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Our Rescue, Recovery & Turnaround Service

 

 

 

Here is our 7-Step Rescue, Recovery and Turnaround Process. It has helped many owner-controlled businesses to overcome their difficulties and become much more successful than before. The process is designed to make your business Investment-Ready (to raise money quicker and on the best terms) OR to make it Exit-Ready (so you can get the best price when cashing in your chips):

Step 1 – What is your most pressing problem? (15 minutes)

The first step is to zero in on exactly what the directors feel is the most pressing problem threatening the business.  It could be any of a variety of problems; in some cases separate from the business itself.   For example, personal problems of the directors or key staff which spill over into the business. More typically, it's a cash flow or cash starvation problem. Pressure on directors from trade creditors, suppliers, HMRC, landlords, customer complaints, legal threats, staff resignations or claims and many more. We've seen it all before and know how to help you with least cost and stress.

Step 2 – We scope the problem to make sure we've not missed anything (30 minutes)

Very often we discover that the biggest threat to your business is not what you think it is.   When you give us all the relevant information we can select the right Business Specialist(s) for you from our team.  You can then telephone and email each other, or meet for a half hour when convenient.

Step 3 – The Business Situation Review (BSR) - No Cost (4 hours max.)

After our Specialist understands the scope of the problems the next step is to see what are the best options for you to consider. This is our Business Situation Review stage and takes 2-3 hours on site with the you and your key staff such as your Chief Financial Officer. We need financial information and all the legal and contractual papers relating to personal guarantees, loan agreements, sales and supplier contracts, employment contracts, etc. Within 24 hours of the visit we send you a Preliminary Report setting out your best options to deal with the issues. We also give you an estimate of the time and costs involved in each of the options (ie our costs plus any other costs such as legal, accounting, valuations, etc.)

Step 4 – The 100-Day Turnaround Plan (3 days)

After you have reviewed the BSR Preliminary Report, we will agree with you how best to implement our recommendations. A turnaround, by definition, means a change into a new business model or radical enhancement of the existing one. It also means there is no time to waste. Our solution is a well-structured 100-Day Turnaround Plan tailored to achieve your personal objectives. The first stage is the Preparation Stage (3 days) where you set out your definite preferences, tolerances and expectations. From this we create your scheduled and checklisted 100-Day Turnaround Plan.

Step 5 – The Orientation Phase (7 days)

Having set out your clearly defined objectives, you select which creditors, suppliers and customers to notify of our engagement as your business management advisors. We then become your GOTO department for all problems related to them.  We establish a friendly rapport with them so you can step back and get on with running your business, leaving the problem management issues to us.  We report back daily.

Step 6 – The Development Phase (30 days)

During this 30 day period we become very involved in putting fires out.  Also in gaining time for solutions to be worked out over days, weeks and even months. Time is your enemy but we can create time to give you more room to operate without deadline pressures. This phase focuses on cash flow management which is the key to building up the businesses's immune system and generating new life into it.

Step 7 - The Production Phase (60 days)

By this time the business is beginning to take on a different shape since most of the necessary changes would have been initiated and many completed. This is where we reshape the financials and management team in order to prepare a viable proposition for funding. This is called making the business Investment Ready. Extra cash is easiest obtained from the bank, suppliers and even customers (through expert debtor-creditor management). But this can only happen if the business is packaged professionally with believable scenario modelling and forecasts.

You have nothing to lose, and everything to gain, by calling us for a chat and a free Business Situation Review & Report.

Give us a call or email us below. 

Telephone: 079100 48956

Email: turnaround@success100.co.uk