Turnaround Management

Is it time to call in a turnaround management specialist?

As demonstrated all too vividly by the 2008 world financial market chaos, even the most stable and profitable companies can wake up to a crisis they can no longer manage on their own. Crises that call for turnaround management can result from many conditions, including:

  • Misguided management
  • Inept forecasting
  • A downturn in the economy
  • Highly successful competitors
  • Significant market shifts caused by unforeseen threats or innovations.

Hiring a turnaround consultant is the best decision
a company facing critical challenges can make.

When you’re worried about cash flow and concerned that your decisions might have put your company in danger, it takes courage to invite an outsider to examine the inner workings of your business. No matter how difficult, fully assessing the situation with the help of a turnaround specialist is always a good first decision.

It’s easy to tell yourself that you can’t afford it. The truth is you can’t afford not to.

AvoLead’s experienced turnaround specialists bring invaluable new perspectives and insights along with proven frameworks for creating and implementing your recovery. Any turnaround management effort has a higher chance of success when it’s led by someone who’s actually been there, done that. At AvoLead, our highly qualified turnaround management specialists draw on experience from careers that span decades, disciplines and industries.

Speed and experience are equally vital to the success of your turnaround management efforts.

Crisis by its very nature demands a speedy response. When your house is on fire, you do not take time to think about how you’re going to redecorate; you put out the fire. It’s critical to hire turnaround management specialists who can come on board, understand your situation and swiftly take action to improve the situation.

What you can expect: a summary of the turnaround management process.

While the root cause of a crisis may vary, the steps in the turnaround management process typically include:

  • Management Intervention – experts assess senior leadership and provide high impact coaching to the executive team. Leadership changes may be implemented.
  • Business Analysis – a thorough business analysis is conducted to determine the likelihood of success and the most important strategies to put in place.
  • Message Alignment – high level of employee engagement and the goodwill of vendors and customers in a crisis significantly increases likelihood of turnaround success; both should be addressed through aligned and regular messaging to the organization and interested parties.
  • Emergency Action Plan – actions designed to achieve positive cash flow as soon as possible.
  • Return to Normalcy – changes are internalized for long term success.

At AvoLead, our experience combined with our organizational effectiveness expertise and knowledge of best practices make us especially well equipped to help companies who need to quickly get back on the right track. For turnaround management support from a partner you can trust, call AvoLead.