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6 key tips for Operational Turnaround

Operational Turnaround is about achieving more for less. It concentrates on fixing the underlying business issues that got you into the mess in the first place, and this in turn increases profits.

Our 6 Key tips for an Operational Turnaround are,

Tip 1 : Experience – Things get tough in Turnarounds, and achieving what can sometimes appear like the impossible can only be done when you’ve got some extra fire power and the benefit of a Company Doctor who’s been there before. Make sure that you buy in this experience and hire an experienced turnaround practitioner (read more here)

Tip 2 : Lean - Getting more for less is the basic principle of Lean. Waste in any business translates directly into losses on the bottom line and so must be minimised.

http://www.venturn.com/article-get-your-organisation-chart-right.php

Tip 3 : Team work – Getting everybody on the same page and pulling in the same direction is essential. It means everyone getting their hands dirty to make things work (read more here).

http://www.venturn.com/article-get-your-organisation-chart-right.php

Tip 4 : Common sense – keeping things simple and focussing on the basics. Remember communication is key.

http://www.venturn.com/article-get-your-organisation-chart-right.php

Tip 5 : Objective view – Sometimes the solution to a problem is right in front of you. Don’t hold back here, every stone must be turned over.

http://www.venturn.com/article-get-your-organisation-chart-right.php

Tip 6 : Additional resource – External pressure on cash from banks, lenders, investors or creditors often means that time isn’t on your side. You wouldn’t chose a DIY strategy for company law or accounting, so make sure that you get expert help when you really need it
(read more here).

Read More...

Stephen Moon, Director, Venturn Ltd

Further Reading on our recent articles,

http://www.venturn.com/article-get-your-organisation-chart-right.php

What is an Operational Turnaround?

http://www.venturn.com/article-get-your-organisation-chart-right.php

Common causes of business failure

http://www.venturn.com/article-get-your-organisation-chart-right.php

Key elements of a smart business turnaround

http://www.venturn.com/article-get-your-organisation-chart-right.php

Do I need a Turnaround Practitioner, Turnaround Interim or Company Doctor?

http://www.venturn.com/article-get-your-organisation-chart-right.php

Why a quick fix it not the answer



Latest client feedback

"I was impressed by Stephen Moon’s grasp of the issues and the speed at which he was able to turn matters around"

Nick Button, Senior Partner, Button Legal LLP – June 2010

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About Venturn Ltd

We help our clients get more out of their business. Whether they are looking to redress underperformance, overcome financial problems or gear up to maximise growth potential. We address the issues in a no nonsense pragmatic way and provide leadership experience when you really need it.

Venturn are an operational improvement team with extensive experience of supporting businesses with growing pains, trading difficulties or general management issues. We generally work on an advisory or interim placement basis focusing on delivering sustainable improvements to the bottom line.

We don’t call ourselves consultants as we go beyond the stereotypical reports and presentations and go into the inner workings of a company. We roll our sleeves up, and work together with you to fix the underlying issues.