Turnarounds...

Obviously, there is no standard solution in resolving the complex issues surrounding turnaround companies. Key considerations include how sick the company is, management team, the strength of the balance sheet,whether the company has any fundamental strategic advantages, how the industry is doing, and so forth.

The first step to success is developing a strategic roadmap. Turnarounds require strategic visions not a consistent tactical "fire fighting" approach.

Prioritizing is vital to ensure that you are focused and that you are matching your resources to the tasks, rather than just jumping around putting out fires. This requires an experienced executive who has successfully faced this challenging environment on numerous occasions. Turnaround executives require a different skill set and urgency of time.

Examples of my experiences include:

• Key player in reversing a $300 million spiraling Company to a stable environment by reengineering the processes, financing and systems. Able to sell this entity within 2 years.

• Generated a savings of $38 million by successfully consolidating IT teams, processes, infrastructure, and systems.

• Tripled the number of customers within 18 months from a CRM / Client Service strategy.

• In one year, as interim COO / CFO for a technology company, reduced debt by 25% and increased equity by 16%.

• In 32 days, decreased Costs of Goods Sold by 2.25%, while increasing sales 6.3% for the same period.