Turnaround and business recovery
How do you cope when you know your business is in difficulties with cash running out and debts mounting. What do you do?
The key difference between a business that survives and thrives and one that fails is how the owners/management respond to dealing with difficult situations.
It is easy to understand why a company gets into cashflow and financial problems when business is declining, but beware! Growing too quickly can put huge pressure on your cash flow (called ‘over-trading’), lead to fire-fighting, and cause a major financial crisis.
‘The key to successfully overcoming these problems is to have the awareness to recognise issues early when they arise, the courage to acknowledge the growing problem, the wisdom to tell the difference between a short-term blip and serious decline, and the strength to reach out for help from the experts who can fight alongside you to rescue your business so you stay in control.’
Delay caused by being unaware of the seriousness of the problem, denial, procrastination, or panic activity, can turn a manageable decline/distress situation into a crisis where the survival for the business is at stake.
How do i spot the warning signs?
Understanding where your business is in it’s life cycle is the key to successfully growing your business or rescuing it if it finds itself in trouble.
Recognising the early warning signs can help you take prompt action that can save your business.
Cashflow problems are by far the biggest pain point for SMEs. Top of most SME business owners worry list is whether they can make payroll, pay their VAT and tax bill on time, and manage their finances better.
And it’s why Cashflow, not Profit, is KING in your business.
Profit is essential for longevity but cashflow is crucial to survival.
Maximising cash flow will help ensure survival in difficult times and boost the finances your business needs to accelerate growth.
This is the moment of truth when, for survival, it is essential to show good leadership and keep your head under the immense pressure and build the right team with the skills and behaviours that will help you rescue your business.
Calling for support to immediately strengthen your team will ensure you have an experienced turnaround expert who specialises in rescuing businesses and helps you develop and deliver a well thought out recovery plan.
How can turnaround management help?
Turnaround skills are needed to rescue your business from going into insolvency and recovering it back to health to grow profitably once again. You can think of it like a ‘company doctor’ called to rescue the business facing an emergency financial crisis.
A turnaround specialist provides the skills and expertise to help recover the business and may advise or work hands-on to rescue the business alongside the directors and management of the company who stay in control of the company.
To find out how our turnaround specialists can help you, please get in touch.
"Obi is unique combining the skills of a CEO and a CFO. Obi understands businesses and how to make them fly. He is highly intelligent, personable and achieves results. The sort of person that you want on your team."
“He gets things done through his highly collaborative management style and with persuasive leadership. I have seen Obi inspire clinical engagement and gain buy-in from executive peers and divisional leadership teams – often in highly charged or challenging situations. He will take an integrated approach to often conflicting goals by linking finance, quality and operational priorities to deliver sustainable financial, quality and operational improvements.”
“Obi is highly intelligent. He understands how hospitals work and this allows him to deliver results. He will gain buy in and co-operation from clinicians, finance and operations to ensure your goals are achieved. He has a wealth of experience to draw upon in order to transform services, save money and engage staff - I needed a solution rather than a series of quick short-term wins – Obi delivered this, and I would definitely engage him again if the need arose.”
"I worked with Obi on a senior leadership project for an international hospital. It was a pleasure to work with someone who has the same strong work ethic! He was professional, extremely knowledgeable and added immense value to the project."
- Tracy Bedwell, MD of global M&D company
Obi is a person who can make a real difference through his ability to understand the key challenges involved in a turnaround or business improvement situation. He can work with stakeholders to both formulate a turnaround or improvement plan but most importantly to get buy in and actually deliver the plan. He has experience of a wide variety of industries primarily with SME's in the private sector and in the NHS in the public sector.
Stephen Burke, FD and Transformation Specialist
I have worked with Obi on a number of projects and found him to be diligent, well informed, highly experienced and able to follow through and deliver his work. I would certainly recommend him for any consulting engagements.
Jonathan Webb, CEO Clarity Associates Ltd
I have known and worked with Obi for the last ten years on a number of different projects in the NHS. All of these assignments have been complex, challenging and have required clinical, operational and financial changes to be made at pace. What sets Obi apart is his ability to take people with him through these changes and to communicate them clearly and appropriately to those impacted. The client is always disappointed when the work is complete as Obi is a joy to work with and has a passion for ensuring that the changes made are sustainable and management teams and their staff develop their capabilities/capacity along the way.
Iain Alexander - Partner, PwC, Leader Government & Health Industries Restructuring
In these mad times it's great to find someone who can help you out of looming financial trouble so I was delighted to be introduced to Obi who brought clarity to my complex network of businesses. Once things became more settled, I expected to need to find someone else to review the growth and expansion plans for my media business, but again Obi was an invaluable consultant on a whole range of financial and business growth issues. Now pleased to work with him as our outsourced FD on contract.
Jack Chew, CEO Physio Matters, Therapy Live and Chews Health