Turning a Business around

As someone who has specialised in assessing businesses and turning them around, my experience has provided unique insights on why businesses fail or simply stagnate. Through many years of operation and many differing types of businesses there is one aspect which cannot be ignored when people say, ‘but my business is different’. My simple answer is this, although products and processes may differ, the principles of operational control and management are all the same.

I have gained that rare mix of practical operational experience with an ability to quickly assess where a business currently sits and what needs to be done to generate a sustainable future. This of course is after ensuring that all basic management criteria is available to support a future.

My organisational skills and business background get me ‘up to speed’ quickly which means I am able to utilise the current ‘in-house’skills to tackle the necessary issues to make the business work in lieu of relying on individual talents.

A common statement from business owners is ‘we are growing but I am always short of cash-flow’. This is usually caused by the business funding all growth out of normal cash flow. Unless you are operating on super and consistent sales margins, of course cash will always be short.

There is also a deficiency caused through not having a budget or measurable financial management systems in place to ensure accountability for weekly and monthly performance reviews. If these fundamental processes are not in place, you shouldn’t be surprised if you get to the end of the month and find a massive adverse financial surprise.

Businesses should not underestimate the importance and power of a good strategic business plan plus a financial management plan where accountabilities are measured along with company performance.

Australian business still has untold opportunities to be competitive on the world stage providing all of the control parameters are in place and employees know what their roles are and what they are accountable for. Employees must also feel as though they are an integral part of the decision making process and this only comes through a company committing to an uncompromised communication policy.

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