Against this backdrop, however, specialist turnaround CEO, Stuart Hayes, recommends a practical and pro-active management style that should enable most businesses to avoid going down the insolvency path in the first place.
“Let's be honest,” says Hayes in a recent article published by Ezine, “completing a successful business turnaround is something that very few businesses ever achieve.”
Hayes informs there are predominantly two reasons for the failure of Western insolvency practices, with the major one of these being that, “most business owners do not recognise the stresses their business face are risking its going concern until too late. “
Rather than risk heading down this path at all, Hayes experience is that they can be avoided entirely by keeping a watchful and ‘no-nonsense’
“Taking time to objectively look at your business interests on a regular basis is critical to avoiding this problem - involving independent and educated observers in this review process is even more beneficial: fresh eyes allow you to see the wood within the trees!”
Hayes’ article can be found on Ezine at the following link:
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SuccessionLeadershipChange.com is a web based resource for leaders who seeking to to Achieve Exit, Succession, Change or Turnaround. It is managed by Stuart Hayes, a Professional CEO and Leadership Trainer.