decisively to
cut expenses, increase low-cost marketing, and revamp their entrepreneurial
models to allow them to succeed in this recessionary environment.
in a nutshell, this book will give you objective tools to help you decide
whether it makes most sense to continue, hibernate, close, or sell your
business. if you decide to continue, we will help you start shoring up your
business, with ten strategies you can start to implement right now to get
your business back on track.
some of our suggestions are tried and true. you may know that you need
to cut expenses fast and hard so that overhead won’t gobble up your reduced
profits, but we’ll tell you where to look first to make cuts (and what to leave
alone). other strategies will require you to fundamentally rethink your
business, so you can develop innovative new goods and services and reach
new markets. no question, accomplishing this will be challenging—but
if your existing entrepreneurial model is failing, you know that your very
survival depends on changing it.
in addition to providing what we hope is advice that will help you save
your business, this book will give you the essential legal information you
need to prioritize your debt payments, protect your family’s personal
assets, renegotiate your debts, and, if necessary, file for business or personal
bankruptcy. with a little effort, you’ll learn information that may prove
crucial to keeping a roof over your head and a car in your driveway.
