Empowering Healthy Business Podcast Episode 19: Managing a Financially Distressed Business with Charlie Goodrich
In this episode of the Empowering Healthy Business Podcast, host Greg Reed sits down with Charlie Goodrich to explore what it means to be navigating financial distress as a business owner. When your business faces mounting debts, cash flow issues, or the threat of bankruptcy, the path forward can feel unclear. Charlie brings clarity by outlining practical, experience-backed strategies that help leaders stabilize operations and make sound financial decisions. Whether you’re struggling with solvency or unsure how to cut costs fast enough, Charlie shares actionable advice that goes beyond theory.
How Navigating Financial Distress Helps Manage Solvency and Avoid Bankruptcy
Many businesses encounter financial hardship, but not all are equipped to deal with it strategically. Charlie Goodrich discusses early warning signs of distress and the critical steps to take before it’s too late. These include renegotiating with creditors, selling underperforming assets, and managing cash flow with discipline.
He also explains how owners can protect themselves from personal liability, one of the most overlooked risks during financial restructuring. With decades of turnaround experience, Charlie outlines how to minimize damage and recover as much value as possible.
What Business Owners Can Do Today
Navigating financial distress doesn’t mean giving up, it means getting proactive. Charlie’s approach focuses on stabilizing core operations, identifying what’s salvageable, and acting decisively. For some, that may mean returning to profitability; for others, it could involve an organized wind-down. Either way, Charlie helps business leaders move forward with clarity and confidence.
Tune in now to hear expert advice on how to survive and potentially thrive when your business is on the edge.
Check us out at www.empoweringhealthybusiness.com.
Businesses can become financially distressed and face challenges with solvency and potential bankruptcy. Business owners in this situation may be able to cut costs, tightly manage cashflow, and return to profitability. Sometimes they need to renegotiate debt, attempt to sell business assets, or ultimately dissolve the business. There may also be personal liability concerns for owners and officers. In this episode of the Empowering Healthy Business Podcast Charlie Goodrich shares how he helps businesses navigate these situations and achieve as favorable an outcome as possible.
About the Empowering Healthy Business Podcast
The Empowering Healthy Business Podcast is THE podcast for small business owners seeking to balance having a nicely profitable business, a sustainable, scalable, and salable business, lower stress levels, better work-life balance, and improved physical and emotional fitness. Yes, this is possible! Though it’s not easy. We’re here to help you navigate toward this objective.
Check us out at www.empoweringhealthybusiness.com.