Business Transformation
Many business owners face a strategic crisis at some point in their careers due to financial stress or cash flow.
A turnaround is a period of transition, renewal, and pivoting towards growth.
The earlier a business realizes that it needs help, the more options you have in dealing with the crisis.
Companies seem to dislike the term ‘turnaround consulting’ because it represents failure. The truth is that turnaround consulting represents success at realizing the company is going in the wrong direction. The only time the company fails is when it is not possible to do a turnaround anymore.
We help companies pivot into more profitable directions where they can expand and grow. It is inevitable that companies will end up making a few mistakes; we help them correct these mistakes.
We support companies to turn around their non-profitable ventures into something that benefits them. Our specialty lies in understanding what makes a company special and what makes it tick.
HMH Vision – our turnaround experts specialize in developing roadmaps for companies that need a turnaround solution. We work hand-in-hand with our clients, helping to define what their win success looks like and then establishing a plan of action to achieve those results.
Business Turnaround vs Business Restructuring
Both business turnaround and business restructuring are aimed at rescuing business to avoid liquidation. Nonetheless, even whilst their overall goal is the same, they are quite different in nature.
Business turnarounds occur over a period of time in which the business makes a notable effort to improve and bring stability to the business’s future.
It is a hands-on process that requires acknowledging the problems, considering necessary changes, and developing and implementing an action plan to resolve the financial crisis.
Business restructuring is a more formal process aimed at helping businesses in severe financial distress.
It focuses on the debt and equity of the business, the cash flow, debt carrying ability, and valuation of the business and its components. This formal process allows for different negotiations with creditors instead of the more informal approach of a turnaround.
Typical Recovery Services
Turnaround consulting services are typically concerned with cash flow management issues and/or other operational crises affecting a companies liquidity.
As any number of factors can contribute to a liquidity crisis, tailored services may address either particular financial issues burdening a business or target the improvement of business operations in general.
Truth being told, there is not a single template solution that would apply to all businesses in general. Services are usually tailored to the specific needs of the company in crisis after a thorough assessment has taken place.
Typical services provided during a business turnaround situation may include selling of assets, workforce reduction, debt restructuring , or even a repositioning of the business in its market. In addition, it is not seldom that existing company structures and long-term business goals need to be analyzed in order to provide recommendations to improve and then maintain performance for lasting success.
Why choose HMH Vision
The right recovery professional can clearly identify the causes of a businesses financial challenges and, with a wide experience, can provide actionable measures to correct these.
In addition, and most like even more importantly, a business recovery specialist can offer a more objective perspective on a business’s finances and operations that too closely involved people might not recognize or may be afraid to openly identify.
Not even assuming anyone in the problem business would not be competent, it can be difficult to properly assess business problems from a top-down, comprehensive view when everyone is deeply involved within the current hurdles of daily operations to keep the business afloat.
Would your business benefit from a Recovery Consultant?
- Is your business suffering from serious financial challenges ?
- Is your cash flow forecast bad?
- Are revenue issues are putting daily operations and long-term business growth in jeopardy?
If any of these questions are answered with YES then implementing a strategic business turnaround program is advisable.
Our recovery services are most appropriate for those experiencing some form of operational crisis and not necessarily for those businesses that simply are interested in business transformation or growth.
Key to the effectiveness of the services we provide is that the company is receptive to changing its processes. If that is the case, dramatic improvements can be made with the help of our turnaround specialists by driving cost reduction and increase profitability.