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

Step 6 to Financial Recovery: Detailed Diagnosis

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

Step 5 to Financial Recovery: Fiscal First Aid

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

Step 4 to Financial Recovery: Initial Diagnosis

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

Step 3 to Financial Recovery: Generic Treatments

As we continue through the Process to Financial Recovery (as defined by the Government Finance Officers Association) we come to Step 3: Generic Treatments. At this point, after recognizing the problem(s) in the business and mobilizing a core team to carry out the strategy for recovery, cost-cutting techniques may need to be enforced without hesitation … More Step 3 to Financial Recovery: Generic Treatments

Introducing Our New Series: The 12 Step Process to Financial Recovery

As part of our ongoing effort to talk about the world of finance, and taking into consideration the present financial situation of many companies and individuals alike all over the world, we are starting a new series that will cover the 12 step process to financial recovery that was developed by the Government Finance Officers … More Introducing Our New Series: The 12 Step Process to Financial Recovery