We have come, finally, into the action stage of our 12-step financial recovery process. We have analyzed, come up with some generic solutions, run some alpha tests, gone back to the drawing board, delved deeper into diagnosing and then run some beta tests. So now we should have come up with some solutions that work and we get into gear with Step 7: The Recovery Plan.
A Recovery Plan – by its nature – is the strategy by which you would achieve the result you’re going after as you go through the recovery process of your business. The result in this case would be, well, financial recovery. The recovery leadership (that’s you) can be assisted by such a plan in terms of focus, strategic direction and tactical formation.
The development of your Recovery Plan will also allow for the organization leadership (still you, depending on the size of your company – otherwise it’s your core team) to initiate and/or rehearse the behavioral changes necessary to reach the ever desired financial sustainability.
That being said, and before the plan can be developed properly, the leadership must be sure to analyze goals and urgencies all while taking into account the effects upon finances and the team as a whole. Documenting the plan can and will also work to establish confidence with the shareholders, should you have any.
So get going on your Recovery Plan and stay tuned for Step 8: Longer-Term Therapies.
Always make an informed decision in all matters,