Red To Black The Art Of The Corporate Turnaround

Everywhere you look, businesses are closing their doors - both recent startups and long-standing establishments. No matter which statistics you read, it seems that the odds are against success for small-to-medium- sized businesses. Is closing the doors inevitable once the balance sheet reads red so many months in a row? Perry M. Anderson replies with a resounding No! This book offers hope and help to distressed business owners and managers in need of an immediate turn-around solution. Perry understands that it is not "just a business." Instead, it is the livelihoods that real families depend on. Appreciative of the urgency with which complex and high-impact decisions must be made, he delineates those tasks that must be done now in order to stave off the creditors, and the steps to undertake next in bringing the company back from the brink. In compassionate yet no-nonsense terms, Mr. Anderson shines a light through the shadow of bankruptcy onto the landscape of business turnaround.

I introduced myself to David as a "profit improvement consultant." Most clients dislike the term "business turnaround specialist." The mission is the same: pull the company off the ledge of bankruptcy and get to positive cashflow and profitability as quickly as possible. David's company was, on the outside, successful. He'd created a fantastic product (in this case, innovative hurricane shutters for residential and commercial Florida), but his operations were bleeding his cash. The further they projected out, the more red the numbers became. David had one Hail Mary-that was me. I came in to assess his company on Monday, December 7th, and we had until Monday, January 8th, just five weeks, to bring his company from red to black. In the pages of this book, you'll see the behind-the-scenes of exactly how this turnaround was executed. And by Tuesday, July 6th, within six months, the company was fully righted and had become the most profitable company in its vertical in the state of Florida. In fact, David had planned to sell his company. But by the time all of these Profit Improvement items were complete, the company was so profitable, he decided to keep the company, bought a boat, and started fishing on the weekends, knowing his company had a profitable future. This is only one of case study in my twenty years of turning around companies, and I chose this case study exactly because it highlights so many of the lessons I've learned over the years that I want to pass on to business owners who are seeking to maximize the profits in their company. And the ultimate lesson is this: There is no substitute for a strong leader to make a company profitable. Read From Red to Black, and you will learn how to be that leader.

Robert Curry is a business turnaround consultant with twenty years of experience. In The Turnaround, sequel to the number-one ranking business book From Red to Black, he faces his next big challenge. Poor leadership and inefficiency led to this Pennsylvania-based company losing $1 million in profits- despite $48 million in sales. In spite of these obstacles, Robert made this business profitable again- in only thirty days. Learn from Robert's techniques as he eliminates nonproductive employees, generates operating budgets, implements spending controls, improves financial reporting, upgrades corporate policies, communication and procedures, and establishes corporate and personal goals. In The Turnaround, Bob shares his profit-improvement skills and tasks with you so you can use them in your company or organization. His invaluable knowledge will help you keep your own business in the black.

Roll Up Your Sleeves & Fix the Problem! ABC Hurricane Shutters, a Florida-based company, was on the verge of Chapter 11 bankruptcy, having recorded losses in each of the preceding three years. In From Red to Black: A Business Turnaround, Robert S. Curry shares his thought process, action steps, and profit improvement recommendations throughout his turnaround engagement at the shutter company. After Bob's first meeting with the owner, he developed a detailed plan for recovery and was engaged the next day. Within four months, the company had made a complete turnaround with nearly every "must-do" completed. Thanks to Bob's efforts, ABC was well on its way to becoming the most profitable hurricane shutter company in Florida. While every business in distress is unique, Bob's philosophy is that everyone in the company has to roll up their sleeves and work hard to fix the problems or find a new place to work. Effective communication is paramount. He begins every engagement by listening and says of this particular business turnaround, "I spent the first two weeks listening to managers and staff, all of whom had a perception of what was wrong with the company. My father told me a long time ago, 'God gave you two ears and one mouth, so listen, and you will learn!' And so that's what I did-and always do." The takeaway lessons in this illustrative story are sure to spark your ideas on how to turn a troubled company around and help you take proactive steps toward financial stability and profit. As Bob always says, there is no substitute for a strong leader to make a company profitable. Read From Red to Black, and you will learn how to be that leader.

This Book will address all the rules that a leader needs to address the changing world that led to ever changing corporate dynamics and put so much pressure on financial balance sheets, P&L, people, customers, technology pipeline, efficiency, talent development and all what we took for granted for decades. The art of Turnaround (& disruption) are set of tested, validated and proved rules that leaders used over and over, some worked, and many others are lessons learned for what Not to do. Preface Chapter 1 - Cost Cutting Chapter 2 - Disruptions Chapter 3 - Post Pandemic Disruptions Chapter 4 - Key Performance Indicators Chapter 5 - Leadership Development Chapter 6 - Mindset Chapter 7 - Organization restructure Chapter 8 - Succession Planning Chapter 9 - Exit of Unprofitable Businesses Chapter 10 - Rebuild A-TeamAbout the Author Operations Director with successful track record at transforming under-performing global Fortune 500 companies into thriving and profitable enterprises. She is highly skilled at analyzing business performance, identifying areas in need of improvement, and delivering effective solutions that improve operational performance and business profitability. As an executive, He strives to empower teams to achieve a high level of performance and success. Sherif is fluent in getting customer feedback, developing customized client focused scenarios, building turnaround plans, leading cross functional teams, prioritization and EXECUTE. He is passionate about delivering Safest Operations and Highest Operational Efficiency and focused at building collaborations, agreement, and motivation in matrix teams including strategy development and execution, operations, legal, finance, supply chain, supplier management and marketing around the shared objective of leading profitable businesses. Expertise is informed by a solid educational foundation with an MBA from INSEAD, BSc. in Industrial Engineering and MSc. in Engineering Management.

Leveraging People for a Corporate Turnaround recounts the thought processes and actions necessary to turn an ailing company or business unit around. The book emphasizes that to be effective, such efforts must be led by managers with business expertise, good judgment, and outstanding people skills. Much of the existing literature on corporate turnarounds focuses on business operations: legal, bankruptcy, and management accounting issues. Too often, such books view staff as merely an expense to be cut, a commodity to 'downsize' or 'rightsize.' In contrast, this book emphasizes that people's skills, concerns, motives, aspirations, and deficiencies are central factors in determining the success of any enterprise, and in particular one that is ailing. Leveraging People for a Corporate Turnaround provides its readers, be they seasoned managers, newly-promoted managers, or students of management, with the insight needed to succeed. Management and operations best practices are combined with practical, easily grasped principles and processes for leveraging people's diverse talents and skills, in order to stanch the red ink, heal the wounds in the corporate body, and put the company back on its feet.