11 ways to avoid bankruptcy

Here are 11 action immediately. Applying too you without asking any questions you may avoid having to take a days the doors of a Commercial Court.

1 - Start by putting the nose on your accounts. Take a blank sheet of paper and draw two columns:

* The first showing all charges to be paid in the short and medium term (1 year). Make the addition of this column, it represents your debts. What you need ... Put yourself in this head, it represents reality.

* The second column shows the accounts receivable (invoices customers, assets ...).

The figures under the eyes, take well aware of the situation, accept it as such. This is the best way to really recognize the problem and act to find solutions.

2 - Stop spending money. Stop or at least restrict all kinds of money immediately. Take a merciless hunt for waste and always ask yourself the questions: "Is it necessary? Can we do without it and what are the consequences? .

3 - Take control of cash and follow it with the utmost attention every day. You always know where the money goes, how assignment. For example, maintenance of premises can be done in-house or should you go through a cleaning company?

4 - reschedule your liabilities. The moratorium amicable or partial abandonment of claims against cash, although operations are carried out that really works.

5 - Evaluate the performance of your staff for each service (administration, production and technical, commercial). For the survival of the company, certainly positions will be eliminated redundancies and made without delay.

6 - Please return the money out. In terms of recovery, only the hard work and discipline are paying off.
7 - renegotiate your long-term contracts (rent, lease) and if possible, try to restructure your debt long term.

8 - Sell Non-performing assets (office equipment, computers, old machines) and a maximum removal.

9 - Reduce or remove your advertising, you keep only those related with certainty to customers and money.

10 - Reduce your expenses and operating costs. Substantial savings can be easily performed (office supplies, maintenance contracts, fixed telephone and mobile phone ...).

11 - Finally the sinews of war, establish a cash flow forecast in the short and medium term. It must be realistic, reliable, and most importantly, you lead to an obsession that should be yours: overcome your debts and regain a healthy state in your accounts.

If your company deserves to be saved, by following these 11 recommendations, you should arrive at the situation and so you avoid having to take a days the doors of the Tribunal.