A Business Turnaround (Turnaround) is a process of restructuring a company that is not operating as desired. Many entrepreneurs believe that only loss-making businesses opt to go for a turnaround process. Contrary to popular belief, even profitable businesses have undergone a turnaround process.

Any company can implement a turnaround process, whether it is profitable or not. This process can help if you wish to grow the business’ turnover, reduce its expenditure or increase its net profit. The process is implemented when an entity wishes to move from its current situation to an improved situation. The definition of what this better situation is depends on the goals you have set. It is critical that you define these goals before deciding on the required turnaround approach.

A goal of the turnaround process can be anything from wanting a bigger market share through increased turnover or a cost advantage through being a lean enterprise or being the biggest competitor in a niche market. At the end of the day, the goal is up to you, the entrepreneur. Whatever it is, a turnaround approach can assist you to achieve this goal.

A Business Turnaround must never be seen as a negative process. It is quite the opposite. The goal of the Turnaround process can be anything from wanting a bigger market share through increased turnover or a cost advantage through being a lean enterprise or being the biggest competitor in a niche market. At the end of the day, the goal is up to you, the entrepreneur. Whatever it is, a business turnaround approach can assist you to achieve this goal.



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