Penny chats to Tim Meadows-Smith, an Enterprisation Architect, with Multiple Non-Executive Director and Chairman roles. Tim is a Champion of StartUp Suffolk and Investment Partner at K2 Business Partners and saves businesses by making them work productively.
As Tim says, "Exceptional, positive, tenacious, problem-solving people should be joyous, not trapped, and not failing. We don’t have a distressed business turnaround industry, we have a liquidation industry, and it’s wrong."
During this chat, Tim and Penny discuss:
- the startup culture that leaves great people stranded for want of honest conversations and some support in spreading the relatively simple processes which sustain enterprise.
- how people hope, intend, to found a business to do things better, but usually create a job with a terrible boss, and it really doesn’t have to be that way.
- why the most common sign of a business that is on the road to going bust is agreeing to invoice finance, of factoring. Giving up most of your margin to get money in a bit sooner.
Tim explains how if he can get to businesses first he can help them get out of the arrangement and on a sustainable footing. They think they want money, which is
like a drug, they actually need process and strategy to build enterprise. Instead of liquidation, keeping unsecured creditors tied to assets gives a strong chance of recovery, rather than a domino-effect of misery.
You can connect with our expert here: www.linkedin.com/in/timmeadowssmithbusinessdoctor
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