Just finished doing a turnaround consult on two businesses and I’m posting this to give encouragement, perhaps hope, to those of you running a business that is driving you nuts or sucking all your time for little financial reward.
If you think fixing your business is going to take ages or cost a lot, I can almost guarantee you are wrong.
Yes, there are some businesses that just can’t be fixed. But the majority can quite easily be ‘fixed’.
For example these most recent two businesses took 6 wks and one started implementing important changes in week 3 and is already operating like a different company! Wonderful to see the changes.
Both businesses had good products and service but were failing to make profit despite turning over $1.4m and $3.7m. They also had staff performance issues and the wrong people in the wrong roles.
My turnaround service involves an auditing process I’ve developed over the years and includes my own questionnaire, staff interviews, audit of processes, audit of financials and if required, customer interviews.
I then make recommendations on priority things that need fixing and how. Often this is enough. Sometimes the business needs me to support and facilitate the changes. I’m here to help for as long as required.
To emphasise again, seeing the way out when you are in it can be impossible. However this doesn’t mean the solution is hard or impossible! Quite the opposite!
I tried renovating a one bedroom apartment once. After 12 months of no rent, my wife made me get a builder in and we finished it in a week. I was spending nights after work in that apartment looking at the mess I had created pulling out the kitchen etc and I was paralysed. I didn’t know where to start or what to focus on so I just dabbled at fixing this and that. The builder came in and immediately knew what to do. He made it so easy.
Same in business. If you are having issues or want to take things to the next level, give me a call.