Is Your Business Worth Saving?: A Step-by-Step Guide to Rescuing Your Business and Your Sanity by Stacy Tuschl

If you’re a business owner, you know that you’re going to face challenges. At times, your business may even find itself in danger of going under. It’s a difficult and scary situation to be in, but it is possible to save your business from total failure if you act quickly and effectively. Is Your Business Worth Saving?: A Step-by-Step Guide to Rescuing Your Business and Your Sanity by Stacy Tuschl provides readers with an in-depth guide on the actions and mindset necessary to get your business out of danger and back on track for success.

Tuschl focuses on the emotional struggle of knowing when to give up and when to keep going with a business endeavor. according to Tuschl, a business entrepreneur needs to expect failure in order to understand success. The most important step a business owner can take when their business is in trouble is to be honest with themselves and referee. It’s something that they don’t discuss in business school, such as having a good attitude, making an effort and showing the ability to address challenges with confidence.

Moreover, the book outlines what potential areas of your business need to be evaluated to determine if it can be salvaged or if it is time to move on. First, you'll need to ask yourself the tough questions. Is this business still worth the effort? Are you able to make a living from it? Is it still viable in the current market? Will it become a security blanket if you still held on? Going through this step-by-step approach allows you to pinpoint exactly where your business stands and what actions are necessary to move forward.

Once you’ve assessed its viability, the next step is to consider the options you have for rescuing your business. Tuschl recommends breaking down the options into two categories: short-term and long-term solutions. The short-term solutions provide the initial steps to stabilize the business and improve its current conditions, while the long-term solutions create a plan for the future sustainability and success. Short-term solutions could include performing an analysis of customer satisfaction, offering promotion and discounts, and reducing overhead costs.

Long-term solutions might include finding new markets, re-branding and refining the product, and building a loyal customer base. You will also need to take a hard look at your pricing structure and determine a pricing strategy that works for your business. In addition, Tuschl encourages business owners to embrace automation and other innovative technologies that will enable them to become more efficient in the future. Finally, investigate financing and investment options.

Is Your Business Worth Saving? offers insight into the difficult journey of rescuing a business. By walking business owners through the mental and financial process of reviving a business, Tuschl guides entrepreneurs as they navigate the toughest business decisions. This book serves as an invaluable resource for anyone considering saving their business, providing a comprehensive step-by-step guide for salvaging one’s business and their sanity.