Turnaround: What Surviving Bankruptcy Taught Me About Achieving Success in Business and in Life

Bankruptcy is often seen as the end of the road for a broken business: an admission of failure. But despite the stigma surrounding it, bankruptcy can actually allow a company to restart, renew, and improve--as long as it's done right.

When Gregory K. McDonough faced his own professional "death spiral," he took a deep dive into the bankruptcy process and realized that bankruptcy could help revive his business. Now, he draws on his knowledge as a Certified Insolvency and Restructuring Advisor and his personal experiences to create a practical guide to staying mentally and strategically strong while navigating bankruptcy. The Turnaround provides vital information and coaching on the key elements of the process, including the following:

• What bankruptcy means
• When to declare bankruptcy
• How to make hard decisions
• From whom to get help
• When to dissolve
• How to protect your personal life
• What plans to put in place to rebuild

Going bankrupt does not mean giving in. With the right plan of action, commitment, and mind-set, it can be the first step in turning a bad situation into a positive outcome.