Turnaround
Analysis
If you have found the right turnaround professional you should answer yes to the following 5 questions:
1. Is your Turnaround professional experienced in restructuring businesses ?
Business CPR has over 50 years of combined experience in the restructuring business, a wealth of diverse business experience and Brett Fadeley is a former head of Special Assets.
2. Is your turnaround professional an experienced negotiator?
The turnaround professionals at Business CPR are highly skilled negotiators. Using our skill and creativity we have successfully negotiated our way out of extremely difficult situations.
3. Has your turnaround professional successfully formulated and implemented restructure plans?
Since its inception, Business CPR has many case studies of turnarounds where we arrived, mitigated a crisis, created liquidity to make payroll, completed a Business CPR Diagnostic, devised a turnaround strategy, obtained buy-in of the secured lenders and trade creditors and implemented our plan.
4. Does your turnaround professional have an understanding of how problem loans are handled by a lender?
The founding partners at Business CPR have successfully negotiated dozens of problem loans with Special Assets mainly because we understand what drives the decisions of the people managing the problem loan portfolio. In addition, Business CPR is unique in being the only turnaround firm we know of where a partner is a former head of Special Assets, a position Brett Fadeley has held.
5. Do you, the CEO,have chemistry and rapport with the turnaround professional you are interviewing?
We will let you decide that one. One thing the co founders of Business CPR Brett Fadeley and Michael Hannwacker always say "you do not sell turnaround services, instead you educate the client on your skill set's, experience and credibility and if the chemistry and rapport is present the deal will take care of itself".
PS A question NOT to ask is : Do you have industry experience?
Many clients seeking to retain our services always believe they should ask; Do you have industry experience?
Although Business CPR experience in a broad range of industries including wholesale distribution, manufacturing, technology, contracting services, food processing etc we do advise you not to ask the turnaround professional about experience in your industry. Why? Because it doesn't not matter. There are several reasons:
1. A turnaround is a highly structured process. Its about right sizing the business and restructuring your debt to accommodate your new or modified business model.
2. Your executive team are the subjective matter experts on your business. They have an in depth knowledge of your industry, your customers and your vendors.
So in short your turnaround professional needs to implement a refined, process driven turnaround while using your teams industry experience.
TURNAROUNDS
80 mm Distributor
50 mm Wholesaler
10 mm Distributor
6 mm Manufacturer
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