A successful start of an Early Warning initiative in other countries requires a focus on the following challenges:
- A geographically comprehensive organisation
The necessity of a physical meeting with the company requires a broad geographical presence.
- The interdisciplinary, holistic effort is the hardest discipline to manage
Particularly for the Early Warning consultants, who are responsible for the initial screening of the companies, it is vital to be educated within all the important professional subject areas.
- Building a group of volunteers
It is important to make clear from the beginning what the volunteers benefit from participating. Some advantages is that they get admission into an attractive group, unusually complex and demanding assignments and a unique purpose driving their effort.
- Establishment of a close interaction between a suitable number of skilled insolvency lawyers
The local lawyer will usually service a typical SME in trouble, even though the lawyer in question does not necessarily have a great understanding of insolvency law. Early Warning ensures costumers a highly competent counselling from a lawyer who is specialised within insolvency law.