Tips to Bring in a Turnaround Consultant
When a business faces challenges, owners tend to focus solely on increasing revenue. While the revenue side of the business is crucial, optimizing expenses can yield more immediate results. If unsure how to realign from current revenue, consider engaging a turnaround consultant. And rather than just looking at what that’s going to cost, it’s important to look at what the results will do for the business. Engaging a turnaround consultant shows commitment to the future of the business. It’s a strategic investment that will get the business back on track.
When selecting a consultant, look for someone with a proven track record in your industry. Get recommendations from trusted sources and check references. You want a consultant who offers a strategic plan tailored to your specific challenges.
A skilled consultant will assess your financials, optimize operations and design a sustainable growth strategy addressing both immediate issues and long-term success. Implementing their recommendations may require strategic pricing adjustments and operational refinement more so than focusing exclusively on new business. This holistic approach will position your business for long-term success. By tackling both revenue and expenses simultaneously, you’ll pave the way for a thriving future.
About Celtic Capital
Companies looking for working capital to cover operating expenses, fund growth, increase buying power and take advantage of vendor discounts and rebates turn to Celtic Capital. With an appetite for the more complex transactions, Celtic Capital has a history of success in crafting creative, flexible asset based financing solutions from $500,000 to $5 million with no financial covenants.
As an independent lender, working with companies nationwide, Celtic Capital is willing and able to alter price and deal structure and expand lines of credit to handle its clients’ increased revenues; and when cash flow is an issue, will look toward providing an inventory facility to help offset lost cash flow.
If you know of, or are, a business in need of non-traditional financing, contact Mark Hafner at 800.742.0733 or mhafner@celticcapital.com, or visit us at www.celticcapital.com.