When your back is up against the wall and you've got debt collectors knocking on your door, how do you pull yourself together to deal with this kind of business pressure without cracking a hissy fit? 
Here are my 5 simple steps to moving forward when you feel like you are being sucked backwards;
1. Get A Grip!
First port of call is to acknowledge that you are currently up shit creek and something needs to be done about it. This may be a hard thing to hear, (so I'm gonna say it anyway!) you put yourself in this situation and it is up to you to take responsibility to get yourself out of it!
Avoid the responsibility and the solution will avoid you!
2. Map Out Your Current Challenges
When the pressure is on, it is hard to take a perspective on your situation that would swiftly bring it to a resolve. Sit down for 20 minutes and map out all of the challenges you are currently having.
Don't assume the worst, find out what is really going on and then you can make informed decisions on how to respond to it. I.e. what bills are due and when, what kind of cashflow are you expecting this month, can some of your bills be extended out to take some immediate pressure off?
3. Moving Forward
Once you have clearly identified what is going wrong, then you can map out a way forward. Identify the most urgent and important things and place in order. Then next to each one write down a list of creative ways that can assist you in solving these challenges. Think logically, think big and then bring it back down to realistic and doable.
5. Shut Up & Get On With It
You've identified your challenges, how to overcome them and you've mapped out a plan to move forward.
Work through your list one item at a time until they are all complete. Don't switch from item to item, otherwise you will end up in the same position as you did previously.
There you have it, 5 key tips in moving yourself through a challenging situation without cracking a hissy fit.
Do you have any others?
Hit "Comment" and share them with us below.
Until next time,
Ben Angel
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Great starting tips Ben, for acknowledging & tackling cashflow constraints. The traumatic & demoralising issue of handling debt collectors is however, worth a chapter in itself! As Ben suggested, always ring & seek an extension from your creditors first. As suggested, establish a cashflow statement forecast, but for at least the next 3 months. Then, assess how much you can afford to repay EACH of your creditors, on a monthly basis. e.g. 40%, or 25% etc. Do not play favours with creditors but treat each as an equal with your proposed repayment plan. Now the hard part. Take a deep breath, swallow your pride & ego, & ring each debtor & explain your current cashflow crisis. Be clear you wish to repay your dues in a timeframe that is workable for you, during your current INTERIM cashflow decline. Most will be pleased you have made contact & will be prepared to work with you. Don't be forced into making higher repayments you cannot honestly afford as your stress will continue to grow. Also, their are free financial counsellors at Community Centres. Ring & ask for their advice. They are so busy though, you may have to wait a few weeks for an appointment. Persist though. They are caring & understanding human beings who have heard of many struggles, and they assure help make you feel like the light at the end of the tunnel is not so dim. Also view info online at www.itsa.com.au Keep smiling & maintain your passion to succeed! P.S. This is not professional financial advice, but from my own experience. Financial hardship & unexpected serious health problems is an extra kick-in-the-butt to fire your passion to succeed. Trust me :-)
