If you must get cash from outside sources (see Lesson 15), your chances of existence dwindle quickly. The small business entrepreneur should wear several hats without a finance department and a battery of accountants. In this instance, just shutdown your business right now. Sources for internal funds commonly come from two sources, going cash flow from operations and changes in current accounts on the balance sheet. Finally, just as losing clients demoralizes the department, gaining new ones are going to increase morale. In the Individual Protection Phase, you will set up personal financial resource protection safeguards. If you locate unpaid judgments, get your legal adviser involved or use a judgment recovery service (much like a collection agency) to get the money you won in legal forum. If you are going to turnaround your firm, you should have high energy, which only comes from a positive attitude. These you must include in the reorganization therefore your turnabout can move forward. A good attorney-at-law can assist you in many ways when your enterprise is in trouble. Contact these organizations and find out what info they have for company turnarounds or additional company money. Mention that you have hired a turn around coach or boss if you have.

Cut out support services for clients that slow pay or don't pay. Perhaps you are in danger of losing your business to your creditors and you have a lot of liability. For example in the receivership test, fair financial resource value is hard to measure accurately. Anyhow, if your debt forgiveness is significant, you should work with your Comptroller and debt intermediator to plan for any potential tax debt.