Think twice, perhaps you should NOT attempt to preserve your business opportunity. In fact, get out while you can!

For many of our clients our objective is to preserve assets and strip off the debt. The idea of preserving assets is to provide a future opportunity for the business owner to buy back their business and continue on after reducing or eliminating the overall debt….yes very interesting, very attractive to many business owners who are buried under crushing debt and facing foreclosure. A successful debt workout plan can work well for many.

They are filled with optimism, if only they can rid themselves of debt,  waiting for the turnaround so they can re-emerge and re-establish their business position once again, purchasing back their business and continuing on…

A great plan for many….but one hidden tragic flaw.

What if the economy continues to tank, meltdown, self destruct? What if the recession lasts for allot longer then some think…years, many, maybe five, maybe more?

Maybe the best plan is to sell the assets and move on to to the next chapter of your life.

Think about it… We are emotionally attached to making our business work. Fulfilling the dream. Reaching our pre-determined goals that we have invested so much of our heart, soul, money and time into.

So blindly, completely focused and committed we run our selves, our finances, our families, into the turmoil of working ourselves endlessly to reach that elusive goal, business success.

This may be a good thing, there is nothing wrong with hard work and commitment to a goal, but if the goal is unlikely, or even impossible to reach or highly unlikely, we frequently still run into that wall daily, determined to make it work, no matter what it takes.

The true spirit of an entrepreneur.

I respect this attitude as it is the fuel of success. But there must be a mindful analysis, a scientific consideration, a business reason to fight the battles as if it is truly impossible or extremely unlikely,  why risk it all again?

Here is the deal. The economy is very sick. Unemployment is out of control, the housing sector is in a total meltdown, the financial sector is all but out of business, and on it goes. There will be greater erosion of our economy. There will be many more failures, defaults and foreclosures, many more.

Does it make sense to re-commit ourselves to a business that has already become a victim of this economic and business meltdown? If the economy is destined to decline further and then eventually bottom out languishing on the bottom for another long while and then the slow emergence out of this huge decline.

The question being, does it make any sense at all to seek out a second chance?

Even if the debt is removed from your business can it  operate successfully without the revenue it needs to succeed? Sure eliminating deb reduces the necessity for greater gross revenues, but can any business survive, even without debt service without the revenue the business requires?

Many more businesses will fail over the next number of years. Why fail twice?

Yes we can strip off the business debt. Yes we can reduce your personal guaranty to an affordable loss. Yes you can buy back the assets or the business again and make another run at it without the bone crushing debt.

If there is no revenue remaining even eliminating the debt will not convert a losing business to a winner.

Think twice, Your best plan may be to sell your business or business assets, enter into a debt relief program such as the strategy we provide, and then …do something else. Your business may not be the best vehicle possible for your future financial success.

Consider your options, maybe it is time for a major change.