The turnaround strategy formed from the initial diagnosis, will help the existing management to understand exactly why the business is under-performing and see why the improvement plan will make a difference.  Turnaround strategies by their nature need to be able to deliver results fast.

Three main elements:

        A new business strategy which will succeed –selling products and services profitably to customers who want those services. Revisiting all elements of the business –from marketing to manufacturing, sales to human resources.

        A second element will be to restructure costs –cut the cost base to one that is sustainable.

        The third major element is to review bank and other finance forms.  These will inevitably need to be restructured. 

The fallout from this might include:

        Some reduction in employee numbers

        Recruitment of some new key executives to execute the revised plan

        Renegotiation of supplier agreements

        Agreeing new terms with creditors –depending on the extent of the issues there will be varying forms of creditor agreement.

To achieve all this we need to work with firms with relevant experience.  QR Ventures is such an organization –they have achieved turnarounds which result in ongoing successful performance, exits at attractive prices; in fact a whole range of different solutions dependent on the market conditions, the stakeholders and shareholders requirements. 

QR Ventures prides itself on quality swift analysis to provide the basis of the plan.  The cost of this exercise depends on the size of the organisation requiring turnaround.  However, due to tight control of overheads, the diagnostic service for small businesses starts at £1199+VAT.  This on checking out seems highly competitive against many other organizations.  Our reviews would encourage us to recommend them to do the diagnosis, hear their findings and then work out a future programme to give the right turnaround strategy for the business.

In any strategy it is highly unlikely that the business owner will say I just paid these guys to repeat what I told them – turnaround strategies are never like that –this is because a fundamental review and change are required.   Taking the next step is important and urgent, the longer one vacillates over the decision the more change is required –doing the same today as yesterday and expecting the same outcome is one of many definitions of madness.

For reassurance contact QR Ventures, talk to one of their specialists and take those first steps.