Services · Turnaround Consulting
Business turnaround consulting for small and mid-sized companies
When cash is tight, profit is elusive, or the bank relationship has deteriorated, we work alongside owners and leadership teams to stabilize the business, build a credible turnaround plan, and help carry it out.
Turnaround consulting
What a turnaround consultant does
A turnaround consultant helps an underperforming or financially stressed company stabilize cash, understand what is driving the decline, and put a realistic recovery plan in place. Cole Advisors doesn’t stop at the plan: we serve as a fractional business partner and help execute it with your team.
Our clients need help because they have been underperforming versus the expectations of the owners, leadership team, bank, investors or customers. They often have experienced leadership teams who struggle due to skill-based gaps or a lack of well defined strategies, solutions and results.
Warning signs
Signs your business may need a turnaround
Business decline rarely happens overnight. If you are experiencing these symptoms, time is your most valuable asset.
- Cash is painfully tight: robbing Peter to pay Paul, missing payroll, or relying 100% on a line of credit
- Banking or investor relationships have deteriorated, or the loan has moved to Special Assets
- The balance sheet is challenged
- Profit is elusive and financial results are trending down
- Revenue lags expectations, or key customers are lost or reduce orders
- Leadership gaps require an interim solution
- Critical projects need extra horsepower
Our approach
How a turnaround engagement works
- Listen and learnWe don’t show up with prefabricated assumptions. Good solutions start with a clear view of the current state of the business.
- Stabilize cash and key relationshipsResolve cash flow shortfalls and work with you on lender, investor, key customer and vendor conversations.
- Build an integrated planWe help connect the dots with a holistic plan: objectives, strategies and action plans that drive financial and operational improvement.
- Execute alongside your teamAs a one-year partner to the ownership team, we work with your staff to carry out the plan, not just hand over a roadmap.
What we do
Turnaround services
- Cash Flow Management
- Operational Restructuring
- Financial Analysis
- Financial Modeling
- Financial Reporting
- Business Process Planning
- Change Management
- Staffing Review and Analysis
- Key Customer and Vendor Negotiations
- Lender/Investor Negotiations
Working with a lender already? See Special Assets and lender negotiations. Healthy but stalled? See profitability and growth consulting.
FAQ
Turnaround consulting questions
What does a turnaround consultant do?
A turnaround consultant helps an underperforming or financially stressed company stabilize cash, understand what is driving the decline, and put a realistic recovery plan in place. At Cole Advisors we also help execute that plan, working with your staff as a fractional business partner.
When should a business bring in a turnaround consultant?
Earlier is better. Business decline rarely happens overnight, and time is your most valuable asset. Common triggers are cash that is painfully tight, a bank or investor relationship that has deteriorated, financial results trending down, or key customers lost.
How long does a turnaround engagement last?
We function as a one-year partner to the ownership team. The right scope depends on the situation, and we will discuss it with you at the start.
Is a turnaround the same as restructuring or bankruptcy?
No. A turnaround focuses on improving cash flow, operations and profitability so the business can recover. Restructuring changes a company’s debt, balance sheet or operations and can be part of a turnaround. Bankruptcy is a formal court process handled by attorneys. When formal resolution or a full exit is the right path, we help owners and lenders select the right partner.
General information only, not legal advice.
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Contact Cole Advisors
Talk through your situation.
Every situation is different, and the conversation is confidential. Tell us what is happening and we will tell you honestly whether we can help.
712 N. Second Street, Suite 301, St. Louis, MO 63102(314) 436-6250