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
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
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
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
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
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
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
Here we are now at the mid-point in the process of financial recovery. We’ve talked about recognizing that the business is in trouble, getting your core team of executives to get some strategies figured out, running some generic treatments to eliminate certain options, and also putting together a plan of the available treatments that you … More Step 6 to Financial Recovery: Detailed Diagnosis
In our series on the 12 Steps to Financial Recovery we have so far talked about recognizing that there is a problem, mobilizing resources (including your team), trying out some generic treatments (which is the beginning of the process of elimination, really) and then getting a more in-depth diagnosis underway. This brings us to Step … More Step 5 to Financial Recovery: Fiscal First Aid
We have been talking about the Process to Financial Recovery (as per the Government Finance Officers Association) in our series of the same name so far and we have talked about recognizing, mobilizing, and coming up with generic treatments. Today we are up to Step 4: the Initial Diagnosis. Now some will ask: why are … More Step 4 to Financial Recovery: Initial Diagnosis
Capital Corp Merchant Banking 