Business Turnaround podcast

In business, especially when you’re in a turnaround situation, perfection is often the enemy of profitability. When you’re waiting for the perfect information, the perfect opportunity, or the perfect solution, you’ll likely be waiting forever. Worse, by the time you’ve perfected everything, your business might have already missed key opportunities to move forward.

When your business is in trouble, one of the first areas you need to assess is how your company is generating revenue. It’s not just about how much money is coming in; it’s about whether the way you’re making that money is sustainable. During a turnaround, it’s essential to break down your revenue channels and take a hard look at what’s working, what isn’t, and what needs to be changed.

In a business crisis, one of the hardest truths to face is that the same team that led the company into trouble is rarely the team that can lead it back out. This isn’t just about competence; it’s about mindset, energy, and vision. The reality of a turnaround is that sometimes you have no choice but to sweep out the old to make way for the new.

When your business hits a rough patch, it’s natural to feel the weight of those challenges bearing down on you. The instinctive reaction might be to resist, to avoid the discomfort, and to push back against the difficulties. But what if, instead of resisting, you welcomed adversity? What if you saw it as an opportunity—not just to improve your business, but to grow as a leader?

When a company is in a growth phase, it’s natural to expand — new divisions are added, management layers increase, and more complex projects are taken on. This is all part of scaling up and capturing more opportunities in the market. Growing revenue is essential. But what happens when the business hits a downturn? Those same strategies that worked so well during the growth phase can start to weigh the company down.

When a business is in trouble, the weight of debt can feel overwhelming. It’s not just about the numbers; it’s about the daily pressure of keeping the business afloat while knowing that payments are looming. Over the years, Marek has successfully restructured nearly 10 million in debt, primarily with banks and suppliers. But it’s not just about cutting deals—it’s about strategically aligning your debt load with the cash flow your business generates. Tune in to discover Marek’s secret weapon in debt restructuring—DtE swaps.

In a business turnaround, growing sales and ensuring sustainable growth are critical, yet tricky. Today, Marek explores how to leverage modern channels, enhance your cash conversion cycle, and avoid the pitfalls that can make things worse. He’ll also discuss how increasing revenue can sometimes hurt your business even more if not managed correctly.

Effective leadership is the cornerstone of any successful business turnaround. When a company is in crisis, strong leadership can make the difference between failure and recovery. In today’s episode, Marek explores the key aspects of leadership that are crucial during a turnaround, including vision, communication, decision-making, and team motivation.

A successful business turnaround starts with a comprehensive diagnostic review. This crucial step helps identify the root causes of distress and forms the foundation for developing an effective recovery plan. Today, Marek covers the objectives, approach, and key components of a diagnostic review, including short-term survival analysis, viability assessment, stakeholder attitudes, and more.

Turning around a struggling business is no small feat, but with a clear and structured approach, it’s entirely possible. In this episode, Marek will walk you through a practical framework for achieving a successful business turnaround. This framework will help you identify critical issues, implement effective strategies, and steer your company back to profitability.