What are turnaround and pivot consulting?

What are turnaround and pivot consulting?

Turnaround consultants typically work with companies facing financial distress, such as declining sales, high debt levels, or poor management practices. The goal of turnaround consulting is to identify the root causes of a company’s problems and implement strategies to address them. The consultant can craft a strategic plan and budget for effective change through careful analysis and working closely with you and other business leaders.

Pivot consulting is a type of consulting service that helps a business change its direction or strategy to adapt to changing market conditions or customer needs. This can involve changing the company’s products or services, target market, or overall business model. Pivot consulting aims to help a business stay relevant and competitive in a rapidly changing business environment.

More simply, pivot consulting focuses on adapting a business to changing market conditions, while turnaround consulting focuses on helping a struggling business recover from financial distress.

Afdonex “pivots” and “turnarounds” can come in many forms – from small but critical course corrections to more significant strategic and business model pivots or product & service innovation, enhanced marketing strategies, and even restructuring. Learn more about Afdonex turnaround consulting services here. You can also read informative business articles in the news section of this website.

Every situation is, of course, different. However, if you do nothing while your KPIs are trending poorly, you will likely be guaranteed a bad outcome for your business. A turnaround or pivot consultant is a business management expert who can be a knowledgeable second set of eyes on your company’s situation and help you plan for a better future.

It’s okay, and it’s astute leadership to get outside management expertise to help you through your difficult situation. However, you have much riding on returning your company to positive momentum.

Who needs turnaround and pivot consulting?

Every company must undergo significant change to become stronger in a rapidly changing, competitive world. If a company is good enough and lasts long enough, several pivots & restructures will go through its lifecycle.

Forward-thinking companies that invest time and resources to understanding their problem and carefully developing effective change strategies – will likely have long-term success.

An established business can struggle for many reasons, including:

• Business strategies that no longer align with marketplace realities (product-market fit).
• High staff turnover due to poor management of employee communication, engagement, development & compensation.
• Ineffective marketing, branding and customer engagement strategies.
• Insufficient customer and market research, data and understanding.
• Overly rapid growth or expansion has resulted in cash-flow issues.
• Poor financial controls.
• Unclear or internally misunderstood corporate purpose, mission & vision.

When does a business need turnaround or pivot consulting?

For most businesses, the best time to consider implementing turnaround change strategies is early, when your internal indicators of health & growth are beginning to flatten or go negative. Three months of weak metrics are generally enough time to know that things are changing for your business and you need to react. Especially be sure to act early if cash flow is tight.

The earlier you understand and address the issues, the more manageable the solution task is. In addition, you will likely have enough cash flow and time to do what’s required to come out the other end successfully.

What if the consultant doesn’t come from my industry?

The consultant does not need to be an expert in your industry. What this consultant brings to the table is fresh eyes and a solid understanding of management, product and growth fundamentals and strategies for successful turnarounds.

Suppose specialist knowledge is needed but unavailable through Afdonex or your team. In that case, it can be contracted through our network of external subject matter experts to ensure the project’s effective servicing. Again, the consultant will take the time to understand your situation and business environment to work with you on the best go-forward strategies.

Is Afdonex the right solution for my business?

The best way to find out is to contact us for a free initial consultation. First, we want to understand the scope of your business problem, and we both want to trust that Afdonex is the right fit for the project. From there, we can work together on successfully delivering a critical project for your company and its stakeholders. Our focus is on medium businesses, sized from 10 to 100 employees, generally between $2 million and $20 million in annual revenue.

Through a multi-decade career, I’ve been in similar situations to the one you face. In my experience, the best solutions come from bringing together the right thinkers to collaborate on winning strategies. But you don’t have to do it alone. Contact Afdonex to get the help your company needs.