* Step 4 - Force fit the design to two or three layers of management for small to medium size corporations (four to five layers on large companies) with manager taking somewhere between 10 to 15 reports each. * Recognize what went wrong with the business and how to avoid it in the future. Also, if you desire to play hardball with the money-lender, I'll show you how to do that too in the final section. * Collect all liabilities from your customers. The Wall Street Journal covers numerous stories of big name firms taking Chapter 11 at the first sign of trouble. If used appropriately, they are going to stave off bankruptcy.

I advise you money them out right away when you will be able to. If you own a corporation (or an Limited liability company or LLP) or are an officer in one, you might have signed a individual pledge on some of the enterprise's debt. Good ideas will not die on the vinein a flat org structure. If you start working your strategies and start relaxing a little, everything starts to fall into place and soon you'll have turned around your business. How to Decide a fair price for your small company. Make sure that you're upbeat as part of this assessment, but do not hide the company's difficulties. If you don't have the time, then delegate this authority to your senior bosses and keep consent of the larger items. The technique is expensive costing anywhere from $50,000 on up. Anyhow, if this is not enough, you must lightly reprimand the offender in a public setting such as a senior leadership meeting or monthly jobholder meeting. This can be much effort, but if you've only a few large invoices outstanding at anytime, this procedure makes sense for you.