Business turnaround typically refers to making an unprofitable company a profitable company.  Often, businesses in need of a turnaround have uneven or insufficient cash flow to operate and are at risk of going out of business.  Engineering a business turnaround requires the following steps:

• Correctly identifying the issue(s) that are making the company unprofitable or cash short.
• Identify a range of feasible solutions to each problem.
• Developing a comprehensive time based plan that seeks to correct the issues.  Often this plan will have phases, addressing the most critical issues first.
• Gaining owner/management acceptance of the plan.
• Identification of resources (people and money) required to execute the plan.
• Assigning specific named resources to specific plan components.
• Development of the structure and process to monitor progress against the plan.
• Begin execution of the plan, monitoring results and making adjustments to the plan as needed until the turnaround is successful.

Call us at (973) 518-1970 to arrange for a free assessment of your situation and receive an outline of the steps required to begin your turnaround.