Part of operating a business is learning how to manage through difficult times, and eventually sell or pass on the business once you decide to retire. Our featured Guides this week offer expert advice and solutions for restructuring a business, finding money for a distressed business, generating strategic alliances and planning an exit strategy that works.

This week's Q&A feature deals with finding low-cost seasonal help.
And be sure to visit our What Works for Business blog regularly at www.whatworksforbusiness.com for the latest news on small business solutions. Next week, we'll feature a blog spotlight on the January winner of the What Works for Business Contest.




Finding Low-Cost Seasonal Help

Q. Dear Dan: Our business is seasonal, and we usually hire extra help for busy periods. With the recession, we have less money but still need help. How can we find good workers on just a seasonal basis? – Seasonal Biz

A. Dear Still Thinking: There's a lot you need to decide on, including what kind of workers you want (student interns; adult temps, etc.), where to find them and how to train them. Here's a breakdown of key considerations for a small business seeking to hire seasonal or other temporary help: (Read Dan's answer)




Going to Plan B
Guide to Restructuring a Business
By Matt Alderton
Running a small business isn't easy these days. When customers disappear and profits dip, it may be time to make some changes. Occasionally, those changes can be small. If the wounds are large, however, the bandage will need to be big, too. Restructuring your business — reorganizing your employees, products and financials — might just be the big solution you need for your company. Here's what you need to know: Read Full Guide

A Way Out
Planning an Exit Strategy
By John Riddle
Although many business owners never think about an exit strategy, the smart ones plan for it right from the beginning. In fact, experts say that an exit strategy should be part of your initial business plan. Investors often insist on seeing an exit strategy in a business plan to ensure that they'll be compensated for their investment in case you leave the company. Here's what you need to know about getting out: Read Full Guide

Partnering Up
Generating Strategic Alliances
By Constance Gustke
Strategic alliances are a quick way to help a small business grow beyond its known sphere. By leveraging an alliance with a key customer or even a competitor, you can jumpstart any area of your business and: 1) Gain access to new markets; 2) Develop new products or skills; 3) Respond to changing markets quickly; and 4) Reduce risks and costs. Here's how: Read Full Guide

Money Moves
Financing for Distressed Companies
By Mary Sit
Small businesses can quickly spiral into trouble. The management team can depart to start a competing business. The business can grow so rapidly that it outpaces management's skills. Or a family feud can rip it apart. When you need financing for a distressed business, keep in mind three important points: Read Full Guide

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