Turnarounds are an important part of a business’s survival and sustainability. The turnaround is typically preceded by some significant events that have negatively impacted the business’s ability to perform and produce successful results. More often that not, the events that led to the need for the turnaround were ignored by leaders. This happens because they do not have the skills and expertise to be leaders and as a result, they throw the organization into chaos.

Unfortunately, the leaders that in essence created the chaos that requires a turnaround more than likely are not skills to handle it. As a result he company must find the subject matter expert in turnarounds to come in and save the day. Leaders who have developed the unique skills and expertise with turnarounds are somewhat rare to find.

Turnarounds require the subject matter experts be a combination of proficient leaders and knowledgeable consultants. They must balance the art and science of leading and managing a business. These individuals likely have had several or more experiences in making order out of chaos in businesses.

It is critical to include a mention about work ethic when it comes to those who are successful with business turnarounds. They have a can do attitude that is shown in their ability to get things done through their own work and the work of others. They have a work ethic that gives them to drive to jump in and get it done no matter what.

There is a process or system to successfully turning a failing business around. The approach must be holistic and look at everything that is being done to find the failures, barriers, and challenges. Finding the best solutions and improvements comes with experience and acumen.

The skills and expertise needed to be a successful turnaround consultant or organizational change agent are very specific. The individual must be organized with solid follow through skills, must be able to communicate effectively and concisely when complex issues are involved, and must be able to see the vision of who things will be when the turnaround has been successfully completed. Companies are best supported by an expert in turnaround when they do their due diligence with any consultant to be considered for their job.

The impact of turnarounds on businesses is intended to be positive and measurable. When the baseline data is complied and reported at the start of the turnaround it serves as the monitoring device throughout the process. When the baseline data is compared with the results post turnaround, it becomes very clear how successful the work completed was for the business.

Turnarounds are a part of the evolution of a business and are required from time to time to keep the company relevant and sustainable. Unfortunately, too many business leaders avoid change and as such a much needed turnaround. Leaders who see the value and ROI of turnarounds are more likely to have a prosperous and successful business for the long term.