A high risk of failure is part of any startup’s DNA and data is here to support it: only 10% of startups worldwide make it all the way through stability and success. In turn, entrepreneurs dream about building a successful company from scratch. But how many of them can turn around a struggling business?

Most of the times, distress is caused by an idle management that has failed to develop alternative strategies for slow growth scenarios. This is the moment of a company’s lifecycle in which things other than revenue growth become important. The moment when we understand that best business models and technological inventions are based on a unique mindset – not skills.
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You may ask yourself what is a turnaround mostly made of? Below are some ideas that will help you get to the best part of its turnaround and consolidation: the unbelievable feeling of fulfilment.
  • always evaluate the project baseline trough strong analytics, in order to predict the most likely cost, schedule outcomes and viable solutions;
  • assess the health of the project organization, great teams can fix most problems;
  • repair the brand, change the business model and create a new and inspiring culture;
  • quickly stabilize operations: implement a longer-term financial and operational transformation that repairs credibility with key stakeholders and maximizes sustainable value creation;
  • supply chain improvement to be more agile, robust, efficient and better equipped to meet future challenges;
  • craft a strategy to determine how the company could win in the marketplace and generate the confidence needed for implementing its plans;
Finally, keep in mind that in today’s digital economy, exceptional customer service is more important than ever before, while value is continuously created through networks of connected people. They form with or without a company’s involvement, primarily through social channels and digital media, where most of the contact between brand and customer is migrating. So, this is the perfect time to focus on how they’re seeing and interacting with your company.
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