I have seen so many dramatic client results that have made me particularly proud over the years. Though each one may have a different resolution, the premise for turning failure into success is basically the same. It takes understanding the current situation, plotting a path to success, and acting quickly and decisively.
One example was in restructuring a company by taking it through a chapter 11 bankruptcy so that it could return to the viable, thriving company that it once was. Now, 10 years later, it is still in business, servicing its customers, and providing employment in the community.
Another was a David and Goliath situation where a small company with barely $1 million dollars of revenue was tangled up fighting against a huge financial institution. With my help, we were able to get Goliath to the negotiating table. The result was a contract extension which gave the company time to develop new software. In turn, that software created intellectual property value which allowed for a sale of the company to a larger industry player. The founders got the opportunity to see their vision continue and now work at the new parent company. It was a perfect resolution for this particular situation.
Another was when I was engaged by a company to learn that their cash on hand had plummeted to only $8,000. Although a private equity firm had just invested over half a million dollars three months earlier, the money was totally depleted. In just 11 ½ months, we managed to turn the company into a profitable organization and sell the business generating a return for the investors.
There are many other scenarios where I have worked with management teams to turn failing companies into profitable ones and make profitable companies even stronger. It doesn’t happen by accident however, it takes a well thought out business plan and decisive action.