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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.

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).

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

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.

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).


Stephen Moon, Director, Venturn Ltd

Further Reading on our recent articles,

What is an Operational Turnaround?

Common causes of business failure

Key elements of a smart business turnaround

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

Why a quick fix it not the answer