Why Businesses Need Turnaround Executives

Hiring a turnaround executive may be one of the most important and critical business survival decisions a business will make.

Any business, even one with a long history of strong performance, will at some stage need to introduce fresh ideas or change direction to remain competitive.

For underperforming or distressed businesses, stabilisation and careful steering out of crisis is required before setting out in a new direction.

In both cases, it is extremely difficult for people within the business to find the time or energy to objectively and critically evaluate what direction the business should take.

Those who take the time to think about the future of their business will consider hiring turnaround executives to help with the challenges.

How turnaround executives help businesses…

Should You Sell a Non-Core Business?

Non-core businesses are created usually from acquisitions, mergers or as a result of synergies with the core group activities.

They can be the “forgotten child” of business. Once purchased or set-up, the original recognition of the unique features that would add value to the group is forgotten and the core business takes over focus, to the detriment of the non-core business.

It is common to see ASX 200 companies divest non-core businesses to focus on their core activities.

However, boards and Group Leadership Teams (GLT) really do need to understand and care about non-core businesses for them to succeed.

There can be value in retaining a non-core business.

How your business can survive the looming economic downturn

The worst thing Australian businesses can do during the “new GFC” conditions they will face over the next year is batten down the hatches and just try to survive.

Signs of economic slowdown in China, combined with a predicted poor retail result over Christmas and concerns over carbon tax impact, mean 2012 will be an incredibly challenging one for many businesses – I believe tougher than the original GFC aftermath.

Whether or not we fall into recession is irrelevant, business is facing extremely tough conditions. We can see among clients that bank finance is becoming tight again and credit rationing will be a factor.

The worst thing a business can do is approach this period with a “bunker down” attitude.

Ready to sell? How to make your family business stand out from the crowd

There are five key actions you can take to get your family business sale-ready, and make it stand out in an overcrowded sales market.

In my previous blog, I explained that in the next five to 10 years there will be an avalanche of family businesses coming onto the market in Australia, as baby boomers retire and their children are reluctant to take over.

In our experience, the real issue is getting to the business early enough to assist in a successful sale.

It’s crucial to make this process as easy as possible for the buyer, and to ensure your business stands out from the crowd. Here’s how…

Business Exit Strategies for Baby Boomers

A key question posed by any business turnaround or profit improvement specialist, when they are asked to assist a business, is: “what is the exit strategy for the owners and directors?”

We’re astounded that some business owners don’t have a clear idea or strategy about what they should do, and when, to achieve their exit strategy.

That is, if they have an exit strategy at all.

How To Succeed In The Manufacturing Industry

This is the last in a four part series that looks at four of Australia’s core industries – Mining Services, Transport, Retail and Manufacturing.

In Australia, the manufacturing sector has grown at an average rate of 0.9% p.a. for more than a decade. Companies within the manufacturing sector employ almost one million people and account for 8.7% of GDP.

The manufacturing sector is now the second largest export contributor (after mining). Manufacturing accounted for 40% of total exports during 2009-10, demonstrating its importance in the domestic economy¹.

Despite this rapid growth, the manufacturing sector faces constant pressure from…

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