It is a sobering thought that our great nation was totally unprepared for the attack on Pearl Harbor. It eventually made us much stronger, but at a huge cost in lives and treasure.
The 9/11 attack in New York signified another, possibly more sinister, kind of danger from which lessons have been learned. We’d better stay vigilant.
That being said, our small to medium sized businesses are all too frequently managed in ways in which they are left unprotected and open to attack.
It is frustrating to be called in to help struggling incorporated companies, or LLC’s, where the owners and possibly their spouses, are all tied up with personal guarantees. Or where judgments have been filed and unattached assets have already been plucked at a sheriff sale. Or where a myriad of steps could have been taken to protect the business and its officers from distress.
Every business runs into a constant series of problems to be resolved. The thing is, nobody makes all the right decisions, all the time, to steer it in the optimal direction. We cannot always predict or react quickly enough to fickle market realities, or to the impact on technology and everything else that determines our revenues.
You sell yourself short if you operate your business unprotected from the downsides. It doesn’t take much to fall under attack. Business people don’t always see it coming, or may be in denial that real trouble is brewing.
If you and your business are not bullet-proofed, it can be a very tough to experience a personal and business Pearl Harbor.
Your company and livelihood are worth defending and fighting for. Prepare for the worst and plan for the best. You don’t need to go through the unnecessary stress of a business failure just to make you stronger in the long run.
Tags: 17, 40, 41, business debt blog, Business debt relief, Struggling companies
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