SERVICES FOR MY BUSINESS
BUSINESS TURNAROUND

OVERVIEW

At Rapsey Griffiths we’re passionate about keeping businesses afloat. Yes, we offer a number of insolvency services, however we’re dedicated to assisting business owners in developing and implementing appropriate strategies to return their business to profitability.

Our team has the experience and skillset to apply sound practices of turnaround management to successfully navigate distressed businesses through the corporate renewal process. Via early intervention and an expert and collaborative approach, we give businesses the best chance to recover and then succeed.

Why use a turnaround specialist?

With a fresh set of eyes, our team is able to come in with complete objectivity – able to analyse and see solutions that people too close to the business simply can’t see.
This objectivity is also advantageous when critical decisions need to be made – a significant part of the turnaround process. To stop a company going under, difficult decisions are required quickly. That’s why a Turnaround Specialist is vital.

When do you need a turnaround specialist?

There are a number of circumstances where a Turnaround Specialist can help businesses stay afloat, including:

• When downsizing doesn’t work.
• When volatile environments turn CEOs into hesitant managers.
• When new lender liability laws restrict banks from taking control of businesses.

What to expect

We follow a proven process in order to turnaround your business before it’s to late. Our 5 steps to success are as follows:

Step 1: Expert analysis of the situation

We begin by embarking on a fact-finding mission to see where the business currently sits; what the severity of the situation is.

Step 2: Possible change in management

We need to rectify the situation the business finds itself in. And change is only possible when the leadership is on board. Any leaders that are resistant may need to be replaced.

Step 3: Implementation of an action plan

The first act is to establish a positive cash flow, quickly. Then we outline a plan to restructure outstanding debt obligations, improve working capital management, reduce operating costs, improve budgeting practices, correct product line and customer mix pricing, prune product lines, and accelerate high-potential products.

Step 4: Restructure the business

Once the ship has been steadied, turnaround efforts are directed toward making the remaining business operations effective and efficient. The company must be restructured to increase profitability.

Stage 5: Return to normal

In this last step, the business slowly returns to profitability. While earlier steps concentrate on correcting problems, the final stage focuses on institutionalising an emphasis on profitability and return on equity.

Let’s talk today about how we can get your business back on track.