I have asked this same question a couple of times and have not gotten much, if any, response. Have you ever used any of the main four bankruptcy predictors to help your clients keep their businesses afloat? More importantly, maybe, are you even aware that such things exist?
Wayne Brasch
Hi Wayne,
This is a topic near and dear to my heart. I even have a bankruptcy predictor program on my website. I would like to see all acccountants use tools to throw up red flags when their companies are heading towards trouble. The next big step is bending their client's arms to seek help. I have not rolled out my marketing program yet, but my whole service is gearted to helping small companies ($5mill to $50mill), avoid business failure by gaining control of their cash and finances, right sizing their company and focusing on their core competencies. I do this through coaching and mentoring as well as detailed questionairres and analysis of their financial information and reports from their IT departments. The earlier that turnaround experts are called in, the more likely our chance of success.
Thank you for your response. I believe even smaller companies than you indicate with which you like to work deserve to be helped as well.
Wayne Brasch
I thought the most accurate bankruptcy predictor was an owner living in a fantasy land!
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