Turnaround Solutions

WHAT IS THE BEST TURNAROUND SOLUTION FOR YOUR BUSINESS

WHAT IS THE BEST TURNAROUND SOLUTION FOR YOUR BUSINESS

The process of turning around a troubled business or company can be fairly complex. This is made more difficult and complicated by the multiple stakeholders, including financial and creditors, all of whom have different agendas.
Lenders want a return of their invested capital, preferably with interest. Creditors want their money in exchange for goods and services. Original investors want and hope for the recovery of their capital. Directors want to avoid guarantees, plus avoid risk and litigation. Other stakeholders want their interests protected.
The solution to this? Well, each business is different and depending on the situation required, a full diagnostic of the whole company can be what’s needed. This would always include a go-forward approach. It is amazing how with a little assistance what quick recoveries are able to be accomplished. We offer no-nonsense common sense approach. By focusing on a few fundamentals, Business Solve will quickly assist you in determining a current snapshot or CSA ( Current State Analysis ) of your operation. Depending on the time frames involved, many strategies will be considered. We will analyse and prepare a short-term cash flow projections. Estimate the cash needs for the next two to three months to set priorities. Identify ways to reduce expenses. Prioritise payments, determining the crucial ones. They’re the ones that you can’t operate without. Review staffing levels make sure every employee contributes to the business.
These few points are only the beginning of undertaking a turnaround; it can seem like a huge task. It can be extremely stressful for all stakeholders. Especially the directors and shareholders. Some considerations – Are the current managers capable of undertaking the project alone or is short term help needed. Turnarounds require different skill sets and experience in this area is critical. While your current people might be great at day to day normal business processes, a turnaround project is very different. Business Solve has that experience and knowledge to assist. We have access to the best resources both internal and external.

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