It’s natural to feel a certain measure of despair when your business goes into debt, but if you use it as an opportunity to reevaluate your core assumptions and strategies, then this can also be time to initiate necessary changes and make your business stronger.
Not sure where to begin? Consider some of the following recommendations.
Take your business plan out of mothballs
Intractable debt could be the result of a problematic business plan — one that was either too ambitious, no longer applies, or that simply needs to be adjusted at the edges.
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