The Ventor Turnaround Engagement
The Plan
The turnaround plan consists of:
1. Identifying your Core Products and Core Customers.
2. Gross Margin Improvement measures
3. Project management
And,
4. Budget and presentation suitable for discussion with your board, lenders and investors.
Why these elements?
Well, the Core Products and Core Customer analysis is essential strategic information. It tells you where you are making and losing money and how to point the enterprise in the right direction. It also is a key effort in maximizing margin.
Gross margin improvement plan is about reducing errors that cost time and money. For many companies we call this “reducing the cost of quality.”
With these two efforts, we work together to maximize margins as quickly as possible.
Project management: that’s where we take all the next steps that come out of the Core Products/ Core customer and Gross Margin Improvement plan to create discrete projects to maximize results which you—and your team—implement.
What are these next steps? Well, it depends on your situation. Here are some of the tactical plans we have created in the past:
- Restaurant company—portioning and new recipe project
- Printing company— new customer service process
- Equipment Dealership—Sell excess real estate
- Resort company—sale of subsidiary and a project to eliminate duplicate IT
- Stamping company—revamped order management process, new job costing process
- Housewares company—reduced cost of online customer acquisition and launched new campaign
You get the idea. Each of these projects was custom formulated for the client, in a way that would improve margins and solve long-standing problems at the root cause.
Lastly, the Budget and Presentation are important because we believe that it is not enough to regain control of your compamy—you must demonstrate control. A detailed budget is a way to demonstrate you know the variables, you have a plan to control them and you are comfortable making a promise to your selves–and to your stakeholders.
Project management-another look
But, when it comes to Team, our project management expertise is unparalleled. We help you determine the right project to undertake; help with setting up the elements of successful project management; and monitor and coach for success.
Effectiveness–what you get from great project management– is a great company value!
Financing.
Lets be clear: producing a good turnaround plan is the best way to assure financing. We take all the operating and financing variables and help you craft a compelling story to your current and prospective lenders and investors. And if you don’t have enough contacts to fill teh financing need, we can easily provide ours.