So that's what I did, I along with my team of people I had hired around me quickly identified the biggest problems and then broke them down into smaller micro problems. When you do this it gives you the ability to not be overwhelmed and the perspective changes along with the thought process that everything is insurmountable. That was huge! Obviously the biggest thing was the bank! Now that they had some traction and a mere thought of some security, they became more aggressive! I hate banks, I haven't met one banker who understands business yet, I have met many business people who understand banks. I find that quite disturbing. But we will get to that. From the moment I took over, I had suppliers banging at my door, the bank was becoming more aggressive and the business was suffering, because it seemed like everyday was about putting out fires with things that had already happened, not implementing things that could transform the business. That is what I mean about banks, they are NOT your partner!! They lend you money and they expect you to conform with their formula and rules, once you don't, instead of trying to assist you, they turn around and become your nemesis. Maybe it is time that, that way of thinking is looked at also. But then there wouldn't be any need for these miserable "workout" divisions. I say they should change that and get a division in before those idiots and hire real business people and call it the "solve it" department. You know business people that have been there and really work with the company to help turn things around, instead of some knucklehead calling every day telling companies,"you know you are out of formula". Oh really, no shit! Do you really think we want to be "out of formula"? Anyway, everyday was a fight or struggle and to top it off, when businesses are in that position, all the banks do is suggest more professional, unqualified, do nothing services!! So you are struggling and they are forcing you to incur more legal fees, more accounting fees, more "workout" fees, all of which don't help you at all!!! You just get further in the hole!
That is why I have started a consulting business recently. I am on the businesses side! I could care less what the bank thinks and I work with the business owner's to try and straighten out what went wrong and keep the banks and all their impending costly suggestions away from these struggling businesses, so we can work collaboratively to find a workable solution!!
It is a very different model on the traditional bank authorized, professional services!! I am available for anyone who needs it!! Believe me it is 100x better than the alternative!! But anyway, as a new business owner, I was trying to be cooperative and I soon learned, that is the last thing you want to be!!
So really, if you are reading this and you have a business that's struggling contact me, I will help you, you not the bank you are in trouble with or the mess you are in! I can certainly assist you in that, but my target is bank's and you won't be sorry! Anyway, the mess I was in seemed nearly insurmountable, but There is always an answer or an agreed upon solution! I had no time to get my feet wet! It was sink or swim, in every seventh wave!! Joe