HK Turnaround Business Blog

Is Your Home an Investment?

'The collapse in home values is seen by most people if recent polls are to be believed as a temporary problem that will go away soon.'

Meet Me Half-way

'In your own business, if you are in the position of needing to go to your lenders or shareholders for more money to get through the crisis, you need to demonstrate buying the ticket first.'

Code Words and Good Questions

'One of the problems with trying to figure out what exactly is going on right now is decoding what it is that our leaders are saying.'

Imagine

'Imagine that you opened a business and at first your product was unique and you had a monopoly on its production. Imagine that people just loved your product and couldn?t get enough of it. Imagine that as a result you got very rich.'

No Percentage in Pessimism

"There is just no percentage in going negative right now unless you enjoy wallowing in misery."

Unavoidable Betrayal

'And in addition to the cost of the programs themselves we must add at least another 30% for the cost of administration, so for every $100 billion it is really $130 billion. This money can only come from taxation or just plain printing it.'

The Best We Have?

"But for now consider this; does anyone really believe that the folks in congress are the 535 best in the United States?"

There is Still Money to be Made

"The sun is going to rise every day, people will still need to carry on their day to day business, and we will all find a way. The key to making money therefore is to service those needs."

Bad or Worse

"Recession is here and it could be a bad one. This makes it all the more important that we make the right choice for president."

Really?

"Well, just call me Kyle because as I have listened to the so-called experts and leaders on Wall Street and Washington, I am just reduced to asking, really?"

Unintended Consequences

"Oh, it may take a while for this to be evident, but nonetheless, I think that down the road we may all look back on this decision as the straw that broke the camel?s back and led to economic disaster."

Panic

"I mean, given this week?s failure of Lehman and quick sale of Merrill Lynch coupled with the impending AIG disaster, a rational person could be driven to worry a bit."

Friendship can be a Sinking Ship

"Many years ago I had a friend working for me as a salesman....The problem was that he was a lousy salesman."

Paralysis through Self-Flagellation

"It is just pointless to dwell on failure. There is just no upside to it."

The Company Terrorist

"Using myself as an example, I once hired a young woman who turned out to be the company terrorist. What I mean by this is that every single person she came in contact with, well, hated her and this created havoc and discontent. "

When Will We Ever Learn?

"Once again it comes down to the realization on the part of us all that the government is NEVER the best arbiter of what is good for us."

Wishing is not a Plan

"... When is this financial downturn going to be over and did I think it was soon. ....You see, they were looking for wishful thinking, not a plan."

What You Can't Teach

"It has been my observation that the talent to envision and create a new and dynamic enterprise cannot be taught."

Timing is Everything

"I have a theory about this that postulates that we elect presidents like most of us date."

When Rumors Run Wild

"Funny thing about rumors, no one knows who starts them and they are hard to stop."

Big Doesn?t Mean Forever

"...The beauty is that for small businesses we do not need to consult with Boards of Directors, negotiate labor contracts with Unions, and deal with layers of management...."

The Family Curse

"Sell the company before you die, hopefully long before so that you can blow as much of the money as possible on fun before you do pass on..."

Is this a Crisis?

"...Every time something does not go as planned, it?s a crisis!..."

There is Nothing More Craven?.

"What else would you call it when two smart men who have risen to the top of their profession make public pronouncements that are absolute nonsense?..."

Creator or Implementer?

"Regardless of whether you?re a creator or an implementer, you need to determine where you reside on the scale and act accordingly..."

The Tipping Point

"...we as entrepreneurs are facing serious threats..."

Gratuitously Nasty

"...he was not asking my advice (just bragging a little to impress me).."

The Middle Road to Independence

"Good franchises won?t get involved with you unless they think you will succeed as it reflects on them in the end. These are the people that you want to deal with..."

Conventional Wisdom = Disaster & Opportunity

"I understand that usually I blog on business only, but if things go well in your business then you are going to have money to invest and so I am going to share some advice..."

Founder?s Disease, Big Time

"Founder's Disease is the need of some entrepreneurs to maintain control and be right even to their own detriment or destruction"

Less is More

"In the end it always seems to work out for us and it always seems, in the prism of our own historical view, a result of something we did...."

The Accidental Entrepreneur

"If you inherit a business, don't feel guilty. Just thank your lucky stars and enjoy the wealth...."

The Enemy of Good is Perfect

"In you own business, be decisive and never look back..."

Picking a Partner

"My rule? No partners unless they are vital. Otherwise you can just find and hire the talent..."

It's All About Attitude

"If the a giver of advice is also going to profit from the advice, be skeptical. It may be true, but there is at least a 50% chance that it is not. Always get another INFORMED opinion. "

It?s Not Easy Being Green

The Latest Trend in Business? Going Green

The Common Denominator: We Need Money!

Herb Kay discusses business constant need for money especially in a credit crunch.

The Big Picture Matters

In today's weak economy entrepreneurs should cut back, stock up on cash and look for fresh perspective.

Pride Can Lead to Business Failure

Sometimes Ego Can Get in the Way of Sound Business Judgement

Oh The Things I Have Seen!

Herb Kay talks about some of the more outrageous experiences of being an entrepreneur.

I Can't Afford Help!

Is hiring a consultant the same as just hiring another employee? Herb talks about the advantages of going with outside help.

What's the Point of Your Business Plan?

A business plan should serve one function: Raise Money. Herb discusses the good, bad and ugly of business plans and how to avoid making the most common mistakes..

How to Deal With a Crazy Partner

Sometimes you just end up in business with a crazy person ? and that?s not good. But keep in mind that it also does not have to be the end of the world. Here are some helpful hints on how to survive the ordeal.

Work for the Money: Otherwise Get Out of the Biz

People work for all sorts of reasons, but the only legitimate reason to work is to get paid. If you are in business for any other reason then you have problems that cannot be solved on the business front ? and you should get out for everyone?s benefit.

Get the Outside Help You Need to Turn Your Firm Around ? Even if It Tastes Like Medicine

Almost each and every person who needs their company turned around struggles with the idea of doing the tough work: figuring out why they are struggling and what should really be done about it. But that?s really the only place to start: and HK Turnaround is here to help.

Britney Spears and the Art of Business Self-Destruction

As the recession looms, remember to get your house in order now. But if really don?t know how, reach out for an expert or a mentor before it?s too late. As this regard Britney Spears can act as a cautionary tale?

Please Don't Let Politics Get In the Way of Reality

Politics aside, there are at least three very serious and substantive matters that need to be addressed urgently in this country if we are serious about safeguarding our economic health. They are health care, taxes, and interest rates.

Hope for Good Trouble... and Maybe Just Sell Your Company, Like the Big Boys

Why not do what the big boys do? If you just do not seem to have the resources or know how to pull your company back from the brink, finding a buyer is one route. If that seems to be the best approach, just make sure you have good advisors.

$100 a Barrel Oil is Here: Get Prepared for the Worst

Oil has finally hit $100.00 a barrel. What does that mean for our economy?

Big Government Strikes Again

Herb Kay discuss Big Government

Founder's Disease

"Founder's Disease", a disorder whereby entrepreneurs think only they know how to manage and run their company, can and has lead to the fall of many businesses and makes any attemps at saving that business very difficult.

Same Behavior Equals the Same Result

Repetition of the same behavior with expectations of a different result is at the root of why many entrepreneurs fail.

There is No Profit In It

Most small businesspeople are increasingly negative regarding the economy and their own business prospects, with most worries having to do with cash flow.

Credibility and You

Credibility is the first thing to leave a business owner in trouble. A strategy to deal with this for those business owners is to bring in an outside party to deal with all involved parties.

When The Chips Are Down

There are really only two kinds of businesses: one that is in trouble or one that sooner or later will be. The solutions will only come after looking at the big picture in detail, and you are not the one to do that.

Entrepreneurs and Regulation

Business failures are happening across the country. This has in turn caused stock market convulsions, Federal Reserve intervention, and of course, politicians to pontificate.

Causation vs Correlation is the Oft Confused Issue

Bad companies have bad cultures and great companies have happy cultures is a false idea as happiness is always correlative.

Great Countries Have Great Money

There is no Trade Deficit - that is a phony statistic that dates to the early part of the last century before globalization.

The Triple Whammy of Hidden Taxes

Illegal immigration, the falling dollar and rising energy prices will all cause taxes in the next few years to increase.