Turnaround planning

Prior to the go/no-go decision, its prudent to acknowledge that the target company will require some ‘turning around’.  – define that as you will.

Of course, the unique particulars of the target business will govern the approach – but in general, the activity needs to be disciplined: number focused, and people-flavoured.  The turned-around business either stands on its own, or it doesn’t (keeping personalities out it at this early stage can be most helpful).

Tactically, the approach will follow the 4 step process in the worksheet below – use this tool for scenario planning now, to avoid making a decision you’ll regret later.

The process involves:

  1. getting clarity on your current situation (step 1),
  2. defining the to-be business (step 2),
  3. reflecting-on, and prioritizing the key activities to be achieved (step 3),
  4. and assessing the do-ability of turning around performance in the key dimensions identified (step 4).