In this episode, Byron and Paul discuss:

The three major buckets to consider during a turnaround.
Doing a white-sheet exercise for your company.
Analyzing your customer relationships.
Having a bias towards action – time is not your friend.

Key Takeaways:

You can never have net income without gross margin.
Check your overtime – could that work be done during regular hours and is not due to inefficiencies?
The greatest opportunity is often by focusing on those key customer relationships.
You have to get the people element right or you will likely lead your company to failure. People are invaluable and the key.

“The last thing I want to do be is a vendor; I always want to be a business partner. I don’t want to be a vendor because I don’t want to be in that commoditized, price-driven space ever. ” — Paul Fioravanti