» TURNAROUND SITUATIONS
Premier Business Experts’ Professionals Help Turnaround Struggling Businesses!
In today’s highly-regulated, highly-taxed, extremely-competitive, business world many firms are struggling with how to cope and how to survive. With its teams of highly talented individuals covering the basic functional areas of commerce, the professionals at Premier Business Experts have helped to reinvigorate their clients’ enterprises and put them on track for future successes. They have done this by analyzing KPMs (key performance metrics) and by providing cost-effective recommendations. In some cases the recommendations have involved changing the marketing mix (i.e., products, prices, promotions and/or distribution) and in other cases they have involved financial, accounting and/or managerial issues.
How Premier Business Experts Turned Around a Car Repair Facility
Problem: An automobile-body-shop owner noticed that the costs at his repair facility were increasing to the point that the business was beginning to lose money.
Solution: The team at Premier Business Experts examined the expenses and noticed that the monthly-ordering-quantities of certain items, like paint, had been dramatically increasing during the last two-years, despite a very modest growth in the monthly workloads. With some digging, the team at Premier Business Experts soon discovered that some employees had been taking long, cigarette breaks behind the repair center and that they were, in plastic garbage bags, carrying supplies out the back door. These unscrupulous employees were then directly handing them to a non-employee friend and/or setting them in the dumpster of a neighboring business for “later taking.” The remedy, in this case, was easy. It was to (1) fire those employees who were hanging out behind the building, (2) install security cameras, (3) secure the backdoor so it could not be opened by anyone other than the shop owner, (4) mandate that employees leave through the front door when their shifts were over, (5) put tracking numbers on incoming materials and (6) assign the tracking numbers for the supplies, as well as employee names, to specific jobs. The result was that the costs again became reasonable and the business regained its profitability!
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