Checklist: Turnaround Strategies

1.       Have you conducted a SWOT (strengths, weaknesses, opportunities and threats) analysis of your businesss?                 

                                                 Yes                 No  

2.       Do you capitalize on business opportunities and strengths?

                                                 Yes                 No

3.       Do you strategically plan, document and execute the plan, and then hold your company accountable?

                                                 Yes                 No

4.       Have you looked for ways to lower inventory costs?   Can you reduce or turnaround inventory quicker?

                                                  Yes                 No

5.       Is company management open to change?                                           

                                                   Yes                 No  

6.       Do you continually market in good and bad times?                               

                                                   Yes                 No

7.       Do you find ways to improve cash flow?  Sell idle assets?  Maximize use of space? Have accounts receivable procedures in place?                                                                   

                                                   Yes                 No

8.       Have you sought out investors, partners or companies with with which to merge or buy?

                                                   Yes                 No        

9.       Do you seek help from trusted advisors before you're in deep trouble? 

                                                  Yes                 No

10.    Do you carefully consider new purchases or investments and whether they fit in with your business strategy?                                     

                                                  Yes                 No

 

Results

Total Number of Yes Responses: ________

    # Of Yes Responses                   Rating

   9 or 10                            Excellent

   7 or 8                              Good

   5 or 6                              Fair

  4 or less                           Help!

If you want ideas to improve your score, contact a business analyst at (801) 364-4949.