Mental health and well being during business tough times
Maintaining the mental health and well-being of any business owner is critical to achieving a successful restructure.
PERSONAL STRESS
Managing personal stress through a business turnaround is a key to project success
We understand that many business owners have put their heart and soul into the business (sometimes over several decades). When market conditions change or external relationships that may affect the business change, feelings of despair and failure by the business owner is common. We know that you have made emotional and financial sacrifices to make this business work. Sometimes the psychological factors affecting business owners are understated. Our process aims to help you through the emotional journey that you will embark on trying to turn your business around. Keeping mentally strong and knowing that you have support is a key to your ongoing health.
Most business owners who have gone through an insolvency issues or a business turnaround situation realise that keeping your family close during these times is critical to your survival. The unconditional love of family and close friends often keeps people going. Don’t shut out your family! At these times, increasing the time spent with supportive family and friends is critical. They are are important buffers for you in these stressful times. Be mindful of what is most important to oneself and one’s family… your family needs you, not your business. Despite the outcome of your business situation, you are not a failure! You may have made some mistakes along the way but you have also gained a wealth of knowledge and skills that few people can appreciate.
Don’t let dark thoughts cloud your better judgement
It’s not uncommon for business owners to experience “dark thoughts“ and thoughts of ending it all during times of immense business stress. At times these can become overwhelming. Our experience has shown that in some dire circumstances, it is common for business owners to contemplate suicide. Leanne Faulkner, entrepreneur and founder of an award-winning skin care range, knows first-hand the impact a small business can have on your mental health. When her successful business struggled in the wake of the global financial crisis, she took it personally. She said “I was a go-getter and an entrepreneur. But as business slowed I was more and more affected.“ “I couldn’t separate myself from my business. It was the worst experience of my life. I could no longer go to work and was on the lounge all day crying.“
One of our core objectives is to help you manage stress related issues. We aim to bring objectivity to your situation and manage the positives in a crisis. If you’re having dark thoughts now or have contemplated suicide, now is the time to pick up the phone and call for help. One of team would be most happy to have a conversation with you that can help you find solace in your circumstances. We’ll also refer you to some great specialist help if you need it!
If your business or yourself is experiencing financial troubles, WE CAN HELP YOU. We have great professional advice to help you get things back under control. We provide comprehensive, tailored advice at a rate you can comfortably afford.
Insolvency isn’t the end of the world! There are many options available to you and providing you act quickly and receive advice from one of our trusted professionals, we should be able to get you back to moving forward rather than treading water or drowning.
Companies and individuals face financial difficulties for many reasons. Sometimes a lack of sales is to blame. At other times it could be that a major customer has gone into liquidation with thousands of dollars owing to you. Sometimes you could have made some poor business decisions that you now know weren’t right. You’re not on your own, business owners like you make thousands of decisions everyday (sometimes in the haste of things) mistakes are made.
If you know in your heart that something’s probably not right…it probably is.
If you’re heart and mind is telling you that your business is in trouble, it probably is! If your financial records are showing on-going decline, then it’s probably time to talk with a professional who can steer you back on track.
Our experienced team can focus on the key issues that your business faces. Debt, staffing issues, dealing with the ATO can sometimes cloud your vision. Our teams works with you to evaluate the business health and plan for the future.
We work with you to develop a structured plan to move the business forward. This can involve financial, legal and other structural ways to get the business back to its’ optimum condition and health while ensuring your sanity throughout the process. Planning minimises your risk!
We work with you to legally restructure the business and protect its’ assets (and your own) throughout the process. Debt, legal and staff structures are carefully considered with an objective to ensure that the business is stable and able to move forward.