Our Services
Business Turnarounds
Whether you’ve been in operation for two years or twenty years, things happen. You’re working longer, working harder and you’re still killing yourself, making constant sacrifices for your business.
Whatever your reason, we’re here to help.
Process
How does a turnaround work?
All businesses are different so it’s really difficult to give a cookie cutter answer. In general, however, all turnarounds follow these basic steps.
1. Listen
What hasn’t been working for you? What’s working really well for you? After we’ve listened to you, we listen to your employees to understand the processes, the morale and the struggles.
2. Evaluate
We review all financials and use the information from interviews to determine the root causes of various issues. We don’t want to simply put a band aid on the bleeding; we need to first stop the cause of the bleeding.
3. Stabilize
While long-term value creation is a top priority, it’s vital to stabilize the business by getting the current cost structure and cash flow under control. Sometimes this simply means cutting costs or finding new ways to leverage current assets or new revenues.
4. Restructure
While sometimes this might mean restructuring the team, most often it means restructuring the financials for a solid foundation. We take the time to restructure any debt and if necessary, find new investors or sources of capital.
5. Action Items
We will create new accountability charts, new strategies and new business processes. We will communicate with all key stakeholders with transparency to rebuild your company’s reliability & reputation.
6. Roadmap planning
Working with you and your team, we create a plan for purposeful and profitable growth moving forward. As the turnaround specialist hands off the plan, we work to redefine the relationship moving forward.
I’m Interested. Now what?
Turnaround Partnership Process
Fill out a short survey
This no-obligation survey gives us more information to kick off our discussions. You provide your basic business information and some of the specific things you might be looking for in a business partner.
Schedule discovery meeting
After you complete your survey, we’ll get in touch to schedule an introductory meeting or phone call. This is where we talk specifics – how’s your business doing, what are your goals, challenges and where are you looking to grow.
Make Decisions
After our meeting, we’ll put together a plan outlining how we propose to work together. This will include the work we will do and the capital we will invest.
FAQs
Frequently Asked Questions
Still have questions?
Of course you do! We do too.
When it comes to business there are no easy answers, no secret sauce. We caution you to stay away from people who promise them. We need to learn more about you and frankly, you need to learn about us too. Fill out the short survey and we’ll take this one step at a time!
In the meantime, read our FAQ’s, to answer some of the questions we hear most often.
How long does a turnaround take?
Some are resolved as quickly as one month, and others have taken up to six months. A general guideline is typically around 90 days – 1 business quarter.
How much does it cost?
Since every business is different and requiring different timelines, there isn’t one standard fee. After we assess your business’ needs and develop a plan, we’ll provide a proposal with all prices available to you.
Often times, we source investments into the business in a way that covers the costs of both the fee to do the turnaround, and the working capital required to execute the plan. Again, this varies for each business.
If my company is already struggling to pay accounts payable, how will I afford your fee?
We understand the stress you’re already under, and it’s not our intent to make things more financially challenging. We have zero hidden fees, and everything will be outlined in the proposal and guide plan. We’ll work together to create a payment plan that makes sense for your business.
How often will we meet?
To create a guide plan, I need to be on-site a few days to see the operations, meet with you and with your employees. After the guide plan is agreed upon, I will need to be on-site the first week to set the tone, make quick decisions and push the team into action. After that second on-site visit, the plan changes depending on the business’ needs. Some turnarounds have required a specialist on-site every other week, and some have required only those initial face to face requirements while the rest of the work was conducted behind the scenes and via conference calls.
Will our work together become public?
We work under complete confidentiality. Nobody needs to know about our working relationship, unless you want them to know.
What happens if we work together and the business still doesn't succeed?
We’re happy to say, we haven’t had to deal with this yet! As long as you want to keep fighting for your business, so do we. The next best option here would be to move towards a more aggressive restructuring plan. Again, this will look differently for each business.
More Learning
Make Your Own Opportunities
Our quarterly workshops are a place for fellow entrepreneurs to learn from each other’s successes and failures, a place to hold each other accountable and bounce ideas off one another. As a business owners, it’s vital to first invest in your own growth to then achive growth in your business.