Turnaround

Bankruptcy is often seen as the end of the road for a broken business: an admission of failure. But despite the stigma surrounding it, bankruptcy can actually allow a company to restart, renew, and improve-as long as it's done right.

When Gregory K. McDonough faced his own professional "death spiral," he took a deep dive into the bankruptcy process and realized that bankruptcy could help revive his business. Now, he draws on his knowledge as a Certified Insolvency and Restructuring Advisor and his personal experiences to create a practical guide to staying mentally and strategically strong while navigating bankruptcy. The Turnaround provides vital information and coaching on the key elements of the process, including the following:

What bankruptcy means
When to declare bankruptcy
How to make hard decisions
From whom to get help
When to dissolve
How to protect your personal life
What plans to put in place to rebuild

Going bankrupt does not mean giving in. With the right plan of action, commitment, and mind-set, it can be the first step in turning a bad situation into a positive outcome.