Duncan Pattinson Business Transformation
Duncan Pattinson Business Transformation

Business Turnaround

DP Business Transformation welcomes the opportunity to work with you to deliver improved performance by introducing an Interim Manager who will make a detailed analysis of your business metrics and identify your key profit levers in order to empower to engage all your stakeholders.

Start the turnaround process by:

  • Carrying out a health check and determine the underlying reasons for the crisis
  • Examining ways of alleviating the impact of the crisis
  • Determining what needs to be done to generate cash whilst you establish a long term strategy
  • Formulating a detailed cash flow and understand the peaks and troughs

The solution will involve working with your management team, then working with stakeholders and evolving a solution. The steps to follow are:

  • Formulate a strategy by fully understanding the nuts and bolts of your business.
  • Review products, services and markets to formulate how each contributes to the profitability of the business
  • Align costs with sales revenues. Trends will be uncovered at this point
  • Analyse data which may lead to cost cutting
  • Understand the operation and discuss ways of improvement
  • Work from the core business and then look at other areas of the business to see if these are draining cash or focus
  • Restructure or eliminate under-performing and non-core businesses. (Disposal of those areas may bring in a cash injection!)
  • Examine the organisation chart and personality types to identify if the management team has what it takes to work together and implement and evolve the solution
  • Identify skills and resource gaps in the management team
  • Detail what is required to the management team and agree the way forward
  • Investigate ways of improving the terms of the business to release capital
  • Put in KPI’s (Key Performance Indicators) so that the turnaround journey can be monitored
  • Engage with creditors to get support

The conclusion is clear…

Detailed analysis and planning highlight what needs to be done — but it is the ability to engage and empower all stakeholders which actually produces results.

Lee Iacocca said...

All business operations can be reduced to three words: people, product and profits. Unless you’ve got a good team, you can’t do much with the other two.

Lee Iacocca, born 15 October 1924, is an American businessman known for engineering the Ford Mustang and Ford Pinto cars, and his revival of the Chrysler Corporation in the 1980s.