Articles & Book Reviews About Business Turnaround

The full title of this book by Henry Moore is

“Business Turnaround: How to do it: A guide for advisers and managers“.

When I reviewed it on Amazon.co.uk, I gave it a Four Stars rating, which means I consider it to be in the good to very good range.

Here is my review.

A good summary of how to professionally manage a business turnaround

The author originally wrote this book as a training resource for new employees in his turnaround management business. The guide was then used for other professional turnaround projects and finally, was published more widely. [continue reading…]

The full title of this book by David Borgenicht & Mark Joyner is

The Worst-case Scenario Business Survival Guide: How To Survive The Recession, Handle Layoffs, Raise Emergency Cash, Thwart An Employee Coup and Avoid Other Potential Disasters!

In my review posted on Amazon.co.uk, I gave the book Three Stars. This means Worthwhile.

Here is my review.

A helpful guide for any business owner with a business in trouble

David Borgenicht has written a series of Worst Case books and, in the introduction to this one, admits that the others are written more for entertainment than practice. This book is different and is intended as a serious guide for a business owner with a business in trouble.

It is split into five main sections:
Financial emergencies
HR emergencies
Productivity emergencies
Sales and marketing emergencies
Executive emergencies

In each section, the two author have asked various business experts on their tips before writing what they call Basic Training. These are practical but sometimes easier to say than do. At the back of the book are suggested”what to say guides” for various situations.

I have a few concerns.

First, a company in trouble needs to be aware of its legal obligations. There are different levels of trouble but, if insolvency is threatened, you must know where you are. There are serious penalties for trading beyond the point of no return. If you need to reduce your employees, it must be done in the right way.

What you do to get out of trouble depends on what caused the problems. The book is tactical, looking at how to reduce the impact of the symptoms rather than strategic, which involves looking at and fixing the underlying problems.

The book also ignores financial control. You need to understand what it will take to get you back above the break even level and you need to be forecasting your cash flow, probably for at least 3 months to make sure you’re not digging a deeper hole in a few weeks time.

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The full title of this book by Mac Attram is

“Face It & Fix It: How to Avoid Disaster and Turn Around Your Small Business“.

In my review at Amazon.co.uk, I gave the book a rating of Four Stars. This means that I consider it to be good.

Here is my book review.

A practical book that looks at the causes of business failure

This is a good, practical, wide – ranging book that looks at 43 different causes of business failure.

It then tells a few stories where businesses found themselves in trouble and through effective action, turned themselves around. [continue reading…]

In my review of

Turnaround Guidelines for Businesses in Decline or Distress by Hendrik S. Palm

on Amazon.co.uk, I rated the book at the Four Stars level. This means I consider it to be good.

Here is my book review.

This is a short guide on the turnaround process

This is a short guide on the turnaround process including:

• how businesses get in trouble,
• establishing whether the business can be turned around in the time available,
• diagnosing potential interventions using the value chain, capacity constraints and the 7-S model implementing the necessary actions including strategic repositioning,
• generating cash, selling assets, improving cash management and reducing costs.

[continue reading…]

The full title of the book by Darren Stephens & Spike Humer is

The 10 Day Turnaround: How to Transform Your Business Virtually Overnight

In my review posted on Amazon.co.uk, I gave it 3 Stars.

Here is my review.

Not as good as I’d hoped

I have a lot of respect for one of the authors, Spike Humer although I don’t know Darren Stephens. I expected this book to be excellent but I was left disappointed.

My interest is professional because I enjoy helping business owners whose businesses aren’t performing as well as they’d like and I thought I’d pick up some new ideas and tips. Inevitably it’s hard not to think that because it’s different from the way I work, that the book is wrong and I’m right. [continue reading…]

The full title of this book by KE Hall is

Kick This Recession In The Butt, Turnaround Your Small Business Today

In my review posted on Amazon.co.uk, I gave it One Star.

Here is my review.

Don’t waste your time

This is more of a pamphlet than a book on business turnaround as it is incredibly skimpy.

There are two purposes for its publication: [continue reading…]

Right from the start of my career, I’ve been fascinated by the idea of helping turn around businesses in trouble. When I was being interviewed as a trainee accountant in 1981, I expressed interest in the firms’ business recovery departments.

My career as an employee had its share of highs and lows. I was seconded to a start-up company in a group and had the true “cradle-to-grave” experience as I eventually closed it and sold off the assets. I was also the Finance Director of a business that found itself caught in a savage price war and I’ve never seen profit drain away from a business so quickly.

When I had to write a dissertation for my MBA, it seemed obvious to choose a topic that looked at how small businesses in financial difficulty might be rescued before collapse. It involved extensive research into the causes of failure and how businesses can achieve turnaround and I really threw myself into it. So much so that I had to ask for a six month extension. When finished, the dissertation was received a Grade A Distinction, which meant it qualified to be permanently bound and placed into the Manchester Business School library.

I’m telling you this because one of the interesting things thrown up by my research was the issue of causal attribution and how business managers and owners deceived themselves, at the risk of the future survival of the business.

Let’s have a look at what I discovered. [continue reading…]

The full title of this book by Mark Blayney is

“Turning a Business Around: How to Spot the Warning Signs and Ensure a Business Stays Healthy“.

In my review posted on Amazon.co.uk , I gave this book Five Stars. This means I think it is Excellent and it is Very Highly Recommended.

Here is my book review.

An easy to read guide for owners/managers of businesses in trouble

This is a very good book if you ever find yourself in the scary and stressful situation of owning or managing a business in financial distress or you fear that the business is heading that way.

In the preface Mark Blayney sets two main purposes for the book:

1. To act as a fire extinguisher for a business already in a crisis.
2. To act as a smoke detector to help identify the early warning signs while there is time to correct the problems. [continue reading…]

The full title of this book by Jeremy Kourdi is

Surviving a Downturn: Building a Successful Business.without Breaking the Bank

In my review posted on Amazon.co.uk, I gave it Three Stars.

Here is my review.

Sensible advice

This book focuses on helping a company to recover from a downturn in its fortunes rather than surviving a downturn in the economy. There is a subtle difference and I think of it more as a turnaround book. [continue reading…]