Who should a business owner call on for help when it’s “all too late”?
If the unthinkable happens and the business is in serious trouble, of all the available professionals, who would you call and why?
If it's really "too late" maybe your accountant? Figure out how to close up.
If it's not too late, it depends on your business.
- For an ecomm store failing because of low rankings, me. An SEO or digital marketing specialist (PPC, too. Faster returns.)
- For a brick & mortar store with enough foot traffic but low conversions, possibly a designer or stylist.
It just depends on the cirumstances ... vastly different businesses don't require a cookie cutter answer.
Depends on what "late" means! Businesses can always be recovered if they are selling something of value and not a financial mess. Takes courage, leadership and the ability to seek the right advice. Accountant, priest ,garbologist....you'll be amazed at where good advice may come from. Trust your gut!
Ideally someone else who has been through it themselves. There is no substitute for experience when it comes to this. If you are going to talk to any sort of business advisor, be sure to ask whether they've ever been involved in a failed business before. In the USA the venture capitalists often look for people with business failures to invest in because they know about the learning that comes with it. It's somewhat different in Australia though.
