Business Has Changed ... Now What?
You've sacrificed a lot for your business. . . worked long hours and taken risks. Until recently, it was worth it. You earned a good living and enjoyed coming to work.
Today, business has changed. Sales are down, cash is tight, and worry is keeping you up at night. Your company is not healthy, and you know it.
This is NOT where you want to be, but here you are.
Now what?
Make Your Company Healthy Again
In many cases, you can regain your corporate health in just a few months. The most effective way to do it is through a Business Turnaround. When executed correctly, a turnaround guides you from where you are today, back to where you want to be . . . which is running a profitable business you can be proud of.
But, there's a rub: most business owners find it hard to accept that doing more of what they've been doing won't solve the problem.
Like me, you were probably taught that if you just work harder, things will get better. Unfortunately, this won't happen if you keep repeating the same steps that lead you nowhere. If you want to make your company healthy again, you will need a different approach.
I know that seems like a blinding grasp of the obvious, but I talk with business owners every week who have been on a treadmill for months -- cutting some expenses and scrambling for sales. As the Jedi Yoda would say, ''Tired, they are. Successful, they are not.''
For more than 30 years, it has been my experience that business owners who follow a structured turnaround plan are the ones who revitalize their companies and rebuild their value. Those who don't usually stumble from one crisis to another until they run out of cash and either liquidate the business at a loss, or close the doors.
The Big Questions
No doubt you have questions about what you are reading here. The three I get most often are:
---'What can a turnaround specialist do that I can't do myself?'
A turnaround specialist is trained in financial and operational techniques that are very different than normal business practices. Also, a specialist can see and correct problems you may be unaware of, because he is not emotionally attached to your business.
---'I've already cut expenses - what else is there?'
Quite a lot, actually. Achieving positive cash flow and repairing gross profit margins are top of the list, followed by improving operations, restructuring the balance sheet, and dealing with ''sacred cows.''
And, you especially want to know:
---'If I hire you to help me, do you have a proven strategy I can rely on?'
Yes, I do.
''You can rehabilitate most any company by making it smaller so it produces positive cash flow, while you develop a turnaround plan your creditors will accept. Then, you implement that plan.''
It should come as no surprise that creditors view professional guidance as confirmation you are serious about turning your business around. This makes a big difference when negotiating workouts and concessions.
Free Turnaround Information
I've written a report that explains how you can make your company healthy again. It's based on my experiece with hundreds of clients and I'll be glad to send you a copy.
This report is best suited for business owners who have the following characteristics:
- A coach-able personality
- Personal assets at risk
- Responsible for a business with annual sales greater than $5 Million
If you see yourself in this profile, I invite you to download and read, Business Turnaround: A Roadmap for Owners. This free report explains how to turn your company around, without getting deeper in debt. It also includes action tips and a list of resources.
Naturally, I hope the information will encourage you to call me if you are thinking about assistance. Regardless, I'm confident you will find Business Turnaround to be a valuable reading.
Before downloading the report, you may be interested in learning more about the turnaround process. If so, click this link: The Turnaround Solution. You can download the report from either page.
Best wishes,
Van Lanier MBA, CMC
P.S. Despite what you hear, filing bankruptcy will not fix a cash-starved business. In the majority of cases, a business that files Chapter 11 eventually runs out of cash and gets liquidated via Chapter 7. The lawyers get their fees, but you lose the company - and maybe your house.
Here is an alternative: The Turnaround Solution.
Lanier Turnaround Group, LLC
12801 Worldgate Drive
Suite 500
Herndon VA 20170
703.437.1211 phone
703.935.3212 fax
Van@LanierTurnaround.com
www.LanierTurnaround.com
