It happens all the time. In a tough workout situation, the business owner does not want to confront the issues and unfortunately frequently prefers to just wait, doing nothing, yet hoping something will change. Plan A, the preferred plan fails to materialize for some reason and the business owner is then forced to consider plan B. Disappointed, disastrous? No,There is always Plan B  and it may actually be better then Plan A…why?

Because plan A didn’t work!!!

For whatever reason Plan A failed to happen so onward we go. In many cases plan A fails because the business owner failed to “pull the trigger”. He simply do not implement the strategy usually out of fear, intimidation, or he was unable to accept his plight and take control of his situation, making the hard but correct and necessary decisions.

Then his property is in the process of being taken, his business is being shut down and liens and levies are implemented on his accounts and his receivables, law suits are initiated by vendors. It appears things could not be any worse.

I have always believed that out of disaster, successful emergence can occur. Let me remind you that the worse position your in, the more likely the best possible workout can be implemented. Thus while unfortunately frequently true, by bypassing plan A and suffering the consequences of further decline, greater  loss, fewer alternatives,  this all lays the foundation for a more effective workout.

Your creditors are more aware there is less likelihood of full recovery so getting less now may be better then waiting and hoping for more later, which will probably never happen.

The flip side of disaster can be a better conclusion.

Yes this is upside down thinking and not “normal” analysis, but when one is upside down, when your liabilities are greater then your assets, upside down evaluation for a successful workout plan to support re-emergence is the way one must think. It is the one situation were bad news is good.

Its a skill one can learn to do or better yet, under such dire circumstances with so much at stake, I strongly recommend you hire a professional workout specialist. This is not the time to learn on the job.

If plan A  fails, plan B can be better. Keep focused, committed and resourceful. Never say die and remember, anything can be worked out, so the challenge is to make Plan B work… better then Plan A.

The underlying issue is to overcome the fear and reluctance to make tough difficult decisions in a stressful downturn situation…it must be done, and you must do it, maintaining the course is not always the best way to go, especially when you are upside down and in crisis, in fact it may be the shortest path to disaster.

You must be fearless and a leader, making the hard decisions, facing your demons and conquering them. Many people are depending upon you to succeed. Make it happen. There is always a plan B.

Call me if you need some help. 413-549-2966.