You Are Slowly Being Boiled Alive And You Don’t Realize It

Small business owners, WAKE UP!  You are not OK  just because you have survived.

Yes, you have managed to survive the first wave of the recession and you are the best of what is out there as over three million of our brothers and sisters have closed their doors or have had them slammed in their faces and are now mere statistics. Their investments, their businesses, the jobs… all gone.

You managed to survive either because you downsized effectively, had extra cash to invest, stopped taking a paycheck (or took a barely adequate one) and somehow managed to figure out how to handle your debt load. Perhaps you received a six-month deferment or did a modification to lower the payments.

Nice work and good job, but you’re not yet safe, secure or emerging successfully from this down slide. You’re not yet prepared to weather an additional downturn or even a long-term lack of growth and development. In other words, you’re slowly boiling over time, but still boiling in the end. Your business will likely experience steady erosion as you attempt to pay a loan that is well beyond your long-term ability to service and definitely more than your business is worth.

I am delighted you survived, now let’s make certain you can emerge and succeed! More down slides are ahead of us and lower revenues yet to come. The economy is not healing despite what you read.

You must do the debt workout. You cannot survive forever servicing debt you cannot afford.

You are in a slow state of self-liquidation and are serving the bank’s needs to extract as much as it can from you before you crash and burn, but not your own needs to emerge and succeed.

Stop deluding yourself, all is not well. Your job is not complete. You must do the debt workout to truly emerge. Debt forgiveness is the only way to achieve this goal.

There will be more downturns and you must prepare for them.