Sandhill's Turn Around Practice combines the talents of our consultants and the resources of TMA.
Sandhill Executives are experienced in helping troubled companies in the recovery process, including serving as interim corporate managers, financial and operating advisors, supplementing the company’s accounting staff. Through involvement in the TMA (TurnAround Management Association), and attending continuing education courses through the TMA Body of Knowledge and CPA certification classes, the executives stay on top of the latest developments in the field.
Sandhill’s Turn Around Practice has a focus in the “early workout” arena. A good company in the early stages of distress, or foreseeing an upcoming cash flow squeeze will benefit from our experience in this field. We will typically take the following approach to put your business back on the right track
- Understand what business you are in
- Assess the strengths of the Management Team to ensure success in this business
- Ensure that interests of management and ownership are properly aligned
- Make sure you understand the numbers and business controls
- Define the core business and exit those non-core businesses
- Cut needless expenses and costs
- Develop a business plan and implement it quickly and decisively
- Reduce financial leverage and reduce your investment in working capital, then stabilize the business to prepare for future growth