press release
Family business advisor, Joe Schmieder of the Family Business Consulting Group, discusses highlights from 100 Action Thought Starters for Surviving a Severe Downturn.
Marietta, GA (PRWEB) — The Family Business Consulting Group (efamilybusiness.com), announced today that Joe Schmieder, family business advisor of FBCG and author of 100 Action Thought Starters for Surviving a Severe Downturn, summarizes highlights from his article.
“In 2000, I found myself and the family company I was running, in the midst of a sudden and profound downturn,” says Schmieder. “Many non-competitive family businesses started to compare notes. We were all reading the same business articles and management guru books. But we could not get from 40,000 feet to the grass roots level of what actions to take.”
“We knew we had to strengthen our balance sheets and improve cash flow, but we did not know what actions would work best.” Thus, the list was born. The list began as an itemization of actions to trim costs, stay competitive, and still be prepared for the next uptick. “Most of us brought our leadership teams together and worked the list for our specific situation. We would now all agree that it helped us weather that storm. Many of those same companies made record profits once the turn-around began.”
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