No creditor wants to own your business. But when revenues are not sufficient, BluePrints for Business can help you develop a strategy to turn your company around and work out a plan with your creditors to meet both your needs.
Businesses are frequently caught by surprise with financial problems. When things are going well, difficulities, issues, or inefficiencies in the daily operation may not be noticeable because there is sufficient cash flow to mask these practices. However, if more strain is placed on cash flow, such as sales falling or the expansion of operations or personnel, these inefficiencies and problems raise their unwelcome heads. The result is that the symptoms of the real problems become very noticeable.
The Turnaround and Workout process is designed to identify and address the root causes of the distress.
BluePrints for Business begins by taking a snapshot of your business and analyzing it in the context of your market. Some of the aspects of your business that we review are:
• Sales trends with comparable businesses in your market
• Workflow, Production, and Sales Processes
• Management and HR Systems
We suggest ways to cut your costs and raise your revenues. We take the numbers to your creditors and negotiate with banks, vendors, and credit card companies to pacify them and stop the flood of phone calls so the management team can focus on more important matters, such as streamlining operations, increasing sales, and collecting accounts receivable.
If you, your advisors, and creditors agree to proceed, we set up a program to see you through the turnaround process. We work with you to determine what we need to do for your company, what we can do with your staff, and which business functions we can teach your staff to do. We set up milestones to monitor your progress and develop contingencies to meet new conditions to help you stay on track.