The full title of this book by David Borgenicht & Mark Joyner is
The Worst-case Scenario Business Survival Guide: How To Survive The Recession, Handle Layoffs, Raise Emergency Cash, Thwart An Employee Coup and Avoid Other Potential Disasters!
In my review posted on Amazon.co.uk, I gave the book Three Stars. This means Worthwhile.
Here is my review.
A helpful guide for any business owner with a business in trouble
David Borgenicht has written a series of Worst Case books and, in the introduction to this one, admits that the others are written more for entertainment than practice. This book is different and is intended as a serious guide for a business owner with a business in trouble.
It is split into five main sections:
Sales and marketing emergencies
In each section, the two author have asked various business experts on their tips before writing what they call Basic Training. These are practical but sometimes easier to say than do. At the back of the book are suggested”what to say guides” for various situations.
I have a few concerns.
First, a company in trouble needs to be aware of its legal obligations. There are different levels of trouble but, if insolvency is threatened, you must know where you are. There are serious penalties for trading beyond the point of no return. If you need to reduce your employees, it must be done in the right way.
What you do to get out of trouble depends on what caused the problems. The book is tactical, looking at how to reduce the impact of the symptoms rather than strategic, which involves looking at and fixing the underlying problems.
The book also ignores financial control. You need to understand what it will take to get you back above the break even level and you need to be forecasting your cash flow, probably for at least 3 months to make sure you’re not digging a deeper hole in a few weeks time.
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