{"id":6390,"date":"2021-04-19T15:09:47","date_gmt":"2021-04-19T13:09:47","guid":{"rendered":"https:\/\/cabinet-management-transition.com\/blog-solution-for-a-business-in-trouble\/"},"modified":"2021-04-19T15:09:54","modified_gmt":"2021-04-19T13:09:54","slug":"blog-solution-for-a-business-in-trouble","status":"publish","type":"post","link":"https:\/\/cabinet-management-transition.com\/en\/blog-solution-for-a-business-in-trouble\/","title":{"rendered":"Solutions for a company or subsidiary in difficulty"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6390\" class=\"elementor elementor-6390 elementor-5630\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e49ebec elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e49ebec\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-66d16a8\" data-id=\"66d16a8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e9f0a87 elementor-widget elementor-widget-heading\" data-id=\"e9f0a87\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Solutions to turn around a company \/ subsidiary in difficulty  <\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0509aa3 elementor-widget elementor-widget-text-editor\" data-id=\"0509aa3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>In this article: the 4 major <strong>solutions for a struggling company<\/strong>: do violence to yourself and accept the state of the art, get organized, get the teams on board, increase profitability.<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3eb1ee0 momen-table-content elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"3eb1ee0\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;,&quot;h3&quot;],&quot;exclude_headings_by_selector&quot;:&quot;.toc-exclude&quot;,&quot;marker_view&quot;:&quot;bullets&quot;,&quot;icon&quot;:{&quot;value&quot;:&quot;&quot;,&quot;library&quot;:&quot;&quot;},&quot;no_headings_message&quot;:&quot;No headings were found on this page.&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t\t\t\t<h3 class=\"elementor-toc__header-title\">\n\t\t\t\tSummary\t\t\t<\/h3>\n\t\t\t\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__3eb1ee0\" aria-expanded=\"true\" aria-label=\"Open table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\" role=\"button\" tabindex=\"0\" aria-controls=\"elementor-toc__3eb1ee0\" aria-expanded=\"true\" aria-label=\"Close table of contents\"><i aria-hidden=\"true\" class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<div id=\"elementor-toc__3eb1ee0\" class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b71456d elementor-widget elementor-widget-heading\" data-id=\"b71456d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">1 - To have a trigger: to do violence to yourself, to accept that you are in crisis<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fd81f1f elementor-widget elementor-widget-text-editor\" data-id=\"fd81f1f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Even when their business is doing badly, business owners are positive, moving forward, and telling themselves that their worries are temporary, that they will work it out (on their own), that it will get better.<\/p>\n<p><strong>The reality<\/strong>, as with fixing any problem, is to<strong> &#8220;get a shock&#8221; &#8220;panic&#8221; to realize that we need to &#8216;really&#8217; act<\/strong>, and change.<\/p>\n<p>The first action is to<strong>accept that your company is in trouble<\/strong>, and may be worse off than you think.<\/p>\n<p><strong>The awareness of the magnitude of the problem allows us to address it.<\/strong><\/p>\n<p>You also have to accept that you are (partly) responsible:  <strong>stop the excuses<\/strong> &#8220;the market is difficult&#8221;, &#8220;the period is complicated&#8221;, &#8220;we lost such and such a market that&#8217;s why it&#8217;s going badly&#8221; &#8230; because  <strong>even if it&#8217;s true, it<\/strong> doesn&#8217;t help.<\/p>\n<p>You have to be able to say to yourself: there are no excuses: the company is in difficulty, it&#8217;s going very badly. We have to change: <strong>we are managing a crisis<\/strong>.<\/p>\n<p>The 3 important human qualities to leave are:<\/p>\n<ul>\n<li>Be courageous, resist stress<\/li>\n<li>Acknowledging mistakes, going back on decisions you have made<\/li>\n<li>Explain what you are going to do, <strong>and do it<\/strong><\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a0ac58 elementor-widget elementor-widget-heading\" data-id=\"0a0ac58\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">2- Company in difficulty: it is necessary to get organized  <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69bcdb2 elementor-widget elementor-widget-text-editor\" data-id=\"69bcdb2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The solution to turn around a subsidiary or a company in financial difficulty is based on the following organizational points:<\/p>\n<ul>\n<li><strong>Try to reduce <\/strong><strong>and<\/strong><strong> spread out debts<\/strong> to try to survive (dealing with banks, suppliers, subcontractors, taxes, URSSAF etc). To do this: tell the truth, ask for time, and express a willingness to pay in any case.<\/li>\n<li><strong>Make a plan<\/strong>: establish a contingency plan to optimize your cash flow, with immediate measures. The plan must be for 1 year detailing the objectives, actions, and deadlines<\/li>\n<li>Translate the plan into a<strong> costed<\/strong> <strong>business<\/strong><strong> plan<\/strong><\/li>\n<li><strong>Agree to consider bringing in an expert<\/strong>: whose job is to lead companies to growth. Its cost is quickly repaid because it is there to make money for the company. Beyond his support, which can be precious, he brings an outside view, and allows the company to regain margin and profits.<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c05984a elementor-widget elementor-widget-heading\" data-id=\"c05984a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">3- Being positive, reassuring, and getting the teams on board is one of the solutions for getting a company in trouble back on its feet:<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72ed13a elementor-widget elementor-widget-text-editor\" data-id=\"72ed13a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>When a company is in trouble, leaders<\/strong> don&#8217;t <strong>always<\/strong> realize how <strong>much their teams see, feel, talk, and panic<\/strong>. Moreover, employees need to believe that the company can succeed in order to perform.<\/p>\n<p>It is a matter of being transparent, of reporting the crisis\/difficulty, but of reassuring (!), of explaining that success is largely possible.<\/p>\n<p>First of all,<strong>it is important to listen to the teams<\/strong>: to free up the floor, to listen to those who speak (and not just one or two people who might give a false view of the truth). Take the admonitions without being in justification or aggression: just listen and take the remarks into account.<\/p>\n<p><strong>Secondly, the action will be to boost employee morale<\/strong>, as they are obviously the key to growth.<\/p>\n<p>For example, <strong>&#8216;ban&#8217; employee emails in the evening<\/strong> so they can enjoy their personal lives. It makes them feel more energetic and optimistic in the morning, it raises employee morale and increases productivity in the long run.<\/p>\n<p><strong>Have confidence in your teams<\/strong>. Make decisions transparent to them, <strong>consider them regardless of their hierarchical level<\/strong>. Employees are no fools, and can sense when there is a lack of transparency.<\/p>\n<p>If they feel that there is transparency: they feel safe, and are boosted. Employees are eager to work for a common company project and not just for themselves!<\/p>\n<p>Other leads :<\/p>\n<ul>\n<li>let employees be a force of proposal and have initiatives.<\/li>\n<li>Do not neglect the power of small gestures: a thank you, a compliment, can motivate all the more!<\/li>\n<li>offer them a medium and long-term vision.<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d2c0a1 elementor-widget elementor-widget-heading\" data-id=\"6d2c0a1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">4- Increase the company's profitability<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-81afefd elementor-widget elementor-widget-text-editor\" data-id=\"81afefd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>When the subsidiary or the company is in difficulty, the profitability of the company must be increased. The items on which to act are :<\/p>\n<ul>\n<li><strong>Reduce costs<\/strong>:\n<ul>\n<li>review each cost (even small ones), remove it if unnecessary, or optimize it<\/li>\n<li>renegotiate all expense items<\/li>\n<li>buy cheaper<\/li>\n<li>be permanently at the economy (up to electricity, used spaces, price of tools&#8230;)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Increase turnover<\/strong>:\n<ul>\n<li>study the pricing policy<\/li>\n<li>refocus on its core business (if it is still relevant), and rely on the teams in place<\/li>\n<li>increase some rates<\/li>\n<li>see which products\/services bring in the most money, look for a promising sector  <\/li>\n<li>study which types of customers bring in the most, can we sell them more?<\/li>\n<li>Are the products\/services still competitive?<\/li>\n<li>find new clients, look for new opportunities in the industry<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Increase productivity  <\/strong>\n<ul>\n<li>optimize, reduce processes<\/li>\n<li>define KPIs<\/li>\n<li>measure operational efficiency: to do this, communicate the objectives and the means of measurement<\/li>\n<li>encourage employees<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Reorganize, restructure if necessary<\/strong>: aim for simplicity and accountability\n<ul>\n<li>listen to the teams on the subject<\/li>\n<li>study the existing organization, see what optimizations need to be made<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>MOMEN assists companies in difficulty: interim management helps to restore profitability and growth<\/strong> (link &#8220;contact us below&#8221;)<\/p>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8f7acdf elementor-widget elementor-widget-template\" data-id=\"8f7acdf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"6297\" class=\"elementor elementor-6297 elementor-865 elementor-865\" data-elementor-post-type=\"elementor_library\">\n\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bf85d83 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bf85d83\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4988f6f8\" data-id=\"4988f6f8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-802d39c elementor-widget elementor-widget-heading\" data-id=\"802d39c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Let's check together if your situation requires an interim manager<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e5a238f elementor-tablet-align-center elementor-align-center elementor-widget elementor-widget-button\" data-id=\"3e5a238f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/cabinet-management-transition.com\/en\/contact-us\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Contact us<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Solutions to turn around a company \/ subsidiary in difficulty In this article: the 4 major solutions for a struggling company: do violence to yourself and accept the state of &hellip;<\/p>\n","protected":false},"author":4,"featured_media":5635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Solutions for a company or subsidiary in difficulty  ","_seopress_titles_desc":"The solutions for a company in difficulty: do violence to yourself and accept the state of the art, get organized, get the teams on board, increase profitability.","_seopress_robots_index":"","footnotes":""},"categories":[12],"tags":[],"class_list":["post-6390","post","type-post","status-publish","format-standard","has-post-thumbnail","category-actualites"],"acf":[],"_links":{"self":[{"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/posts\/6390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/comments?post=6390"}],"version-history":[{"count":0,"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/posts\/6390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/media\/5635"}],"wp:attachment":[{"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/media?parent=6390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/categories?post=6390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cabinet-management-transition.com\/en\/wp-json\/wp\/v2\/tags?post=6390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}