Business consultant Fred Herbert says business owners must be aware of the critical signs of a potential business failure and take immediate action. He has introduced a free 4-part video series that outline a clear path to recovery.
Online PR News – 18-April-2012 – Fort Worth, TX – Fort Worth, TX - Master business consultant Fred Herbert says most businesses have a high probability of failure due to management mistakes built in from the start.
The proof is evident in a United States business failure rate of about 80% within five years of startup. Still worse, Dunn & Bradstreet reports a 40% increase in business failures began with the onset of the recession in 2007.
To help business owners detect and treat a potential failure before it’s too late, Herbert has developed a 4-part video series, available without charge at his Business turnaround Blueprint website.
Classic signs of impending business failure include:
* sleepless nights worrying about business;
* struggling to meet payroll – and funding it from personal funds;,
* customer complaints about quality or service;
* low employee morale;
* money pressure from suppliers or bankers, and
* turning down orders because of insufficient funds to buy materials.
Herbert says business owners are often the last to know – or admit – they need help. “It’s awfully hard to be objective about your own business,” he said. “Outside help from a qualified business consultant is usually the best way to get a business back on track, but cash-strapped owners understandably have a hard time with that idea.”
Regardless, a troubled business should sound an immediate call to action for the owner. The free Business Turnaround Blueprint video series covers Herbert’s eight keys to successful turnaround management.
1. Know the truth
2. Develop a plan
3. Financial controls
4. Quality products and services
5. Growing profitable customers
6. Engaged employees
7. Manage the metrics
8. Improvement process
Business Turnaround Help Available
Herbert also offers an advanced turnaround management program that includes on-site interviews and observations, a complete data analysis (with assessment report and recommended actions), as well as on-going personal coaching, as applicable.
Herbert said a good business consultant will generate far more in revenues and savings than the fees charged for services. “There is a short-term expense, but a much greater long-term gain that results from improved processes and greater profitability,” he said.
About Fred Herbert
Fred Herbert is a business consultant and turnaround management specialist with more than 20 years of experience transforming business operations to get optimum quality, efficiency, and profitability. His experience as a business owner and expertise in Lean, Total Quality Management, ISO 9000 and Six Sigma initiatives enables business owners to make improvements across engineering, quality, production, process development, and service delivery functions. For more information, please go to http://www.businessturnaroundblueprint.com.