To the blog for small and medium sized business (SME) owners.

Thursday, October 11, 2007

7 Symptoms of a Business Turnaround

Business Turnaround - DAW Consulting, Kingswinford, West Midlands, UK
Why should there be need for a business turnaround?

Unfortunately, business turnaround happens when the financial expectations of the business fail to materialize, a situation that may result from:
- Failure to regularly review the financial performance and to take corrective action if required
- Poor internal business controls
- Fraud
- Major errors of judgement
- Events outside of the control of the business owner.

A regular review of the business should identify the causes that give rise to areas of weakness or poor performance. The 7 symptoms that often result in a business turnaround are:
1. Cash flow difficulties
2. No business growth, declining markets
3. Expansion of the business has been too rapid resulting in a lack of working capital
4. Quality of the product or service fails to meet the customer expectations
5. The business lacks strategy, no long term goals and exists from day to day
6. Low staff morale resulting in high staff turnover
7. Lack of specialist skills

If your business needs help to avoid a business turnaround then seek expert help quickly.

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