TURNAROUND COACHING

A cost-effective service designed for the company and owner that can accomplish turnaround and lender goals, but could use experienced guidance.  Coaching is designed for those with turnaround knowledge and skills, but must ensure the process gets started effectively and stays on path. 

Coaching is different than teaching.  CrossRoads understands the difference.

A coaching engagement typically involves a few hours per month of direct CrossRoads involvement. This minimized service is oriented to the smaller business with limited resources which may not be accustomed to formal and professional written reports.  Turnaround process management can be achieved without more direct and involved assistance.  Many users of this service desire to show 3rd party stakeholders (board of directors, family investors, senior management, lenders) that your plans are vetted, independently viewed, and have devil's advocacy built into the process.

These engagements require a monthly fee to reserve a set amount of time from CrossRoads and have minimum terms of 3 to 6 months.  You buy the time, maximize it.  Project management is another typical use for this service.  A common example would be buying and moving a product line from a competitor to your facility.  We provide the capital requirements model, timeline, cost analysis and project benchmarks to prevent common mistakes.

This specialized service can also help you craft a formal Turnaround Plan when your financial institution is uncomfortable with your performance.