Question:  When do I need a Turn Around Specialist?

Answer: The signs start with:

  • Sales decrease is more than a "trend" or the industry average.
  • Accounts Payable is reaching Accounts Receivable.
  • Customer satisfaction and quality are decreasing.
  • Lost focus on core business.
  • Debt Level and Line of Credit are a daily concern.
  • Selling, General and Administrative as a percentage of Sales is no longer showing improvement.

Executives who encounter corporate distress often go through the same emotional stages as dying people: denial, anger, bargaining, depression, and finally acceptance.

The last stage is when most corporations hire turnaround professionals, unless they are forced to do so earlier by a lender, equity holder, or bankruptcy court.      

Corporate managers who recognize and acknowledge the signs of trouble and get help in the earlier stages have a much better chance of a successful recovery for their corporation. Often too little, too late. In what could have been an avoidable situation.

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