When your small business gets into unfamiliar waters, when outside forces threaten its profitability and even its existence, you need someone that you can turn to for help, someone that you know can get results. You need TurnaroundCoach. Our turnaround experts are focused on the rapid analysis and treatment of business problems and, if possible, the early restoration of profitability. Just look at what our turnaround experts did for these businesses:
A $10 million Services Company was fully extended at their bank and in the process of being sued by several trade creditors. Losses were as much as $65,000 per month.
With the help of one of our turnaround experts, the owner of this business successfully negotiated a settlement with his primary supplier. The settlement stopped the pending lawsuit and released the owner from his personal guarantee. In the settlement, the supplier also wrote off over 50% of the balance owed, allowing the business to continue to purchase materials from the supplier going forward with better pricing than before. Other trade creditors settled their accounts with this business for as little as 25% of the balance owed. The bank continued to fund the business because of the results the negotiations and the business’s subsequent improved financial performance.
The business went from loosing as much as $65,000 per month to generating an annual EBITDA of 6.5% the following year thanks to your turnaround experts!
A $2 million per year wholesale distributor had significant cash flow problems resulting from a temporary employee who had stopped mailing invoices to customers. Accounts receivable had swelled and the company was having a difficult time meeting payroll and its obligations to suppliers.
One of our knowledgeable turnaround experts guided management on how to prepare financial projections and clean up their accounting problems. This information was presented to several banks and the company established a line of credit to help its immediate cash needs. A collection process was put into place and small discounts were given to a few large customers that had the ability to pay their balances quickly. The coaching process continued to help the company determine which customers and product lines were most profitable and capitalize on that information.
The company just opened its second office and is expecting significant profitable growth this year – thanks to our turnaround experts!
If you are willing to do the following:
- Hear direct feedback about the state of your business from our turnaround experts
- Dedicate the time required to construct and implement a turnaround plan with the help of your turnaround expert
- Have straight forward communications with your vendors in order to negotiate a workable resolution of your issues.
- Call the TurnaroundCoach and talk to a coaching coordinator to get the help you need.
Then here are the ways TurnaroundCoach and our turnaround experts may be able to help you:
- Negotiate a reduction in your payables with your key and non-key vendors
- Negotiate releases from personal guarantees whenever possible
- Increase cash flow
- Renegotiate better terms with your lender
- Remove business partners that are only making matters worse
- Significantly increase your profits
- Strategically reduce your expenses
- Get you refocused on a profitable core business
- Improve profit margins
- Make quick, significant improvements to your balance sheet
- Improve the moral of your staff and help you keep key personnel
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