Recognising an Issue
The very first step on the road to recovery is the same across the board, troubles in your business are no exception, and that is recognising that there is an issue in the first place. If you’re reading this, chances are that you have already taken this first step. If so, congratulations, you are one step closer to recovering and getting your business back to a profitable state.
There is no shame in getting help. In today’s marketplace the road to recovery can be treacherous if travelled alone, however with the expert advice of a firm like Elliot Johnson you can be guided away from the many traps that lie ahead. With a fresh pair eyes and in-depth knowledge, the essential areas for restructure can be identified easily and the right strategies for turnaround can be devised to give you and your business the best chance for success.
The first thing we will look to do together, after you have engaged us, is to clear some space between you and your Creditors. We will do this by obtaining a holiday period from your debts, which will give you and your business space to move on to the next step without the stress of overdue invoices or looming legal action. It will also be an opportunity to start building a healthy cash flow again, as your business temporarily won’t be burdened with backlogged invoices.
Together we will go through your business with a fine-tooth comb and discover exactly where your problem areas lie. Elliot Johnson have extensive experience helping businesses across a broad spectrum of industries restructure their businesses, and we can lend fresh eyes free of the emotional attachment you may have to your business. With our help, you can be sure that the issues you are facing will be properly identified.
Plan for Success
After the thorough review we undertake together, Elliot Johnson will help to create a detailed action plan to help you move forward and resolve any issues we’ve found. This could include re-structuring departments, identifying new markets, creating new marketing or sales, obtaining new finance or even leveraging insolvency procedures (although this is always a last resort).
This is where we roll up our sleeves and implement the plan we’ve created together. It is at this point that Elliot Johnson will negotiate with your creditors on your behalf to get you the best possible deal on any outstanding liabilities. Throughout the implementation process we will be there to guide and aid you. This process is dynamic, and together we will review the situation as it evolves and adjust our strategies to best meet the demands of the business as it changes.
At this point we have reviewed, planned and implemented. All structural changes are made, and the deals have been done. By following the expert advice of Elliot Johnson, you have set yourself up for the best possible chance of future success.