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.
“No one has ever failed to find the facts they are looking for.” Peter Drucker
Fred Wilson has written an introduction to Venture Debt, a product that is available in Canada as well.
Every business owner that intends in the future to sell some, or all, of the business could benefit from a thorough understanding of the value of the business today and the metrics that drive the valuation. Annual business plans should include a plan to directly improve the relevant metrics.
