The 5 Critical Parts of Your Business Plan

In Part 2 of our Best Business Plan Series we go into the core elements of the Business Plan that are impactful. If you missed Part I, please click here to find out more about how to create a business plan that will wow investors. So what makes a good business plan? You need a … More The 5 Critical Parts of Your Business Plan

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(Extra) Step 13 to Financial Recovery: When Recovery Fails

Over the course of this Financial Recovery series, we have told you there are 12 steps to recovery (as defined by the Government Finance Officers Association (GFOA)) – but, in point of fact, there is a 13th Step.  This step is about what happens when all prior 12 steps just aren’t enough. Unfortunately, the financial … More (Extra) Step 13 to Financial Recovery: When Recovery Fails

Step 12 to Financial Recovery: Financial Sustainability

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 … More Step 12 to Financial Recovery: Financial Sustainability

Step 11 to Financial Recovery: Managing the Recovery Process

In our series on the 12 Steps to Financial Recovery, we now come to the second-to-last step: Managing the Recovery Process. Now that the necessary leadership has been determined and has been seeing to the success of the recovery endeavour, it is time for the leader(s) to be put into action by making the difficult … More Step 11 to Financial Recovery: Managing the Recovery Process

Step 10 to Financial Recovery: Recovery Leadership

For the past 9 steps in our 12-step series on Financial Recovery, we’ve been taking you, our readers, through the steps (originally outlined by the GFAO, see http://www.gfao.org) that you have to walk to get your business (or company’s business) back in the black and on the way into recovery and out of whatever hole … More Step 10 to Financial Recovery: Recovery Leadership

Step 9 to Financial Recovery: Long-Term Financial Planning

Having done the preliminary work of assessing and working through the early stages of a business’s problems and road to recovery, we’ve recently talked about actually hashing out the Recovery Plan and then putting together some long-term therapies – now we’re moving on top Step 9: Long-term financial planning in the GOFA’s guide to financial … More Step 9 to Financial Recovery: Long-Term Financial Planning

Step 8 to Financial Recovery: Long-Term Therapies

In continuing with our series on the 12 Steps to Financial Recovery, we are now moving on to the next step.  So once you’ve done your in-depth diagnosis and have figured out your Recovery Plan for bringing your business back onto the road to financial recovery, you now need to discuss Long-Term Treatments, which is … More Step 8 to Financial Recovery: Long-Term Therapies

Step 7 to Financial Recovery: The Recovery Plan

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 … More Step 7 to Financial Recovery: The Recovery Plan