How to steer your business through times of financial distress and achieve sustained profitability Corporate Turnaround Artistry is a complete guide for entrepreneurial companies caught in financial distress―presenting insider strategies and proven methods to revive and rehabilitate any business, under nearly any circumstance. Corporate Turnaround Artistry goes way beyond basic cost cutting and teaches you what no MBA program will; the deep insider secrets of controlling cash, gaining creditor support, and developing a comprehensive turnaround plan that your entire stakeholder community will support. When tough times strike, business leaders and entrepreneurs often reach for new debt to get them through. Author and Certified Turnaround Practitioner Jeff Sands shows how to fix a business on its existing revenue base, usually with no outside money. Includes expert advice on topics including cashflow stabilization, short and long-term profit sustainability, crisis management skills, debt restructuring, and more. Corporate Turnaround Artistry provides the framework to a timely and efficient corporate turnaround. From identifying the initial cash crisis to meeting with creditors and developing a plan, this essential resource will help Thousands of businesses fall into financial stress every year―oftentimes in sudden and dramatic fashion―leaving CEOs and owners asking the question "How do I save my business"? Corporate Turnaround Fix Any Business in 100 Days provides the answer.
Cash conversion cycle, debt stack, common business killers, forbearance, Running a business on cash and how to pull it from the balance sheet, 13wcff, turnaround plans, comprehensive chapter 11 bankruptcy restructuring overview, going concern value, global bankruptcy history kinda neat, some stuff on interfacing with creditors
Qualifications don’t precede performance Best turnarounds start with a shock Sacrificial lambs kickstart change; lenders want to see blood **4 Legged stool - Employees customers vendors ownership
I loved it. It was simple and to the point, yet extremely insightful. I especially liked his genuine tone and willingness to show vulnerability by sharing painful personal past experiences.
Most people believe that turnarounds mainly involve an in-depth knowledge of corporate finance but it's just as much, if not more in certain situations, about psychology and being a really good salesman. This book is a good reminder of that.
Jeff's book is one of the most concise turnaround books available. A few chapters in...I texted all of my colleagues and insisted they pick up a copy as well! Whether you're just getting into your first turnaround or a seasoned vet, I'd recommend his book. He's also very generous with his time and was kind enough to answer a few of my stupid questions.
playbook into turnarounds and steps from distressed to next thing, whether out and through bankruptcy or closing down. somewhat boils down to being honest, transparent and actively managing what you can control.
Good overview of the bankruptcy process, but that is really all the book is, not a guide on how to actually fix any business in 100 days as the title leads one to believe.