Business Turnaround Educational Materials
For a business turnaround, we recommend 2 publications highly. From our experience, these publications are the most effective for educating an executive or entrepreneur in business turnaround procedures.
If your company is in trouble, our recommendations will show you how to turnaround your firm in a short amount of time. You should invest in both publications if you are serious about fixing your financially troubled company
Our first recommendation is Principles of Corporate Renewal by Harlan D. Platt. Professor Platt teaches at Northeastern University in Boston. Principles of Corporate Renewal is a theoretical text. It is not a “how to” book, but it does a good job explaining business turnaround ideas. This book is especially good if you lead a large firm (Fortune 500 size) that needs business turnaround.
Our other recommendation is The Insider Secrets to Saving Your Business: The Step-by-Step Turnaround Guide by our colleague Kevin D. Muir. This practical reference gives you a logical approach to a business turnaround. In Insider Secrets, you will find easy to follow lists that show the steps for fixing your company.
In this restructuring handbook, you will learn how to:
- Find extra cash and financing.
- Develop a profitable business strategy
- Get support for your new strategy from your board, banker, management team and employees.
- Motivate and keep your best employees through the restructuring
- Restructure your secured and unsecured debt
- Deal with the IRS and get tax relief for your struggling firm
- Sell your nonstrategic assets for top dollar.
This is a helpful guide especially if you cannot afford a restructuring consultant. In fact, buying both the Insiders Secrets Guide and the Principles of Corporate Renewal can save you thousands of dollars in consultant fees.
To learn more, see business turnaround manual.
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