Implementing a turnaround strategy can be the most important thing you will ever have to do with your business. By the very nature of the undertaking, there is little margin for error and it is crucial you get it right first time.
It is my long-held belief that there is no prescription for success with a turnaround. Every situation is contingent upon the history of the organisation, the market it operates in and the particular set of issues that it is seeking to deal with.
I have written widely about the theory of the company turnaround and have a number of online resources outlining the component parts of a successful strategy. However, the key to a successful turnaround is the development of these theories into an appropriate strategy for your business which is then implemented at the right time, in the right way and by the right people.
I am a specialist in this field following many years of practical experience of the turnaround strategy both on my own account and successfully advising others.
Finally, it’s important to recognise that not every turnaround is seen as such by the principals. In my view there is little difference between the traditional Company Turnaround and a strategy that repairs and rejuvenates a specific business issue that if not addressed, will have deep and potentially dire consequences.
Access to turnaround finance
Turnaround finance is often essential to the success of the turnaround strategy. We work with a number of specialist funders who provide finance facilities that support businesses planning a restructuring or turnaround. Each of these funders has their own specialism in the type and size of facility they will provide and the sectors they will invest in.
These potential funders need to buy into a well planned turnaround strategy with an experienced team in place that are ready to act. It needs to be a structured strategy that has a high chance of success and reduces the risk for both the funders and the shareholders.
A well-developed turnaround strategy, which identifies the specific funding requirements, can be presented to a range of potential sources of finance, and even create competition to be the successful provider.
Without the finance in place to feed a hungry machine that is likely to be starved of credit, the chances of a successful turnaround will be dramatically reduced.
Practical assistance from Trans Capital
We have developed a helpful eGuide entitled Company Turnaround and Refinance to offer you practical steps and creative solutions when your business is running into problems.
Our eGuide offers specific turnaround strategy advice: from outlining the seven steps to creating a turnaround plan that works to help on how you can access the finance you need, as well as tips and ideas from the trenches for keeping the business running, and you in control.
Alternatively, you can set up a Confidential Consultation with us to discuss your situation.
“I was introduced to John Thompson of Trans Capital Associates at a very stressful period of time, particularly business wise. After several meetings with him, a course of action was decided on. John was very supportive throughout the whole process and furthermore, due to his patient negotiating skills, a very satisfactory personal outcome was achieved. John is a quiet but highly effective negotiator and I can thoroughly and whole heartedly recommend him.”