Startup Funding Espresso – Stages of a Turnaround Process

Stages of a Turnaround Process

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

There are several stages in a business turnaround.

Consider these phases for your startup:

Assessment:

This phase determines the crises and the impact on the business.

This can include both internal and external factors

Triage:

This phase sorts through the potential strategies to recover the business.

This can include reorganizing the company through filing bankruptcy.

Stabilize:

This phase sees actions to reduce losses and moves the business to a stable condition.

This involves reducing the employee count, selling assets, and reducing expenses.

Turnaround:

This phase establishes a plan for recovering the business so it’s profitable.

This involves reducing expenses dramatically and focusing all resources on increasing revenue.

Growth:

This phase establishes a new plan for growing the business.

This typically involves refocusing on the core business and reducing the number of non-core growth initiatives.

Consider these phases in your startup turnaround.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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