Business Turnaround Consulting
“Things have changed – what do I do”?
If you’re like most business owners, you’ve invested a lot personal capital in your business: worked long hours, borrowed money, and missed family events. Until recently, the business did well and provided you and your employees a nice income. Now you find yourself saying “Things have changed – what do I do”?
It is important to act quickly and decisively to avoid even greater problems, such as filing for bankruptcy and to avoid legal issues that may arise from unpaid taxes and debt. Acting promptly can save your business.
Your business will show danger signs that it is under stress. If you are experiencing one or more of the following danger signs call us for a free consultation:
- Sales growth has slowed – you are consistently falling short of your sales quota.
- Customers/clients are taking longer to pay –
- Late on your rent – you’re paying your rent later and later each month.
- Can’t make payroll – You are worrying about making the next payroll.
- Aging Inventory – Your inventory is so old you can write your name in the dust.
- Can’t pay your vendors – phone never stops ringing, vendors not shipping.
- Behind on taxes – if you are thinking of not paying your payroll taxes you are in trouble.
The Turnaround Process
When you hire RSMitchell Consulting as your turnaround consultant we will customize a plan for your business and work with you and your management to implement it.
- First, you have heard it before “Cash is King” – we will stabilize your cash flow and work with you to calm your creditors.
- Second, we will run through our proprietary testing and triage the business. We will identify the problem areas, prioritize them, recommend solutions, prepare a weekly cash forecast, and develop a written turnaround plan for your company.
- Third, we will prepare a series of specific actions items and help you implement them as we guide the turnaround to a successful conclusion.
What Does This Cost?
As you would expect, the fee is determined by the severity of the problem and the time estimated to complete the turnaround. Our services are a fixed fee. Our success is linked to your success and we will work with you to match the payments to the turnaround of your business. This way, you know before we begin exactly what it will cost to turn your company around, and there will be no surprises.