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    4 Replies Latest reply on May 31, 2011 8:58 AM by Don Todrin

    Successfully navigating the downturn: downsize, reinvent, tighten controls, debt workouts. How are you doing?

    Don Todrin Adventurer

      Friends, it is a new world and we need new skills to successfully navigate the downturn, for example we must downsize to force our business model back to profitability. We must know our numbers better and tighten our controls as profit is being squeezed by increased costs, competition and reduced rev enues. We must reinvent ourselves focusing on our competitive qdbantages and highest profit activities. We must use the internet for marketing and most important we must explore and implement debt workout strategies including secured loans workouts and SBA guaranteed loan workouta. Our revenues are down yet the debt remains as high as it was when we were earning much more., This is an equation for destruction. Yes debt can be workled out.

       

      How are you performing these strategies? How are you succeeding in this downturn.