|
Article Directory
|
+ Authors
+ Articles
|
|
|
|
Business Turnaround: Locate and Isolate the Root Causes of Your Company's Problems
Copyright (c) 2010-2012 Thayne Carper
When seeking business turnaround, one of the first things you need to do is to determine the root causes of your economic woes. Your company may have financial problems for a plethora of reasons, which your business turnaround plan will have to consider.
Sales may be down because a new competitor has entered the market or there is an economic downturn that is preventing your customers from being able to afford your goods. Research may show that your company has too much inventory - perhaps you made some unwise decisions and increased your costs far more than your profits would allow. Maybe your profit margins have declined whereas your fixed costs remain stable. There are an endless number of reasons why your company has financial problems, and you must discover the root cause or else there will be no significant business turnaround.
The Value of Comparative Analysis
To discover the root cause of your company's problems, you should first try to isolate the cause or causes by a comparative financial analysis, which is often important for business turnarounds. With such an analysis, you will be able to compare other companies to yours.
In seeking a business turnaround, a good owner will look at websites such as http://www.bizstats.com and look at how other companies, including competitors, are doing. Sites like this allow the users to easily navigate through a great deal of relevant information about similar companies, so that a business owner can see which companies are doing well and which are not. If other companies in your industry are doing poorly, then the issue may have something to do with your industry itself. In that case, you will have to figure out how to bypass the issue and differentiate yourself from your competition so that your company can stand out.
Consider Outside Help
It is also possible that the comparative financial analysis will show your company is doing poorly compared to others, and thus the problems are specific to your firm. As a company owner seeking a positive business turnaround, you must then look to your own company and conduct your own investigation as to what the problem is. You may want to consider hiring outside consultants or other groups to help establish the root cause of your firm's problems.
Such organizations exist for this very reason - they want to ensure that companies such as yours are working in optimal conditions and as efficiently as possible. Business turnarounds often result from outside help, as these third parties can investigate your firm, its staff, your products, and uncover the reason for your financial troubles.
Get Personally Involved
Finally, a good business turnaround plan depends on a proactive and intelligent owner. You cannot only depend on comparative financial analyses and outside consultants - you must take matters into your own hands and investigate the problem yourself. Proactively research other businesses, investigate your own employees, monitor and analyze financial reports, and determine why the market is not responding to your product.
While a company owner understandably has to allocate certain tasks to his employees or other parties, this is a situation where you also have to be more involved in your company than before, at least until the root causes of your issues are uncovered.
|
Thayne Carper spent 4 years of college competing in student business plan competitions. He's never won a business plan competition and was dropped from his college's entrepreneurial program for lacking potential. Today, he is one of the youngest published experts on the topic of business turnarounds and cost reduction. Visit his website lower supply costs up to 30% for a copy of his report "The Definitive Guide to Doubling Your Profits in less than 6 Months" and learn how you can easily lower supply and service costs up to 30% without hiring a consultant. Learn more: http://www.ThayneCarper.com/
|
Follow "The Phantom Writers" on Twitter
(@phantomwriters)
to be notified when new articles are made available.
VOTE ON THIS ARTICLE
Needs Work >>
0 -
1 -
2 -
3 -
4 -
5
<< Excellent Article
Tell our authors what you think about their article.
|
Top-Level Category: Business Offline Articles || Related Categories: Business Online Articles
10 Most Recent Articles Written by Thayne Carper
Maximizing Profits by Lowering Health Care Costs in an Obamacare Society
Written by: Thayne Carper |
Distributed: 2010-07-27 |
Word Count: 920 |
Page Views: 911
Health care costs are a growing concern amongst small and
large business owners throughout America. The cost of
medicine in the United States is out of control. Because of
the rising health care costs, employers are forced to reduce
bonuses, reduce spending, and sometimes layoff employees,
which increases stress.
Increasing ROI by Improving Business Sustainability in a Cash-Strapped Economy
Written by: Thayne Carper |
Distributed: 2010-04-20 |
Word Count: 908 |
Page Views: 825
During times of economic uncertainty and staggering consumer
confidence levels, companies seek alternative measures to
increase business sustainability. Businesses incur
additional costs to cover operational expenses; however,
companies unintentionally waste their revenue on excess
supplies and inefficient policies.
Cost Reduction: Cutbacks Are Unavoidable
Written by: Thayne Carper |
Distributed: 2010-03-15 |
Word Count: 497 |
Page Views: 1289
| Votes: 3 |
Rating: 1.00
Good cost reduction means you must slash your expenses and
costs when possible, provided that this does not affect your
product quality or harm your operations. There are numerous
approaches to cutting expenses, and you cost reduction plan
must identify where you can save money.
Business Turnaround: Stabilize Your Environment with Positive Cash Management
Written by: Thayne Carper |
Distributed: 2010-03-10 |
Word Count: 531 |
Page Views: 1260
A good business turnaround requires you to stabilize your
environment; without this step, your business will likely
remain unprofitable. Maintaining both a positive cash
balance and abiding by a smart budget is vital.
Business Turnaround: Reorganize Your Company and Focus on Its Profitable Areas
Written by: Thayne Carper |
Distributed: 2010-02-25 |
Word Count: 539 |
Page Views: 987
After you have determined the root cause of your company's
problems, you must now reorganize to make your company
profitable. All companies have strengths and weaknesses, and
it would be wise to recognize which areas are assets to you
and which need improvement.
Cost Reduction for Business: How to Best Manage Your Costs
Written by: Thayne Carper |
Distributed: 2010-02-23 |
Word Count: 506 |
Page Views: 1482
| Votes: 3 |
Rating: 2.33
Companies have to use various forms of financial studies -
estimates, budgets, forecasts, analyses, and evaluations -
to report and control their costs.
Business Turnaround: An Overview of How to Best Enhance Your Company's Finances
Written by: Thayne Carper |
Distributed: 2010-02-18 |
Word Count: 539 |
Page Views: 672
A successful business turnaround requires the owner to take
certain steps to become a profitable enterprise. By taking
the following actions, you can reorganize your company and
produce positive cash flow.
All of Author's Articles on this site: Thayne Carper Articles
Most Recent "Business Offline" Articles
How To Build a Strong and Powerful Business During a Recession
Written by: Trey McMartin |
Distributed: 2011-11-10 |
Word Count: 987 |
Page Views: 462
During a recession, most business owners pull the reins on
advertising budgets, fearful of what tomorrow might bring...
Those who remain fearful have forgotten what made them the
success they are today... They have forgotten that they have
a God-given talent to overcome the incredible obstacles in
their paths.
SEO Lessons from Local Businesses
Written by: Trey McMartin |
Distributed: 2011-11-09 |
Word Count: 945 |
Page Views: 869
More than once in the six years that I have been providing
SEO services for websites, I have had the opportunity to
discuss with individual business owners their search engine
optimization needs. Now and again, I run across an
individual business owner who is quick to say that SEO is
absolutely worthless. When confronted with such an absolute
statement, I like to press for details. It has been my
experience that people who speak in negative absolutes will
have a horror story to share.
Where Will FDA Target Next? What IVD Manufacturers Should Know Before Their Next FDA Audit
Written by: Norm Howe |
Distributed: 2011-09-12 |
Word Count: 706 |
Page Views: 352
Medical device manufacturers are always interested in knowing
what FDA's next area of focus will be. Well, if you're an In
Vitro Diagnostic manufacturer you might review your measurement
systems.
Online Fax - 10 Reasons To Get An Online Fax Service
Written by: Titus Hoskins |
Distributed: 2011-09-12 |
Word Count: 560 |
Page Views: 365
Online faxing is the new more modern way to fax. If you or your
company is not using an online fax service, here are 10 good
reasons why you should get it.
Best Effort Essential for the Job Interview
Written by: Barbara Wulf MS, ACC, CPCC |
Distributed: 2011-07-30 |
Word Count: 676 |
Page Views: 445
Interviewing will determine if you are the right person for the
job. These tips will help you make the job interview a success.
Go Green With Your Career Search
Written by: Barbara Wulf MS, ACC, CPCC |
Distributed: 2011-07-28 |
Word Count: 636 |
Page Views: 361
Many of the qualities of green living, like recycling and
sustainability, can apply to a career search, even if the
career is not directly associated with green industries.
ReCareer in the Second-half of Life
Written by: Barbara Wulf MS, ACC, CPCC |
Distributed: 2011-07-26 |
Word Count: 525 |
Page Views: 423
| Votes: 1 |
Rating: 3.00
Many of us worked the first half of our life to "fit" the
job description. ReCareering is about finding the right fit,
being selective, being creative, being fulfilled and being
intentional about how you spend your time.
Up in the Air
Written by: Barbara Wulf MS, ACC, CPCC |
Distributed: 2011-07-24 |
Word Count: 678 |
Page Views: 426
When looking for work or changing careers, go beyond researching
on the internet and reading articles. Find out how you can learn
from the art of listening and having a conversation.
Salon and Spa Owners: Which Monk Are You?
Written by: Dan Lok |
Distributed: 2011-07-05 |
Word Count: 477 |
Page Views: 462
Too many salon and spa owners are carrying around a lot
hurts, regrets, guilt, past failures and fears about the
future. But no one is forcing you to carry these emotional
rocks, so put that sack down!
The Single Most Profitable Day You Spend on Your Spa or Salon!
Written by: Dan Lok |
Distributed: 2011-06-30 |
Word Count: 470 |
Page Views: 566
Salon and spa owners need to combine their marketing plan
with marketing systems. A marketing calendar plans out
strategies for a year, and is instrumental to the success of
your spa or salon.
Most Viewed "Business Offline" Articles
How To Write A 300 Page Book In Four Months
Written by: Mark Silver |
Distributed: 2008-07-15 |
Word Count: 821 |
Page Views: 36738
| Votes: 6 |
Rating: 1.83
There's a lot of hoopla about becoming an author of your very
own business book. The promise of fame and fortune is very
alluring. Yet your book remains perpetually 'about to be'
written. Meanwhile your business has ground to a halt. Hmmm...
might there be a better way to get a book written?
The Best Marketing Book I've Ever Read (You'll Be Surprised)
Written by: Judy Murdoch |
Distributed: 2007-05-09 |
Word Count: 1522 |
Page Views: 33877
| Votes: 15 |
Rating: 3.60
From time to time someone asks me to recommend marketing books.
Here's one of my favorite marketing books that always surprises
people. Curious? Read on.
The Bizarre History Of The HOLLYWOOD Sign
Written by: Morris Timlen |
Distributed: 2008-11-05 |
Word Count: 1211 |
Page Views: 28586
| Votes: 22 |
Rating: 3.32
The most famous sign in the history of mankind is the one that
graces the side of the hill above Hollywood, California. As
famous a landmark as the Christ the Redeemer statue in Rio De
Janeiro, the Eiffel Tower in Paris France, the Great Pyramid of
Giza in Egypt, The Church of the Savior on Blood in Saint
Petersburg Russia, and the Statue Of Liberty in New York City,
the Hollywood sign is known around the world as the symbol of the
American movie industry.
What Does It Take To Be A Successful Salesman?
Written by: Casey Moher |
Distributed: 2008-08-05 |
Word Count: 930 |
Page Views: 16079
| Votes: 68 |
Rating: 3.16
In the course of my average workweek, I meet people who tell me
that they have no sales experience, and very literally, many
will tell me that they could not sell if their lives depended on
it. Do you fit into this mold? Do you seriously believe that you
can sell me on the idea that you cannot sell things?
Selecting Between a 401(k) And 403(b) For a Nonprofit
Written by: Daniel Lamaute |
Distributed: 2007-10-11 |
Word Count: 333 |
Page Views: 6836
| Votes: 17 |
Rating: 2.65
Newly released IRS regulations impose several new requirements
and fiduciary responsibilities on employers with 403(b) plans.
While the regulations generally don't take effect until January
1, 2009, there are some provisions that apply sooner.
Pitch A No-Hitter With Baseball-Themed Flower Gifts
Written by: Wesley Berry, AAF |
Distributed: 2007-12-25 |
Word Count: 413 |
Page Views: 6112
| Votes: 16 |
Rating: 1.94
Want to send a gift to the baseball fan in your life that's sure
to knock one out of the park? Send flowers with a baseball
theme! Everyone loves flowers and when you personalize them to
include the recipient's favorite hobbies, like baseball,
they're sure to make an even greater impression.
Never Write A 'Thank You' Letter Again
Written by: Perry Maisin |
Distributed: 2008-08-12 |
Word Count: 971 |
Page Views: 5866
| Votes: 17 |
Rating: 2.29
When I was in graduate school, I had a friend who interviewed at
fortune 500 companies and succeeded at landing a great job. One
day, I saw him sitting in the student union with a stack of
cards. The cards said 'thank you'. He opened each card and
signed his name. The inside of the card was blank. I asked him
what he was doing and he told me that it was important to send a
'thank you' to every person you interviewed with. He believed
that that was the difference between getting the job and being
passed over.
Conducting Effective Career Aspiration Discussions with Employees
Written by: Andria L. Corso |
Distributed: 2010-03-10 |
Word Count: 690 |
Page Views: 5330
| Votes: 8 |
Rating: 1.88
Enhance your talent management and development programs
through conducting career aspiration discussions with your
employees. Find out where they want to grow their career to
determine if it matches your business needs. This will
enable you to differentiate your employee development to
grow the future leaders of your company.
The Pros And Cons Of Postcard Marketing-direct marketing offline
Written by: Cheryl Miller |
Distributed: 2006-11-29 |
Word Count: 675 |
Page Views: 3998
| Votes: 5 |
Rating: 2.60
Postcard marketing is one of the oldest methods of marketing. Its
concept is simple but can be quite effective. It is just sending
out your message to your mailing list on a postcard. Postcard
marketing is a powerful and cost effective way to advertise and
will keep building in momentum when done correctly.
The Tea Room Business Plan – First Steps And Start Up Basics
Written by: Marcus Stout |
Distributed: 2007-03-22 |
Word Count: 1218 |
Page Views: 3703
| Votes: 19 |
Rating: 2.63
Every venture starts with the first steps and a business plan for
a quality tea room is no exception. Well thought out first steps,
properly implemented, will pay dividends in the business
operations of the tea room in later years.
Highest Ranked "Business Offline" Articles
Why Businesses Need Receivable Factoring In Cash Flow Management
Written by: Toby Seibert |
Distributed: 2007-08-08 |
Word Count: 866 |
Page Views: 1886
| Votes: 5 |
Rating: 4.60
In today's business environment, many businesses need to
fine-tune the process of getting paid on invoices, in order to
improve their cash on hand. Improving cash flow can be an ongoing
challenge for businesses of all sizes, and it is an issue that
must be addressed to ensure the long-term viability of the
business.
Whose Restaurant Can You Find Online?
Written by: Rudy Vener |
Distributed: 2007-07-09 |
Word Count: 640 |
Page Views: 1550
| Votes: 5 |
Rating: 4.40
What is so significant about Pizza Hut's latest TV commercial?
Business School for Non-Business Minds: Got a NAICS Number?
Written by: Melissa Mashtonio |
Distributed: 2008-04-15 |
Word Count: 423 |
Page Views: 1636
| Votes: 5 |
Rating: 4.40
I’m a journalist. I spent a lot of my career in the news
business. As my career has progressed, I’ve spent time at small
and large companies, and I have sat through dozens of business
meetings wondering what the heck the “money” people are talking
about. They used acronyms as if they were a foreign language.
The Problem With Swiping Sales Copy
Written by: Scott Bywater |
Distributed: 2009-12-03 |
Word Count: 480 |
Page Views: 1061
| Votes: 5 |
Rating: 4.40
This is what people miss when they try to simply "swipe"
sales copy from another advertisement.
Equal Opportunity Pizza Ordering
Written by: Rudy Vener |
Distributed: 2007-10-19 |
Word Count: 629 |
Page Views: 1545
| Votes: 8 |
Rating: 4.38
With online ordering, your menu and restaurant suddenly become
accessible to both the deaf and blind customers in your
community.
The Secret To Making Successful Business Connections
Written by: Kate Smalley |
Distributed: 2006-10-11 |
Word Count: 672 |
Page Views: 1660
| Votes: 6 |
Rating: 4.00
If you have a hard time making successful business connections,
don't despair. Anyone can be good at meeting people-if they use
the right technique. The whole secret to making a positive
connection is knowing how to attract people and inspire them to
want to give you a chance.
How to Build a Really Great Business? (Super Success Secrets from a Legendary Business Master)
Written by: Chet Holmes |
Distributed: 2007-01-15 |
Word Count: 1523 |
Page Views: 1646
| Votes: 7 |
Rating: 4.00
Times are tough. The economy is in a constant state of upheaval.
Is your company doing better than most? Are you placing greater
emphasis on pure performance?
Get the Balance Right
Written by: Rich Thawley |
Distributed: 2009-01-28 |
Word Count: 638 |
Page Views: 1499
| Votes: 11 |
Rating: 3.91
Do you build your business around your family or your family
around your business? The choice is yours.
Online Copywriting Makes Content as the King
Written by: Steven Gerber |
Distributed: 2006-12-11 |
Word Count: 560 |
Page Views: 1671
| Votes: 7 |
Rating: 3.86
The inverted pyramid is basically the placing of 4 W's in the
primary sentences of the articles, supported by the other W and H
on the following discussions. Four W's consist of what, when,
where, and who. The other W which stands for why on the other
hand, follows on the succeeding paragraphs, including the
elaboration for the H which also stands for how, if necessary.
Interview Coaching: A Home-Based Business on the Cutting Edge
Written by: Carole Martin |
Distributed: 2007-08-24 |
Word Count: 1400 |
Page Views: 1412
| Votes: 7 |
Rating: 3.86
You name it - Blackberry, Skype Connection, Cell Phone, iPhone -
these are the tools of this trade. Who would believe that someone
with a home-based business could reach out to someone in a far
away country and work with a client via a Blackberry and a cell
phone?
|
|
|
Article Reprint Rights
|

This work is licensed under a
Creative Commons License
You are not required to show the creative commons license notice when you reprint this work.
|
|
Article Statistics
|
Word Count: 529
Total Views: 894
Views This Month: 23
Views Last Month: 34
Article Rating: 3.50 of 5
Votes Cast: 2
Author Overall Stats:
Times Viewed Overall: 8323
Author Rating: 2.13 of 5
Votes Cast Overall: 8
More Articles By Author:
Articles On This Website
Article Title Search:
Widow Search
Right Blinker
Google
Yahoo!
Zuula
Bing
Cuil
Last Distribution Date:
2010-04-13 12:00:00
|
|
|