Tony Mitchell
Tony's recent articles
- And then it Snowed
29th October - Coventry is Still Optimistic
1st October - Money Isn't Everything
3rd September
Top Three Turnaround Tips
11th June 2008 08:57
I was contacted recently by an editor of a new magazine concentrating on corporate and business issues. He said that he was contacting a number of specialists in the Corporate Turnaround field and was looking for my top three turnaround tips to be included in a list of ten turnaround tips that he was putting together.
The request seemed timely and therefore I reproduce below my top three Turnaround Tips for companies during these testing times;
1. Cash is King
Controlling the cash is top of any turnaround assignment. Collect in as much as possible as fast as possible and reduce outgoings to an absolute minimum whilst taking a more detailed look at the business.
2. Accentuate the Positives
All companies are good at some aspects of their business. Identify what a company is good at and concentrate on that and in the process identify what it is not good at and look to drop these activities.
3. Planning and Information
Directors wouldn’t drive with a blacked out windscreen, so why do they try and run a businesses without a business plan and forecasts. Plan the immediate and medium term future, set targets and monitor actual results against those targets.
If you would like to know more about the publication in which these tips appeared or would like a copy of the article with the full list of ten tips please contact me.
Cranfield Business Recovery BBQ
Finally, the invites for this year’s Cranfield Business Recovery BBQ, which is held on Tuesday 8 July 2008, have now been sent out. If you haven’t received your invite, please get in touch.
