How to develop a practical and realistic plan to satisfy creditors and to survive:

  • Realize that the business is in economic crisis
  • Reinvent the business mission and vision
  • Redefine the business’ value proposition
  • Refinance the business
  • Redefine leadership and roles
  • Rethink marketing and communication
  • Redistinguish from competitors
  • Redesign the organization and network

 

Ask yourself the following questions:

  • What is the future potential of the business?
  • Is restructuring worth the time and energy that it takes to work on a recovery process?
  • Is the business willing to revise and renegotiate?
  • Which debt need to be restructured and their amounts?
  • What amount can be realistically put towards these debts?