I’ve been called into a significant number of businesses that are in need of a ‘turnaround’ process. What does that mean?
The key warning signs in my experience are;
- Inability to pay accounts on the due date [negative cashflow].
- Trading but insolvent [current liabilities exceed current assets].
- Market share being eroded.
- Poorly motivated staff with poor levels of productivity.
- No idea of sales pipeline/conversion rates.
- Exhausted and fractious business owner [and often spouse].
- All personal assets on the line [house/pension/cash].
Acting before the financial noose tightens is a major factor in turnaround success.
How I can help you.
Firstly, I’m a business advisor and not Dynamo the magician. Slightly more than 75% of the businesses I’ve been asked to help have already passed the point of no return, where the only option is an orderly process through liquidation.
Secondly, the absolute key factor and cornerstone of a turnaround is to have a business owner with the energy and fight to work through the process, see it out to its conclusion and continue to run things in the right fashion.
Lastly, I’m not an accountant. administrator or receiver. I can work with your accountant and I may have to call in the latter but, I work for you. I will give you the best advice I can and deliver the most effective and feasible turnaround plan relative to your situation.
Ordinarily, I will advise a client on this area of the business as part of my work with them across all aspects of the business [A good example is where we are improving the financial reporting and online activity and need to improve the connection between the two by changing the software, which then focuses attention on getting the right accounting support].
However, I can help you by spending an hour assessing your current and future needs and providing you with advice, guidance and recommendations on your options, if you prefer.
Request a call back.
Would you like to speak to with me in confidence over the phone? Just submit your details and I’ll be in touch shortly. You can also email us if you would prefer.
For Businesses: Do you have questions about how I can help your company? Send me an email and I’ll get in touch shortly, or phone 0845 2200369 between 08:00 and 18:00 Monday to Friday — I’d be delighted to speak with you.