Turn Around Management: What Your Competitors Already KnowAll Articles
Turn Around Management: What Your Competitors Already Know
You had a phenomenal fourth quarter. First quarter? Not such much. Second quarter comes along and you feel like you’ll never get back to where you were. When you are in a position where you are bleeding money, the future doesn’t look great for your business. But when you’re in the green and have a positive cash flow? Everything is different. You can start focusing on both the long and short-term goals that will drive profit for your business in the years to come.
With Turn Around Management, you’ll learn how to formulate and implement the turn around initiatives required to take you from bleeding red to positive green in the shortest time possible. While this is effective, it’s also very detailed to make sure you make the turn around as quickly as possible. This only happens with an in depth operational analysis.
Operational Analysis Benefits
The operational analysis is the core service in Turn Around Management. To make sure all areas are covered, its split into three phases:
- Short Term Tactical Analysis
- Mid Term Tactical and Strategic Analysis & Implementation
- Long Term Strategic Analysis & Implementation
Each phase focuses on a specific time frame in order to maximize results. The first phase is the most extensive phase as you’ll analyze recent financial and operational performance, develop a short term tactical business plan focused on aggressive management of A/R, inventory, A/P, and non-core assets, and much more.
The goal of Phase 1 is to get your business back into the green as quickly as possible. Phase 2 and 3 focus on optional mid-term and long-term actions that can be taken to correct the course if needed. These are used to maximize the chances of long-term success for your business and will be reviewed frequently to maximize effectiveness.
Strategic Analysis Offers A Competitive Advantage
Strategic Analysis can offer your business a competitive edge and BIG can help. We’ll help you develop a strategic plan and implement a re-engineered, redefined leaner business model that is focused on profitable and sustainable growth. A strategic analysis can also help explore other bank options such as refinancing to help free up some additional capital.
Regardless of the size of your business, profitability should always be the goal. With an in depth strategic analysis, you can stay ahead of your competition by:
- Conducting customer revenue and profitability analysis
- Identifying inefficiencies and hidden resources
- Identify short, mid, and long-term strategies to help your business thrive
With Turn Around Management from BIG, we’ll help get you from red to green as quick as possible.