When your company needs a turnaround strategy, it’s because things aren’t going to plan. Your executives may not be able to take their full salary to keep costs down or you may find yourself struggling to pay your bills. Perhaps your original strategy has been left on the drawing board as you try to keep your business afloat.
A turnaround strategy is something that thousands of businesses have successfully implemented. This strategy focuses on reversing the decline of your business to create a positive direction of travel. It’s not a simple strategy of cutting costs or reducing your overheads.
For your turnaround strategy to work, it can often mean overhauling your entire business. The reality is that most turnaround strategies don’t work. The number one reason why they fail is that they’re created by the people who caused the business to decline in the first place.
Hiring a CFO or a senior financial professional gives you the benefit of a fresh perspective. If your turnaround strategy is going wrong, it’s time to call in outside help. At FD Capital, we’re a boutique financial recruitment agency that connects businesses with financial professionals who have the skills and experience to implement a successful turnaround strategy.