Business turnaround strategies

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TIMESTAMPS 00:00 Intro 00:29 What’s up today November 8, 2023 02:48 Kelly introduces Dr. Mark Evans, our resident Webinar Wednesday economist 03:21 Dr. Evans begins his presentation: Federal Debt Ceiling and Budget Update 03:31 Federal Deficits, Debt, Debt Ceiling 04:32 Federal Responsibility Act of 2023: Debt Ceiling & Budget Aspects 06:02 FY 2024 Budget 08:16 FRA applies only to discretionary programs 08:53 Unsustainable debt trend driven by mandated benefit programs 09:44 Paying higher interest rates on greater debt 11:10 Politics is broken 12:08 Some Bipartisan Information Resources Peter G. Peterson Foundation: www.pgpf.org/ Committee for a Responsible Federal Budget: www.crfb.org/ Congressional Budget Office: www.cbo.gov/ 12:45 Kelly rejoins Dr. Evans 14:36 Key Finding 2022 Small Business Credit Survey - CA Firms Federal Reserve Small Business Credit Survey - Link fedreserveboard.gov1.qualtrics.com/jfe/form/SV_4PKWyQfbGKeIL3g?orgid=SBDC_CSUBakersfield&parentid=&reserve_bank=SF 17:21 EIDL - Economic Injury Disaster Loans 18:48 Applications are open for $10,000 grant for Mono County Business Owners tinyurl.com/MonoCountyGrant 19:40 Want to run a home day care business? $1,000 start-up grants 20:22 Free Human Resources Hotline for Employers 21:15 CSUB SBDC KZbin Channel 21:43 See what tools the SBDC has for your business 22:21 Kelly introduces Ben Nicholson, president of Fortis Business Advisors 23:40 Ben Nicholson begins his presentation: Small Business Turnaround Strategies During Economic Volatility 25:10 Overview 26:56 What is Turnaround Management 28:53 The Three Things that Get a Small Business in Trouble 30:34 Business Operating Like a Runaway Stagecoach 30:57 Someone is Not Going to Get Paid 31:32 Distressed Business Analysis 32:30 What It Is and What It Is Not 33:20 Sales Don’t Solve All Problems 34:51 Margin Compressions 37:25 Break Even and Cost Containment 38:36 Ratios and Key Performance Indicators 40:11 Distressed Liquidity Management 41:25 The 13-Week Cash Flow Statement 45:53 Banks and Other Sources of Capital 46:04 But You Said We Were Friends 47:53 The Baddest of the Bad Actors 50:06 Case Study: Consumer Products Business 51:57 Everyone Has to Buy in to the Strategy 52:37 Who We Are and How We Help Small Businesses 53:34 Kelly rejoins Ben for discussion and Questions and Answers