{"id":10939,"date":"2015-01-20T19:32:23","date_gmt":"2015-01-20T19:32:23","guid":{"rendered":"https:\/\/www.leadershipof.technology\/?post_type=avada_portfolio&p=10939"},"modified":"2015-01-20T19:32:23","modified_gmt":"2015-01-20T19:32:23","slug":"turnaround-business-coaching-services","status":"publish","type":"avada_portfolio","link":"https:\/\/winningthinking.co.uk\/?avada_portfolio=turnaround-business-coaching-services","title":{"rendered":"Turnaround (Business Coaching Services)"},"content":{"rendered":"

The chairman originally made contact to implement a \u201cclient management system\u201d.\u00a0 The brief was in fact \"\"very different,\u00a0 within a week of dialogue this SME had run out of cash, and an interim MD was required to work along side the chairman to turn the business around. The business had no SOP planning, a disparate sales team, and terms than made cash flow very difficult to manage. As the business run out of cash it became clear that the scenario was in fact a turnaround.\u00a0 The incumbent owner \/ managing director whilst excellent technically and on business development, was commercially unaware, and\u00a0 needed significant support and the supporting team were rather disconnected from the business<\/p>\n

\u00a0Impact on the business \/ bottom line<\/h3>\n

The business model\u00a0 was identified to generate a sustaining margin and re-negotiated terms and completed a CVA with the vendors. It became clear the business\u00a0 revenue was not secure enough and overhead structure difficult to reduce so it became clear a merger was the best option. Another interim MD was engaged as a potential purchaser, pending merging the business with a leader in the field that could easily absorb the revenue, commercially capitalise on the Intellectual Property. A short term cash injection was found from the merger partner , during the period of acquisition to keep the business solvent and trading and a sale was completed after a month of due diligence and a further CVA with creditors.<\/p>\n

\u00a0Overall contribution \/ achievement of objectives<\/h3>\n

The sustainable business and delivery structure was sold to the merger partner from the start in 6 weeks and the business was successfully incorporated into the new structure, providing a ongoing role for the owner manager , with equity and a site closure.<\/p>\n

\u00a0Working style<\/h3>\n

After exploring all the options, and facing up to the creditors formally with the new model, it was clear there was a good core business. The business\u00a0 required a clear direction,\u00a0 and having figured out the options the incumbent team\u00a0 under Toms leadership did the analysis and\u00a0 developed the best course of action. An immediate set of controls were put into place to\u00a0 manage profitability for all current and existing business , to immediately correct the bottom line and manage the financial position and cash. This work was run in parallel with formal advice from and Insolvency Practition firm, and closely\u00a0 managed with day-day financial controls<\/p>\n

\u00a0Leadership \/ people management skills<\/h3>\n

Hands on decisive people development focused, faced and addressed the tough issues, got all stakeholder on board to become part of the long terms solution whilst recognising\u00a0 the issues that gave rise to the crisis. Incumbent owner MD was redeployed\u00a0 into a role that played to his strengths<\/p>\n

\u00a0Legacy<\/h3>\n

The business continues with the merger partner today with the best of what could be salvaged from the original team\u00a0 and Intellectual property.<\/p>\n","protected":false},"excerpt":{"rendered":"

The chairman originally made contact to implement a \u201cclient management […]<\/p>\n","protected":false},"author":5,"featured_media":12660,"menu_order":27,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"footnotes":""},"portfolio_category":[91],"portfolio_skills":[63,66,94,97,102,104],"portfolio_tags":[],"class_list":["post-10939","avada_portfolio","type-avada_portfolio","status-publish","format-standard","has-post-thumbnail","hentry","portfolio_category-professional-services","portfolio_skills-complex-program-management","portfolio_skills-culture-change","portfolio_skills-restructuring","portfolio_skills-succession","portfolio_skills-transformation","portfolio_skills-turnaround"],"yoast_head":"\nTurnaround (Business Coaching Services) - www.winningthinking.co.uk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/winningthinking.co.uk\/?avada_portfolio=turnaround-business-coaching-services\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Turnaround (Business Coaching Services) - 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