In a nearly viral discussion on one of my LinkedIn groups, the originator asked (at some point long ago) if a period of free consulting was worth investing in to help secure a potential longer term relationship with a would-be client. In that discussion group, the question was asked within the context of an individual or “single shingle” consultancy. After more than 5000 comments over several years, the answer to that question remains decidedly inconclusive. Continue reading Differentiating a Turnaround Firm to Win More Cases
Category Archives: Sales Strategy
Don’t Let Dissembling Sales and Marketing Managers Derail a Turnaround
It is safe to say that the majority of companies in distress are experiencing weak top-line trends. Unfortunately, it is also true that in most cases, TM firms are ill equipped and unable to materially reverse their clients’ top-line woes. Continue reading Don’t Let Dissembling Sales and Marketing Managers Derail a Turnaround
The Turnaround Where the Tail Effectively Wagged the Dog
A $400 million diversified energy company ran into a cash crunch and tripped several covenants on loans with a large regional bank. The lender gave the company several Turnaround Management Firms to choose from to help it to better understand and manage its cash flow and needs. While the case appeared to be a straight forward financial case, the CEO of the company thought that poor marketing and sales were at the heart of the his company’s problems. Moreover, the CEO was disproportionately concerned with a $3 million consumer entertainment subsidiary at the company. Given the CEO’s concerns, the company chose the only Turnaround Management Firm that it interviewed that offered consumer and business to business sales and marketing advisory services. Continue reading The Turnaround Where the Tail Effectively Wagged the Dog
A Turnaround Case That Generated “Instant” Top-Line Growth
In this case, a legal services company went into default on its loan. The PE sponsor was forced by the company’s lender to bring in a turnaround firm to serve as a CRO and to provide the bank with clarity on the company’s finances. After the initial financial evaluation it became clear that marketing and sales issues were at the heart of the company’s problems. The turnaround firm on the case was subsequently able to generate significant additional revenues on the project because it possessed its own marketing and sales advisory. Continue reading A Turnaround Case That Generated “Instant” Top-Line Growth
Turnaround Case Study – The 363 Sale That Went Better Than Expected
In this case, sales, marketing and operational consulting capabilities provided by Michael Roth Advisors helped a Turnaround Management Firm to secure a case, a client to improve performance during a turnaround management process and a lending group to generate higher returns from a 363 sale. Continue reading Turnaround Case Study – The 363 Sale That Went Better Than Expected
Profiting from a TM Firm Marketing & Sales Practice
Previous posts outlined how Marketing and Sales (M&S) advisory services generated incremental billings for a prominent TM firm, the processes they used to generate those billings, and how other TM firms could do the same. This post covers how TM firms can ensure that M&S services are profitable if they choose to deploy them. Continue reading Profiting from a TM Firm Marketing & Sales Practice
Two Ways a Turnaround Firm can Successfully Deploy Sales and Marketing Consultants
Sales and Marketing consulting can be a source of new and needed revenues for many more Turnaround Management Firms. However, before that occurs, traditional, financially based Turnaround Management professionals must become more aware of and comfortable with how Sales and Marketing services can be profitably deployed. Continue reading Two Ways a Turnaround Firm can Successfully Deploy Sales and Marketing Consultants
Sales and Marketing Consulting as a Revenue Platform for Turnaround Management Firms
In a still slow Turnaround Industry, some Turnaround Management Consulting firms may want to consider an “all of the above” strategy for generating additional consulting revenues. One such strategy that has proven effective for at least one prominent Turnaround Management Firm has been the deployment of a supplemental marketing and sales force effectiveness advisory. Continue reading Sales and Marketing Consulting as a Revenue Platform for Turnaround Management Firms
One Way to Generate Incremental Revenue for a Turnaround Management Consultant
Fee generation has been a challenge in the turnaround management industry over the past few years. Yet, as our most recent case demonstrated again, introducing operational sales and marketing consulting services into an engagement can be a consistent source of new revenue for Turnaround Management Firms. Continue reading One Way to Generate Incremental Revenue for a Turnaround Management Consultant
Spend on Core Competencies – Eliminate Waste and Grow Sales
Several common refrains about spending are often untrue. It is often untrue that grandfathered spending programs or trade allowances are simply “the cost of doing business”. In a similar vein, it is often not accurate when executives say that if “we stop that program our sales will dry up over-night”. Finally it is definitely untrue when some say that “all spending has some beneficial effect on my business”. Continue reading Spend on Core Competencies – Eliminate Waste and Grow Sales