At long last… we have reached the 12th and final step in our financial recovery series: the Outcome of Recovery, or Financial Sustainability. Finally!
The goal throughout the process has been to institute a long-term financial plan in order for you as a business owner to become more adjustable to the ever changing conditions of the financial world, more resistant to potential financial grief, and also more capable to regenerate should any setbacks arise in the future.
This is called Financial Resiliency.
Being financially resilient is what you are considered to have recovered from financial instability and gone on to implement the necessary strategies, control mechanisms, budget techniques and put into place early warning systems to be sure future financial shocks can be withstood.
3 key characteristics engendered in being financially resilient and sustainable are:
2) decentralization, and
In this series you have learned about how to recognize fault lines, how to mobilize your personnel, how to deploy your resources, how to reinforce your weak spots, how to conduct surgery on your own company and how to begin the process of repairing the damage and making sure that you have put up safeguards that prevent any such future situation from occurring.
And now we have reached this final step, this 12th step. And you are, in effect, recovered.
But what if recovery still hasn’t happened? What if you have followed all the steps and still… it doesn’t work?