Business Turnaround
Turnarounds are the ultimate test of crisis management, in many cases the viability of a company is in jeopardy because key management are unable to navigate change quickly. Nearly all successful turnarounds involve bringing in new leadership skills, often turnaround managers are engaged specifically for key roles in management, business development, and sales and marketing.
Strategies for turnaround
When businesses get into trouble you must take the right actions at the earliest opportunity. Out team work with the existing management structure to develop a business strategy to first stabilise and then grow the business.
Stabilise the company
Businesses must focus on conserving cash to give you more time. External help to cut costs and manage debt is critical.
It is also vital to talk to creditors to gain their support while the business rebuilds. Only once a company is stable can the business move forward.
Getting out of trouble
Establish the root causes of the business problems – why did the company get into trouble in the first place? FortuneWest will help develop a recovery plan that sorts out the root causes and puts you on the right track.
Getting the team on board
Naturally, if you are in trouble then confidence may be low – which can be fatal. You must talk confidently with all the people who are affected. Your staff will be uncertain, your bank manager may lose patience and ATO or creditors may take action.
Strategies for growth
Pursuing a business growth strategy has many pitfalls. You can avoid development risks if you appoint Atlas Gantt as consultants skilled in business growth strategy. We bring practical business guidance and access to the specialist business expertise that your growth plans need.
Focus on marketing strategy
Working very closely with the business we help set the growth objectives and help to create a robust action plan with a highly focused marketing strategy at its core.
Raising finance
Effective business development plans can be used for raising finance should it be required, and Atlas Gantt can help – whether from banks or private equity sources.
Mentoring and skills transfer
Atlas Gantt can mentor your staff and transfer the necessary skills to help you become self sufficient as part of the turnaround strategy or after project completion.
