Focus on the Engine in a Turnaournd
When a company is in trouble, management must side-step the external stresses and focus more on core profit generating activities.
When a company is in trouble, management must side-step the external stresses and focus more on core profit generating activities.
Inside is an article in HBR containing practical advice on the process of raising early stage VC money.
“The Goldman Four were unsupervised, inexperienced, incompetent and lazy investment bankers who were put on a transaction that in the scheme of things was small potatoes for Goldman.” – NYT
Management sponsored turnaround plans always boil down to: i) tweaking the existing business plan; and, ii) getting more money. But, every troubled business is troubled because existing management was ineffective.
Those who know us best will tell you Range Advisors excels at providing going concern solutions to troubled companies. Over the coming weeks and months, we will explore tips and guidance from the turnaround trenches. Inside are 10 turnaround tips to get you started.