Michael Lynge Hansen, Early Warning consultant at Business Development Centre Central Denmark, Regional Program Manager (Early Warning Denmark), Project Consultant (Early Earning Europe) and external teacher at Aarhus University, 53 years old.
What is your background?
I have a Graduate Diploma in Business Administration (Financial and Management Accounting). I have been working in the financial sector for many years, including serving as CFO and vice-president in a large Danish investment company with investments in shipping, oilrigs, real estate and windmills in mainly Europe and the US.
What is the first thing you do when trying to help a company in distress?
I try to get an overview of the situation and build the necessary trust between the company owner and me. When mutual trust has been established, we can start working on all the financial, organizational and personal issues.
What are the key success factors for helping a company in distress?
The key success factor for helping a company owner in a crisis is empathy. It is extremely important to listen to the company owner without being judgmental.