An entrepreneur creates some small fortune in a few decades. He usually has a house, a car, maybe some other property that he rents out or enjoys on the weekends. He himself is 100% owner of the company he created and also financed all his property, and this company gives bread to at least 10 families. In all these years, he paid all liabilities to Banks and Durs and business partners on a regular basis, and often helped someone when he was in crisis, so that I don’t even “talk” about the business opportunities he gave to friends… this is the story of most Slovenian entrepreneurs, to this day!
Today, however, the Crisis has occurred, the volume of work has decreased, there are no more financial reserves, the entrepreneur has put all personal money in the company, maybe even mortgaged his property… buyers started to be late with payment, banks no longer gave new loans extend more.
Suddenly we find ourselves in a situation… we never knew. Warnings before execution begin to come, threats of threats, accusations, turning away on the road, receiving threatening letters pa but we observe helplessly because we cannot believe that someone can be like that if we have stood by his side for so many years and supported him … Today, when there is no money, he shows his true face, the past no longer interests him, he only becomes a scavenger who wants to remove everything that is left alive on us.
After two or three months, when we are just beginning to realize what happened, in some cases it is almost too late. We get the first foreclosures that block our personal and business account, which means we only have as much money as we have in
our wallet. Suddenly, foreclosures knock on our door to take material things if we can’t pay in cash and another month passes when the bank terminates the loan agreement and wants to sell all the property owned by the entrepreneur or company.
The story you are reading is happening to countless entrepreneurs today and now we come to the turning point, whether we will land on the road with a liter of wine or we will rise above all pressures and stand up for ourselves.
Here we must be aware that it is no longer the indulgence or tolerance that has brought us into such a situation, but it is solely a struggle for self-survival. That is why it is important that we protect ourselves first.
What we can do overnight:
- Change of permanent address: We move our permanent address where we basically don’t live and they can’t take anything worthwhile out of that property… think of classmates and colleagues from the past.
- Personal account abroad: We open a personal account in a neighboring country and report it to the Tax Administration of the Republic of Slovenia so that we do not fall into a new offense, but your funds are safe.
- Letter of Possession: Arrange for a Letter of Possession for all your property
- Lifelong easement: We give lifelong easement to a relative or friend on all our property.
- New company: We open a new d.o.o., at home and abroad, so that we can start operating at all
- Business account at a blocked company abroad: We do not open a business account abroad at a blocked company, where we have all the contracts, not all banks, because they check the situation in Slovenia, and at the same time we have to report it to DURS.
- Factoring / Compensation: Sell all receivables or. make all sorts of compensations, take things you don’t even dream you might need.
- Notice: Write a letter to all business partners informing them of your status and that you will cover your obligations within six months.
These are the first eight steps to create the conditions for survival and further work. Everything can be arranged in one week. This struggle at the same time frees us from all the shackles of fear, in a very short time we become confident on a realistic basis.
All I have mentioned are temporary solutions. Now we have to prepare a new business plan or. to ask ourselves first who are we? For the period that is behind us, we have mainly blamed others for all the mistakes, but in reality, we have come here with our way of life. That’s why it’s important to change the way we live, to change it, but we can only change it by asking ourselves who we really are and what we want.
You could say that we get some new opportunity to live, for that real life that we never dared to live because of different social norms.
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Above all, I advise you not to take advantage of the situation to bankrupt the company and get rid of debts, but to repay what you really owe with new business, and write off everything else with agreements or in any way. If I use the term from “The sicret” the Universe always issues an invoice at the end or Physicists would say that Pressure in nature always equalizes.
At the end of this journey, you can only be even stronger for life, liberated and above all pure.
Author of the article: Milan Krajnc, pedagogue, entrepreneur & crisis manager
I teach you to look “at yourself” as a third person. For more information or an introductory meeting, write to me at official@milankrajnc.com
Dynamic Leadership Model
The purpose of the book is to present a dynamic leadership model, which in more than a hundred cases has proven to be a great way to get out of business and personal crisis and how to overcome difficulties without even going into crisis.