June 2011 Update

So, after frantically scratching around I managed to find the money to pay off the debt I was sued for, but I still have to find more money (a long long story).

I have managed to get my company closer to breaking even. Just a bit more cost cutting, allied to achieving our drastically reduced revenue targets and we should put ourselves in a position to break even/make a profit this year. If we do, perhaps I can finally look at paying myself a salary, which would be nice after 3 years of living off my savings.

Actually, on second thoughts, that's a nice daydream! I won't be able to pay myself a salary because it wouldn't feel right when I still owe money to friends and banks etc.. I'll have to put any surplus into reducing debt first and just hold tight for a while longer.

But, you know, Hope is a strange thing. It is a great gift. If I have hope that I can turn this around, thereby managing and hopefully reducing my debt levels, it would constitute an improvement in my general situation and that alone would be a great step forward.

If I achieve it, I'm going to give myself the nickname of the "Turnaround Guy". When I became the boss of the company I ran before, it was losing over €500,000 a year and was over €2 million in debt and when I left it was making over €2 million a year profits, had no debt and had literally millions in cash in the bank.

Now this business that I am currently running was losing over €750,000 in 2007 before I took it over and, fingers crossed etc., should break even this year 2011. However, I couldn't do it without the people that are working with me in the company. It's a small team but they have been very loyal and hardworking and I feel like I finally have the right person running Sales. Of course the other vital ingredient was my friends and family whose support has provided a great foundation from which to build.

Now, not to get too much ahead of myself, it's back to the grindstone to make all of this come true.

"and miles to go before I sleep, and miles to go before I sleep"