You should give this reward to someone who has spent at lot of late nights and early mornings. Your lenders want to know that you are continuing to do everything possible to pay them. When you own a small company (or an Llc or LLP) or are an officer in one, you might have signed a individual pledge on some of the corporation's debt. When you have individual guarantees on your debts, the turnaround and liquidation strategies for insolvent companies will not work for you. You need to say with conviction to your lenders that you have a plan for fixing your enterprise before they will give you a break on what you owe. When you can't afford the time during regular working hours, meet over two consecutive weekends, or meet in the evenings from 4:00 p.m. You will probably see at least a 10% discount if not substantially more with just a few hours of work. Without their expenditures, you might just as well close up shop. These cuts include our COO, VP Sales (already terminated), and our VP Human resources. We have not found a buyer yet, and it might be some time before we can market.

Your patrons and vendors will desire to understand when you're a going concern and how the layoff affects their partnership with you. While it no longer carries a stigma, a terminate is still stressful for all parties. You must review the budget against results at least monthly, and you should reprimand anyone, including yourself, who goes over budget without consent. To prepare for this, you must appoint a second-in-command when you have not already done thus. While a regional firm doesn't bring you the Big Four's credibility, having an audit from a regional company is much better than not having one at all.