Turnaround Expert, Seeing the Big Picture

August 18, 2020

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

Reference:

Harvard Business Review: Staple Yourself to an Order by Benson P. Shapiro, V. Kasturi Rangan, and John Sviokla

Connect with Paul Fioravanti:

Website: QadentManagement.com & Qorval.com

LinkedIn: Paul Fioravanti

Connect with Byron Walker:

Website: TheTurnaroundPlan.com

Email: Byron@SurvivalFrog.com

LinkedIn: Byron Walker

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