In my review of
11 Keys To Successful Business Turnarounds
by Trevi Lim posted on Amazon.co.uk, I gave it Two Stars.
Here is my review.
Confusing and poorly structured
The book makes a huge claim for itself. It claims to be “the most powerful e-book on the net for rescuing your business from financial disaster. ”
Nonsense.
Confusingly it then goes on to say..
“There are 11 keys that you need but in this book, I will only be focusing on key number 1. The other 10 are just as important but I will only touch on it briefly.” The extra information is said to be available from the author’s website but I haven’t bothered to check.
Not only is the English poor, the book doesn’t even pretend to live up to such an extravagant claim.
The big point it is trying to emphasise is to start by knowing where you are. Although the book doesn’t say it, this is a big problem with small businesses because they have inadequate accounting reports and supporting key performance indicators. I remember a pilot SME rescue scheme, some years ago, having to be abandoned in the West Midlands because too many businesses that applied, couldn’t provide the turnaround professionals with enough information to assess the viability of a turnaround option.
The book needs editing and the kindle formatting is poor.
As for the 11 keys, I don’t have an issue with number 2, warning signs to look out for or number 3, understanding the business mistakes which led to to poor performance. After that they disintegrate into ideas for success rather than turnaround.
There’s a big difference.
Principles and traits of success are useful if you’re starting from zero but if you’re already in a mess, you need to know how to fix it. Success principles for driving are to check your fuel levels and your tyre pressures before you set off on a long journey. Knowing what you should have done isn’t much use when you’re stuck in the middle of nowhere with a flat tyre and your car has been running on petrol fumes for the last couple of miles. When you have a problem, you need to know how to solve that particular problem.
If your business is struggling, you need much better than this and you need it quickly because the difference between a challenging yet viable turnaround or inevitable insolvency may only be a few weeks. There is a point of no return.
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