Guidance 3 - Strengthen your D&O insurance policy. I advocate that you set a target date to sell the loser. Generally this offer will swing the deal for you. Is fixing my firm essential? If you must get money from outside sources (see Lesson 15), your chances of existence dwindle quickly. Besides, the transition from the old enterprise to the new enterprise is almost always seamless. I advocate that you put a time limit of 18 months on getting your company turned around. Taking an angel's money means you will have a hands-on partner in your business. Discuss the turnaround plan and get their alignment to it. Competing in a saturated market does not mean you should run your advertising like a negative political ad campaign. In a previous section I covered supplier money, accordingly I'll not repeat this information here.

a) Outside company conditions like an strengthen in competition, general payments of running a company, difficulties inflicted by local hooligans etc. Accordingly, be sure your purchaser service is good. Anyhow if you can delay the buy, then postpone your approval to help your near term cash flow. Nevertheless, you should realize that a bankruptcynotation are going to remain on your loan report for 10 years and you can't file another Chapter seven again for 8 years.