The Turnaround Plan | The Chameleon Guide
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The Turnaround Plan

“More business is lost every year through neglect than through any other cause.” – Rose F Kennedy

Business turnaround

The turnaround plan

The first step to getting your business back on track is to understand exactly where you are now:

  • What is your strategy?
    Is it clear, is it focussed, do you have a niche or are you trying to sell everything to everyone?
  • Getting a full understanding of your financial situation
    Looking at your cashflow, reviewing debtor and creditor days, examining your expenses – are they increasing or too high?
  • Carrying out an operational review
    What processes are in place, are there gaps, are you losing customers because of them?
  • HR review
    What is the structure of the business, and is it the right one for your business? Are your employees the right ones? Are there objectives and appraisal systems in place?
  • Sales and marketing
    Looking at what you are currently doing, what’s working well, what’s not working well.

I can help you get a high level analysis, reviewing all the above and providing the next steps action plan.

This may be a case of working with you to start working through the issues in a structured manner.

Or it may be that you need additional support – business finance for example. I have trusted partners who I work with so you can be assured you will get a holistic service from me – not just business planning.

The Chameleon Guide - Turnaround Plan

Business Turnaround Case Study

The owner of a supplier of kitchenwares to large department stores had been losing money for seven years.
I was originally asked to review their marketing strategy, but I moved to a higher level review once I had seen their accounts.This was due to:

  • A poor strategy – selling everything to everyone
  • Poor management structure
  • Poor management of expenses
  • Focus on revenue and new sales rather than looking after existing customers
  • No KPIs/business measures in place
  • Management style

The business was still running because it was being funded by another business. It hadn’t closed down because there was a huge emotional attachment to the business which had been in the family for nearly 175 years.

Having reviewed the business to identify the above issues a plan was put in place to get control of the business, starting with the strategy and expense management. Followed by resolving the HR issues. Marketing was right at the bottom of the list.

Read a case study of the review, analysis and action plan for a £4m turnover company that had been losing money for seven years.

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