A day in the life as a consultant at Zuidweg & Partners
Last Wednesday I drove early in the morning towards Deventer. It was raining heavily and the cars and their drivers apparently did not feel like going to work. Going on a 'house visit' is the best but at the same time the scariest thing there is. You never know where you will end up and in what state your customer is.
I survived the rainy weather and parked, as indicated by the customer, across the street from the place where we agreed. I had to wait in the rain before the door was opened for me. A cheerful woman opened the door and let me into a workshop.
Steaming coffee stood out for me when this fun-making furniture set began their story. They had had bad luck in recent years. Due to dismissal during the crisis period, they had started their current company. However, the damage had already been done and arrears in payment of the fixed costs had arisen. As a result, their home was eventually sold by foreclosure, resulting in a high residual debt. After not having had a permanent home for a year, they were finally able to move into a rental home in 2016. Peace had returned, also to look at the company. Did she want to continue with their company and could they continue? Just then the market started to pick up again and they decided to give it another chance.
An entrepreneurial coach was called in with the help of the municipality and a business study was eventually carried out. The company was declared 'viable' and we could submit a proposal with the restructuring loan.
All nice and nice, but these people were tired. In recent years they had only been busy filling out forms, surviving instead of living. They no longer knew how to do it. At that time I was very honest with them and indicated that we would put the report aside for a moment. It had to be sorted out first. Did they know how much turnover she generated? How much actually came in? What did they spend on groceries per month? How much did they need at all to pay their fixed costs? How did she currently use their bank accounts?
We discussed all of the above points and during the conversation I saw a smile break through. I asked what was going on. "This was what we needed, someone who gives us practical tips and teaches us how to regain control."
After a 2 hour conversation it was still raining, but I walked out with a little sun in my head. These people were able to take the first steps towards a healthy financial situation. When they are in control, we take on the debt, but first they themselves. They were looking forward to it again.
Kelly Vink, senior insolvency adviser at Zuidweg & Partners