Today, many business owners are caught in a cash crunch. Although many entrepreneurs are in denial as to their situation, many other entrepreneurs do not understand the process necessary to identify and address the difficult issues needed to survive the crunch. If you are facing a cash crunch, being passive and hoping the business will correct itself with either an economic upturn, new clients or a large order more often than not turns out to be wishful thinking. - By Morris Bocian

Operating your business as usual and failing to make a concerted effort to revamp your company’s cost/operating restructure, could put you out of business. The best time to restructure is not when your company is on “life support.” The best time to effectuate change is when you have the cash, available credit and ability to implement change. If you foresee material adverse market conditions or a structural change in your industry/business, it is your responsibility, as the business owner, to develop and implement an action plan that, at a minimum, will enable your company to survive.