Turnaround consulting is a simple process that takes special skills to implement:
Turnaround Process
• People, products, and processes
• SWOT & SWOT Conclusion
• Key challenges, decisions, and priorities
• Go-Forward Plan
• 13-week cash flow
• Communication
• Alignment
• Cash management
• Lender and supplier relations
• Guide change
• Organization / Management
• Products / Services
• Strategic initiatives
• Resource planning
• Predictable execution
• Industry average or better
• Predictable profits and cash flows
• People and performance management
• Marketing and sales performance
• Operational execution
Why Do You Need Turnaround Professionals?
1. Special Mindset and Expertise Required
- Do you have the mindset?
- Who’s driving the ship if you’re doing workout?
- Who’s generating new business?
- Are your key people adding value?
2. When Your Business Is Heading South
- Leadership issues
- Cash flow issues
- Lender Fatigue
- Frequent Crises
- Poor P&L/balance sheet
- Family issues
- Lifestyle issues
- Few goals; little planning
- No succession planning
- Little bench strength
- Precarious customer base
- Explosive growth
- Inventory shrink/growth
- Excessive diversification
Why Choose Business Edge?
Business Edge’s full time turnaround consultants usually conduct their work on-site. Our goal is to provide quick, constructive and cost effective recommendations that help solve the critical issues the business faces.
In most engagements, the urgent need for cash demands that we develop a cash management strategy (often using a 13 week cash-flow forecast). This forecast dictates how much time we have to develop solutions. While inadequate cash flow is a frequent problem, it usually masks underlying company weaknesses. Business Edge constructs detailed analyses that provide the basis for the appropriate action steps, guiding the implementation, and communication with stakeholders.