How do you plan and execute a successful exit or recovery from a turnaround?

In crafting a successful turnaround strategy, delineating the exact roles and responsibilities of each team member is paramount. Mere staff listings without clear delineation of their respective roles and responsibilities can lead to confusion, inefficiency, and ultimately, failure. To ensure the efficient execution of the turnaround plan, every team member must understand their precise role and how it contributes to the overall strategy.

Make sure you have a team in place that can execute on what needs to be done to turn the organization around. If needed, make changes in the executive team to assure the necessary skill set is in place, and that their is a good synergistic approach and alignment of the team to make the necessary changes. A strong and aligned team is a must to have a successful turnaround

Assess the situation "look see" will likely also have lenders advisors report to the company, very worthwhile to preform a gap analysis for missing imperatives. Also, prepare a value based outcome with defined milestones and metrics for stakeholders and court to see and embrace. Generally I add a 100 day cash flow, by week, and a projected prioritized action plan

I would add that assessing potential improvement areas or opportunities for growth should be viewed through the lense of progression. Meaning, how do immediate improvements impact potential or future changes or growth? Is this assessment only serving point in time or does it account for continuous innovation, growth and changes to the current state of ideal operations?

this is an essential first step and we should measure our progress against this in an ongoing gap analysis with full transparency and disclosure

Pretty much serial successful textbook advice for setting a strategic value enhancement outcome with milestones and stakeholder communication

One thing I have found helpful (in addition to all that is listed) is the importance of prioritizing and establishing smaller, incremental indicators of positive progress. For example, role clarity may need to be prioritized over external engagements. I'm doing so, there is potential to alleviate pressure of competing tasks staff may feel are equal. In doing so, focus of improvement remains inward with the objective of staff having clarity in their roles and the ability to determine what role they play (if at all) in other requests.

Executing the plan is often like the childhood game of "Snakes and Ladders" you will have wins and losses which must be communicated with full disclosure on a timely basis to stakeholders. This provides integrity-based execution and communication because there will be setbacks and being open and honest is critical to your credibility and trust engagement

I operate on weekly reporting compared to the plan on pivotal KPI's and market conditions with a critical focus on lender disclosure and operational cash flow improvement

An exit can be challenging depending on the degree of criticality for the Turnaround plan at the outset, it is wise to consider this as part of your initial plan outcome. under the heading of sustainability and return to profitable growth. during the plan, you need to identify the transition team for the exit

For greater in-depth discussion i can be contacted through my LinkedIn profiles save and except NDA restrictions and discussing actual cases therin