Achieving Business Objectives
There are lots of business terms which are thrown around and often poorly understood, such as business turnaround, workouts, restructure or business recovery.
Today, I’m going to clear that up for you.
If you’re a business owner, chances are, you’ve had it tough, or could soon be knocked about. Forces beyond your control, can rock your business and play havoc with your livelihood.
On the other hand, forces within your control can also shatter your business dreams and aspirations. These especially are preventable, provided you take action early and seek the right advice.
If you have recognised signs of strain and financial pressures within your business, or feel like you have lost a hold of the controlling reigns of your business, it’s likely a good idea to trust your instincts and seek independent advice.
What Exactly are Business Workouts, Turnarounds, Restructure and Recovery Management?
Workouts occur where business owners recognise issues with its business and take early action to prevent the situation from getting worse. The key is to get in early, engage with key stakeholders and come to an agreement on how to manage the business.
An independent perspective is critical in this circumstance.
I talk to stakeholders on all parts of the business playing field.
Believe me with over 30 years experience I can predict the referee’s call more often than not.
If a business is analysed or assessed early enough, there is a high chance we can implement a business plan to stabilize a business and set it up to turn around and point in the right direction.
This involves assessment of the numbers. That’s the easy part.
Looking at both the big and small picture is fundamental – macro and micro. It also involves assessing and testing assumptions, key players, and attitudes. There’s a lot in it.
Recovery needs time, the earlier you start, the better your chances.
The success of any change management plan hinges ‘buy-in’ from all key players.
You’re Not Alone
Let’s have a conversation. I can talk to you about what I have seen.
Contact me directly on 0448 000 010; or hello@eddiesenatore.com
