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A 3 Question Approach to Business Turnarounds

When your business is on the ropes, it’s time to get brutally honest and strategic.  Here’s how to tackle a turnaround with a no-nonsense approach:

Is There a Real Business?

The first question you need to ask yourself is, “Can I create a sustainably profitable business plan within, say, three months?”   If you can’t see a clear path to profitability in this timeframe, it might be time to face the hard truth and consider other options.  But if you can, let’s get to work.

Do You Need to Restructure?

Look at your plan and ask, “Will this generate enough profit to pay all my creditors that exist today over a reasonable period?”  If the answer is no, it’s time to restructure your balance sheet. 

Can I Afford the Transition?

How much cash do you need to get from where you are today to where you need to be?  For this calculation you probably need a comprehensive 13 week cash flow model.  Once you’ve nailed down how much money you need, figure out where it’s going to come from.  Loans, investors, selling off non-core assets—whatever it takes.  

TheScottSinclair.com

I don’t sugarcoat the process.  We dive in with you, get our hands dirty, and work relentlessly to turn your struggling business into a profitable one.  We bring a hard-hitting, results-oriented approach to every engagement.

Ready to get started? Let’s talk about how we can help you achieve your business goals. Reach out for a consultation or visit our website for more information.

What is Depreciation and Amortization? Financial Literacy
 
Depreciation and Amortization  

 
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