Get Well Soon
Your business about to flatline? <I>Clear!</I>
More companies failed in 2001 than in any year on
record. According to Carter Pate, the U.S. head of
PricewaterhouseCoopers' turnaround team, more will fail in
2002. But Pate and Northeastern University business professor
Harlan Platt argue failure need not be final in The Phoenix Effect (John Wiley &
Sons, $27.95). By applying proven techniques for resuscitating cash
flow and energizing performance, many companies recover from hard
times and reemerge stronger and better, they say.
Pate and Platt's account is both practical and inspiring. Pate has headed the rejuvenations of a marquee roster of corporations. Platt contributes a professor's quality of objectivity and thoroughness to examples such as the analysis of how changing a product's characteristics can help or hurt a troubled company's chances for a rebound. One interesting conclusion on that point: Managers of companies in trouble should not cut prices in hopes of generating additional cash, the authors say. It often makes more sense to raise prices.
4th of July Subscription Sale - Unlock this subscriber exclusive article and more for 20% off today.
Access all Entrepreneur content with no ads, unlock discounts, and get exclusive advice only available to our subscribers. Plus, our magazine delivered straight to your door.
Get 20% off an annual subscription today. Just use code SAVE20 at checkout.
Entrepreneur Editors' Picks
-
Formerly Enslaved Black Man Nearest Green Taught Jack Daniel Everything He Knew About Whiskey. Today, the Founder of Uncle Nearest Premium Whiskey Celebrates His Legacy.
-
Leadership Lessons From the Exclusive Creativity School That 'Packs 5 Years Learning Into 5 Days'
-
3 Expert-Backed Strategies for Staying Calm in Times of Confrontation
-
The CEO of Wayfair Has Helped Revolutionize Digital Shopping for 20 Years. Here's How He Handles Rocky Economic Conditions.
-
This Founder Went to Prison When He Was 15 Years Old. That's Where He Came Up With the Idea for a Company Now Backed By John Legend.
-
3 Signs You're Letting Pride Get in the Way of Being Successful
-
Chip and Joanna Gaines and Shonda Rhimes Found Incredible Success By Using This One Entrepreneurial Strategy. Here's How You Can Too.