TURNING A BUSINESS AROUND Other books by Mark Blayney Buying a Business & Making It Work A step-by-step guide to purchasing a business and making it successful Buying a business is not just a case of doing a deal. You buy a business to become the owner of a successful business that achieves your personal and professional objectives. This book takes you through the five essential phases that will help you to achieve those objectives. Selling Your Business for All It's Worth How to prepare your business for sale and get the best possible price This book gives first-hand advice on deciding what you want to sell, picking the best time to sell, doing market research, preparing the paperwork, marketing your business, dealing with enquiries and completing the sale. 'An excellent guide to the complicated process of selling a business and helping you get the best possible price. Describes the process in detail and is full of useful tips.' The Letting Update Journal Send for a free copy of the latest catalogue to: How To Books Spring Hill House, Spring Hill Road Begbroke, Oxford, 0X5 1RX, United Kingdom email:
[email protected] http://www.howtobooks.co.uk TURNING A BUSINESS AROUND How to e and ensure stays healthy MARK BLAYNEY howtobooks To Pat, for all her support Published by How To Content, A division of How To Books Ltd, Spring Hill House, Spring Hill Road, Begbroke, Oxford 0X5 1RX. United Kingdom. Tel: (01865) 375794. Fax: (01865) 379162. email:
[email protected] http://www.howtobooks.co.uk All rights reserved. No part of this work may be reproduced or stored in an information retrieval system (other than for purposes of review) without the express permission of the publisher in writing. The right of Mark Blayney to be identified as the author of this work has been asserted by him in accordance with the Copyright, Designs and Patents Act 1988. © 2005 Mark Blayney First published in paperback 2002 Second edition 2005 First published in electronic form 2007 ISBN: 978 1 84803 114 2 Cover design by Baseline Arts Ltd, Oxford, UK Produced for How To Books by Deer Park Productions, Tavistock, Devon, UK Typeset by PDQ Typesetting, Newcastle-under-Lyme, Staffs, UK NOTE: The material contained in this book is set out in good faith for general guidance and no liability can be accepted for loss or expense incurred as a result of relying in particular circumstances on statements made in the book. The laws and regulations are complex and liable to change, and readers should check the current position with the relevant authorities before making personal arrangements. Contents List of illustrations Preface Acknowledgements ix xi xiv 1 Introduction The importance of business skills Managers are critical in a crisis What to do in times of difficulty Take the time to do a business health check 2 Turnaround Obtaining support for a turnaround Understanding your options The conditions necessary for a s