The full title of this book by Marc Kramer is
Streetwise Small Business Turnaround: Revitalise Your Struggling or Stagnant Enterprise
In my review of the book posted on Amazon.co.uk, I gave the book Two Stars, which means Disappointing.
Here is my book review.
Not nearly as helpful as I’d hoped
I had high hopes for this book but it turned out to be a major disappointment.
Let’s put to one side the fact that it’s written for the American market so some of the contents is wrong as far as UK businesses are concerned and that it is old. Much of what’s involved with turning around a business hasn’t changed over the years.
This book provides little guidance on how to analyse what’s gone wrong with a business to need a turnaround or the options open to someone who wants to revitalise a business.
For some strange reason, it wants to be a book about business planning so it gives advice on how to write a business plan, then a few chapters later a sales and marketing plan and a bit later, an operations plan.
It has nothing about getting on top of cash flow issues or understanding which bits of a business may be profitable and which may be dragging it down. Its advice on cost cutting is superficial. It doesn’t provide many ideas for how to increase revenue and margins.
I’m sorry but this is very disappointing. It’s not a complete waste of time. If you’re turning around a business, you need a business plan and if you need the support of external finance, that plan needs to be in a traditional form to “sell the idea” of financing the business.
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