And regardless of his answer, find out which bills are being paid and which ones are not – and why yours is one of those not on “pay” list.

Funneling down into an excuse with a more precise line of questioning uncovers true intentions of a debtor. In fact, this technique actually helps debtor see himself acting in a way that is not congruent with his own beliefs. That exposure will help him make more honest and forthright decisions in future.

If something doesn’t feel right during a collections call question it! Throw a whole series of sharp, penetrating questions at it until it cracks. Then both sides can identify and solve sense of problem.

(end)

Do not personally guarantee any loans or long term leases! There is almost always an alternative.

Take a hard look at all possible means of cutting expenses. Make tough adjustments sooner rather than later. Don’t wait until you have no choice.

Don’t be too proud to get advice! Ask other, possibly more experienced, successful business people. Talk to an attorney. Hire a business consultant.

Consider taking in a partner or selling your business. Again, plan ahead, ask a reasonable price and don’t wait until you are desperate.

I hope I’m wrong but I believe there is a good chance that economy is going to get worse before it gets better. Now is time to get lean and mean. Take necessary steps now to weather storm. In a year or two things should be better. If you can survive or even show some growth now, there will be a great opportunity to prosper ahead. Recessions weed out a lot of weaker and shady competition. They tend to clear muddied waters.

Weathering a recession tests your patience. It is very frustrating when sales are sliding or stagnant despite your best efforts. Here in Florida we have rip currents at beach. Swimmers who drown try to swim straight to shore against current, survivors ride with current until it ends and then swim to shore. Don’t fire all your help and try to work 16 hours a day to offset economy or you will burn out and drown. Think twice before you double or triple your advertising budget. Get back to basics of what worked when you first started. Try to relax, anticipate and do best you can. This too shall come to pass.