03 December 2008
01 December 2008
“Corporate Firefighters”
Corporate turnaround management specialists come in as an outsider with an independent hand trying to boost company’s performance, managing stakeholders and implementing initiatives to turn the situation around for a long term growth.
Turnaround management specialists can be compared to firefighters as both professions have to act quickly and effectively, always trying to maximise the possibility of a positive outcome in a specific time frame.
If you had difficulty understanding how corporate turnaround specialists work this post should answer the question.
Our Vantage Performance team is looking forward to interacting with you again.
Regards,
Pedro Bueno
Vantage Performance Team
Turnaround Management Specialists
www.vantageperformance.com.au
Never Promise more than What you Can Deliver
One of the lessons learned from rescuing corporations is that managers cannot promise things that are not feasible to be achieved during a crisis management.
If you create expectations and don’t deliver it, stakeholder’s loose faith on your business and become defensive from every move or deal to be done with your company and in times that you need their full support; this misinformation might lead to an early administration.
When times are difficult creditors, employees, financiers appreciate simple things like sincere communication, integrity and honesty.
Our Vantage Performance team is looking forward to interacting with you again.
Regards,
Pedro Bueno
Vantage Performance Team
Turnaround Management Specialists
www.vantageperformance.com.au
Don't Let Fear Cloud Your Vision
Quite often managers complain about recessions and the downsides of it, although as in our lives there are different angles to look at the situation, and good things do emerge after periods of slow economic growth.
For businesses that have strong financial position, they will benefit from opportunities to gain market share, merge or acquire other businesses, pick and hire a best suitable staff and make the business stronger.
On the other hand, businesses that have weak financial position will benefit of having a forced chance to restructure and re-shape the future of the business to a much stronger long term forecast. Managers will be able to make the business lean, sell non-profitable divisions, decrease inventory on hand and cut operational, finance and overhead costs.
During a crisis most of us seem to be paralysed by the fear of failure. Great companies do resurge from downturns and recessions, because managers look at the future and leave the past behind.
Our Vantage Performance team is looking forward to interacting with you again.
Regards,
Pedro Bueno
Vantage Performance Team
Turnaround Management Specialists
www.vantageperformance.com.au
25 November 2008
Does your Business need a Corporate Restructuring Specialist?
Every business has problems, problems might be small, big, frequent or less frequent, but problems are part of a business operation. The bottom line is when things go south, management needs to be prepared for the worst case scenario and act quickly.
The challenge is: you might have never been in a situation where time is an issue, cash is an issue, and creditors literally screaming at you are an issue. When times get tough, there is a need for a specialist to promptly stop the company from bleeding cash, create some visibility and gain creditors confidence back. The interesting point is the specialist is only a consultant and he also needs your help to turn things around as you are probably the person that most knows the company affairs.
In the end of the day, if your business doesn't have the financiers and staff support your company will most likely be heading to liquidation.
Our Vantage Performance team is looking forward to interacting with you again.
Regards,
Pedro Bueno
Vantage Performance Team
Turnaround Management Specialists
www.vantageperformance.com.au
13 November 2008
Protecting Your Business during a Global Economic Slowdown
Not surprising many companies come from a more positive economic phase and enter into a downturn with weak balance sheets, high staff turnover and a lack of risk assessment.
Protective Actions to be considered during a Downturn:
• Good Financial planning
• Start questioning early your credit facilities
• Maintain a meaningful dialogue with your Bank and other major creditors
• Review your Bank charges
• Review all your Direct Debit arrangements
• Tighten up credit control, cash collection, treasury management
• Consider your current and future customers and their ability to pay
• Pay particular attention to investments and major capital expenditure
• For December year ends - be clear about Stock and WIP
• Look critically at staff requirements/recruiting strategy
• Be cautious in awarding pay rise and in setting up staff incentives schemes
• Map your sales trends
• Know your costs
• Prepare detailed monthly accounts, share key information with your Bankers
• Prepare accurate Cashflow projections and update regularly
Our Vantage Performance team is looking forward to interacting with you again.
Regards,
Pedro Bueno
Vantage Performance Team
Turnaround Management Specialists
www.vantageperformance.com.au
06 November 2008
Number of Administrations
October 2008
KordaMentha - 6
McLeod & Partners - 6
SV Partners - 6
PKF - 4
McClaren Knight - 3
Foreman Business Advisors - 2
Hall Chadwick - 2
Pilot Partners - 2
Worrells - 2
Cor Cordis - 2
Insolvency and Turnaround - 1
Ramsay Clout - 1
RE Murphy & Co - 1
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