Turnaround management is a process that uses analysis and planning to identify and rectify declining market performance. Our consultant examines your problems objectively, isolates the problem area and puts forward a solution.
Broad experience across a multiple of sectors and industries enables our Turnaround Managers to make critical decisions quickly and set the company back on a path to recovery. If your business has noticed a decline in performance or an inability to thrive, consider an objective, third party turnaround manager to quickly isolate the problem and offer alternative processes to compensate. The turnaround manager can stay as long as they are needed to initiate the turnaround.
Our four step process to recovery will be tailored to your needs and progress through the following stages:
The first stage of the engagement will involve information gathering, understanding the businesses major issues and assessing the severity of the company’s problems. A detailed assessment of the company’s strengths and weaknesses.
Development of a strategic plan with specific quantifiable goals and actions will be prepared and presented to the key stakeholders of the business. The communication of this plan is crucial as it can restore confidence that the business can work through its difficulties.
The plan will typically include financial, marketing and operational objectives that will improve working capital, reduce operating costs and improve budgeting and pricing.
Initially the return to a positive operating cash flow position is imperative, so once the agreed strategic plan is finalised we facilitate it’s implementation. This can be a stressful and difficult time as the business will go through significant change but we are here to help you implement this, manage change and guide you through this process.
Stopping the decline and losses is one thing, but returning the business to a point where it achieves an acceptable return to its owners and shareholder is the next important step. Our managers implement this step in order to get your business back on it’s feet.
At William Advisory Group, we have the experience and commercial understanding to guide you through this turnaround management process.