The Video Transcription:
Hello and welcome to our website. My name is David Murray. I’m Ireland’s only Financial Surgeon. The best way to explain this is if you or your business owe 2 million to banks or suppliers and you genuinely only have €100,000 left, and I mean GENUINELY, then we will negotiate with your bankers and your suppliers to accept this €100,000 and to write off the 2 million. This will allow you and your business to continue to trade in the future.
I’ve been operating on business clients for almost 30 years. In fact, in one 25 year period, I claim never to have lost one patient on the operating table. And I’ve no intention of letting your business fail.
I want today to explain my Top 10 Tips when a business is in financial trouble. I’m going to explain these tips 1 to 10 here now and then later I’m going to explain these concepts in more detail in bite-sized video clips.
- Do not be an ostrich.
- Advise your bankers early.
- Do not be an employee coward.
- Sharpen your scalpel.
- Prepare a break-even business plan.
- Reduce your lease payments.
- Term loans – convert them to interest only, even if it’s only for a period.
- Prepare realistic payment plans.
- Make sure you pay yourself and the directors weekly – very weakly.
- No Matt Talbot or Jonah syndrome.
Download the “Top 10 Tips” PowerPoint Presentation below.