Business Turnaround and Performance Consulting
It’s a war out there. In any economy, building a small business is a challenge. When the economy declines and revenues shrink, the fight for customers and their dollars can be a fight for survival. Yet, if you blame the economy or come up with any other excuse why your business is not flourishing, then you aren’t fighting effectively for your companies survival, emergence and success.
You make or break your own business. Take responsibility. Look around and you will see there are businesses doing very well. Why you ask? Because they are in action with viable plans and good business practices that result in growing sales and profits. They adapt and change.
There are successful businesses opening and operating in every economy, every day, every season, every year that are located next door to failures. If you truly believe success or failure is a function of external forces, you are doomed, as external forces always happen and are typically out of your control. Since we cannot control these factors but can control our own business practices, we must direct our energies towards that which we can control as we chart our business course to embrace necessary and appropriate changes.
That is where Second Wind comes in. We will help you design and implement an effective plan for the success of your business using our “Four Pillar Turnaround & Workout Strategy.”
Pillar 1: Management by the Numbers
Numbers are the language of business. No longer can you expect to be successful without becoming fluent in your numbers. Cash flow pro-formas, profit and loss statements, key indicator systems, incentive based reward systems, accounts receivable collection systems, accounts payable payment systems, pricing strategies, payroll ratios, are all required if you are to survive, emerge and succeed in today’s economy.
“I am not a numbers guy” is no longer acceptable. “My accountant knows that” does not work. If you intend to be successful in the small business world, you must become fluent with your numbers… or become a statistic.
Pillar one explains how to implement a proper analysis of your business finances and coaches you on how to properly monitor your numbers going forward.
Pillar 2: Re-Invention
Reinvention: Changing yourself first, so you can then change your business.
- Changing your business model in order to maximize profits, not gross revenues. To become relevant in todays market.
- Meeting the needs of today’s marketplace, and effectively creating a new competitive advantage.
- Disengaging from your history, and moving into the future.
- Creating a niche market within which you are the best.
- Service, delivering the best service imaginable is an excellent way to re-invent yourself and create a competitive advantage.
As a business owner, you are always thinking about your business and looking for opportunities. However, an outsiders look at your operation can bring fresh ideas, insights and strategies for bringing your business into the modern age. We help you explore these new possibilities and get your performing at the level your business requires.
Pillar 3: Sales & Marketing
We all know internet marketing is a must do for most small businesses. We all understand that we need to have an internet marketing strategy, but now we must make the leap into using it effectively, to use it an a source of leads for your business sales engine.
It requires a huge commitment and a deeper understanding of the changes going on in our modern world. It is all about creating a community, and engaging with your market place, it is not only about selling, it is about becoming part of your business community. Blogs, video, social networking are game changing opportunities that must be taken advantage of.
Standard tried and true sales and marketing strategies never get old, they must be implemented. You cannot wait for the sale to come to you, you must go out and get it.
The business owners must become part of the sales effort and multiple channels need to be utilized in order to grow your sales funnel. We can help analyze and develop a more effective sales strategy for your business.
Pillar 4: Debt Work-Out
A well-orchestrated debt workout program can preserve your assets and rid you of most of your debt, leaving you in control of your destiny and allowing your business to remain operating, as opposed to foreclosure and liquidation by auction by the banks, the IRS, creditors of all sorts.
Any debt can be worked out within our powerful strategies: secured bank debt, SBA guaranteed debt, unsecured debt, vendor debt, lease obligations, landlord obligations, lines of credit, credit card debt, IRS payroll debt, all debt can be worked out, we do it every day, successfully, without bankruptcy.
If you are suffering from reduced revenue and cannot service your debt, debt workout strategies must be a critical component of your overall turnaround effort.