Mission offers

The turnaround consultant works with companies in difficult financial situations. His in-depth expertise and outside view are essential to saving the company and giving it a new chance of success.

Role of the Turnaround consultant

The Turnaround Consultant is an expert who works with companies in difficult financial situations. Its role is to analyze the financial and operational situation, diagnose the causes of difficulties and propose concrete solutions to manage crisis situations. He is also involved in negotiations with creditors, and assists the company in its transformation to restore profitability and ensure its long-term survival.

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Skills and experience required

  • Management expertise: the consultant must have a sound knowledge of business management principles, including finance, marketing and human resources management.
  • Financial analysis: an understanding of financial statements and the ability to perform detailed financial analyses are essential for assessing a company's financial health
  • Business strategy: the ability to develop and implement effective strategies to turn around a company in difficulty is crucial. This includes the ability to identify growth opportunities and optimize processes
  • Communication and negotiation: strong interpersonal skills are needed to communicate effectively with internal and external stakeholders and to negotiate agreements with creditors and other stakeholders
  • Experience in crisis management: previous experience in managing crisis situations is a major asset. This enables the consultant to make quick and effective decisions under stressful conditions.

Personal qualities required

  • Problem-solving: a strong ability to analyze problems and find creative solutions is essential for overcoming the obstacles encountered during a company turnaround.
  • Adaptability: faced with constantly changing situations, the consultant must be able to adapt quickly and make strategic decisions as circumstances dictate.
  • Integrity: integrity and professional ethics are fundamental to earning the trust of our customers and stakeholders
  • Leadership: the consultant must be able to guide and motivate teams through difficult times, inspiring confidence and encouraging collaboration.

The missions of the Turnaround consultant

  • Diagnosis of the situation: assess the company's financial and operational health, identify the causes of any difficulties encountered.
  • Drawing up an action plan: developing a customized turnaround strategy, including corrective measures and short- and long-term objectives
  • Crisis management: intervene quickly to stabilize the company and implement emergency measures if necessary
  • Financial restructuring: renegotiate contracts and debts, optimize the company's financial structure to restore solvency

Advantages of using a Turnaround consultant

  • Focus on core business: by delegating crisis management to a consultant, the management team can concentrate on the company's core activities.
  • Better prospects for success: turnaround consultants have a success story in revitalizing companies in difficulty, which increases the chances of a turnaround.
  • Integrity: the consultant acts confidentially and impartially, thereby maintaining the company's reputation and preserving stakeholder relations.
  • Saves time: thanks to its experience and resources, the consultant can speed up the turnaround process and minimize losses.

Examples of Turnaround consultant

  • Financial situation analysis: the consultant carries out an in-depth analysis of the ailing company's financial statements to identify the causes of its financial problems. It assesses the company's liquidity, profitability and solvency in order to determine the necessary corrective measures.
  • Organizational restructuring: working with teams, the consultant assesses the company's organizational structure and proposes adjustments to optimize operational efficiency. This can include cost reductions, changes in the chain of command and departmental reorganizations.
  • Debt renegotiation: the consultant negotiates with the company's creditors and financial partners to restructure debts and payment schedules. The aim is to reduce the company's financial burden and improve its ability to repay its obligations.
  • Development of new strategies: the consultant draws up growth and diversification strategies to boost the company's business. This may involve exploring new markets, developing new products or services, or implementing strategic partnerships.
  • Crisis management and communication: during the turnaround period, the consultant acts as the main point of contact for internal and external stakeholders, including employees, customers, suppliers and investors. It communicates transparently about the company's situation and works to maintain trust and credibility.
  • Monitoring and evaluation: once the turnaround plan has been implemented, the consultant closely monitors progress and evaluates the effectiveness of the measures taken. He adjusts the plan as necessary to ensure that the company remains on the road to recovery and long-term viability.

How to recruit a Turnaround consultant

Start by identifying your company’s specific needs. What skills and experience are required to complete the turnaround? Define the consultant’s main missions and essential soft-skills.

Publicize the vacancy on the appropriate channels (company website, recruitment site) or use your professional network, and organize interviews to assess candidates’ skills and personality.

The turnaround consultant must be able to work with management, employees, creditors and other stakeholders. Make sure the chosen candidate has the ability to unite and motivate teams.

The consultant’s mission does not end with the implementation of the turnaround plan. Plan for post-recovery support to ensure that the results achieved will last.

Are you looking for a turnaround consultant who can save your ailing company? Our consulting firm FAITHFUL EXECUTIVE puts its extensive network of consultants at your disposal to support you in this process.

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