Before you approach any potential funders or resource providers, you need to have a clear and realistic assessment of the situation. This includes identifying the root causes of the problems, the urgency and severity of the issues, the available assets and liabilities, the potential solutions and alternatives, and the expected benefits and risks of the TAM project. You also need to understand the interests, expectations, and concerns of the different stakeholders, such as owners, creditors, employees, customers, suppliers, and regulators. Having a comprehensive and credible analysis of the situation will help you communicate the need and value of your TAM project and build trust and rapport with the funders and resource providers.
I meticulously craft a compelling business case, highlighting the potential ROI & outlining a detailed strategy. I leverage data-driven insights to demonstrate the urgency and viability of the project, showcasing past successes and industry benchmarks. Building strong relationships with key stakeholders, I engage in transparent communication, addressing concerns proactively and aligning objectives with organizational goals. Through effective negotiation, I emphasize the long-term benefits of investment, showcasing a clear path to sustainable growth and profitability. By instilling confidence in my ability to execute the turnaround plan, I foster trust and commitment, ultimately securing the necessary funding and resources to drive success.
Como CRO, você deve antes de mais nada, entender a fundo qualquer potencial de financiador ou provedor de recursos que sustentarão a operação. Você deve ter uma visão realista, além de uma avaliação clara e sucinta da situação da empresa. isso vai incluir identificar as causas raiz dos problemas, as urgências e as gravidades dos problemas, os ativos e passivos disponíveis, as possíveis soluções e alternativas de arriscar a entrar em um turnaround. Também você deve e precisa identificar quais são os interesses, expectativas e preocupações das diferentes partes interessadas, como acionistas, credores,fornecedores,clientes e funcionários. Ter uma análise mais aprofundada do processo, vai fazer você decidir se é viável ou não entrar campo.
In my experience, you should not seek a perfect assessment before seeking help. Companies in trouble often do their best with the available resources but can be too close to the situation to see everything clearly. Sometimes the "problem" is often a symptom. Ask "Why?" at least 3-5 times to get to the root of the problem. For example: Problem: We don't have the cash to make payroll in two weeks. Why? There is no cash in the bank. Why? Some of our clients are not paying us on time. Why? We don't know. We never asked. It took three "why's" to understand the root of the problem is we've never asked the people who know the answer: Our clients. Sometimes an outsider can help you dig up "why" the organization is in trouble.
Once you have assessed the situation, you need to develop a plan that outlines the objectives, scope, timeline, budget, and milestones of your TAM project. Your plan should be based on sound data, evidence, and assumptions, and should align with the best practices and standards of TAM. Your plan should also be flexible and adaptable to changing circumstances and feedback. You need to demonstrate that your plan is feasible, effective, and efficient, and that it will deliver the desired results and returns for the funders and resource providers. You also need to address any potential challenges, risks, or contingencies that might affect the implementation or outcome of your TAM project.
When I was working with a client who was afraid of pre-planning everything, we created a limited, obvious list of low-hanging opportunities that produced immediate positive results. This gave us a little momentum and allowed us to dig deeper and unveil the large opportunities that made a huge difference in the organization.
This is where a TAM expert is much needed. In my personal experience most clients are working on day to day basis without a proper plan. It could be for various reasons, uncertainty, lack of resources or self belief are they key ones. As TAM expert I make sure that I develop a plan for them to stick to, with clearly defined budget, timeline and milestones. More often than not a simple plan with clearly specified objectives help companies to get back to winning ways as there is a sense of urgency and responsibility in the actions that they take.
The next step in your TAM project is to identify the possible sources of funding and resources. Depending on the type, size, and stage of your project, you may need to look for internal sources such as cash flow, assets, equity, debt, or cost savings; external sources such as investors, lenders, partners, suppliers, customers, or government agencies; or hybrid sources such as joint ventures, mergers, acquisitions, or restructuring. It's important to find sources that are suitable, available, and affordable for your project and match your goals, criteria and constraints. Negotiating with owners and managers of the business may be necessary to access internal sources. Pitching or collaborating with external sources may be required to secure their support or involvement. Exploring and evaluating hybrid sources could create synergies or opportunities.
One time the resources needed to be reallocated. A root problem was employees who did not have the technical background to move forward with the company. This created a two-step reallocation of resources: 1. Lay off the employees who did not have the skills to move forward. 2. Replace them with fewer but more expensive employees with the required skills. There were some cost savings, but the key issue was having people with the skills we needed to move forward. Were the layoffs tough? Absolutely. Were they necessary to save the organization? Absolutely.
I have worked with many smaller companies and more often than not the biggest source for them is never external it is always internal i.e. the spending. Small companies as I have often seen have no clear logic behind spending. Either they spend too much on unnecessary things or spend too little on necessary things. Correctly allocating resources will help all the stakeholders to be active participants towards the collective goals and that leads to success.
After you have identified the sources of funding and resources for your TAM project, you need to create a proposal that summarizes and presents your situation analysis, plan, and request. This proposal should be tailored to the individual needs of each source, emphasizing the benefits, value proposition, and competitive advantage of your TAM project. Additionally, include relevant information such as the background and profile of your business and TAM team, the problem statement and opportunity statement of your TAM project, objectives, scope, timeline, budget, milestones, expected outcomes, impacts, returns, risks, challenges and mitigation strategies of your TAM project, terms and conditions of your funding and resource request as well as any supporting documents such as financial statements or market analysis. Make sure to present your proposal in a clear, concise and compelling way by utilizing appropriate formats, language and visuals.
Após analisado todas as possibilidades e identificar as fontes de financiamento e recursos para implementar o projeto de turnaround, você precisa criar uma proposta que resuma e apresente sua análise da situação e plano de ação. Aprovado pelos acionistas e sabendo de todos os riscos e oportunidades de um turnaround ter sucesso é hora de começar a trabalhar forte e reduzir os custos e despesas, além de proteger com toda a força o fluxo de caixa e melhorar as negociações junto aos fornecedores e credores.
The final step is to negotiate and secure the deal with the funders and resource providers for your TAM project. This involves presenting your proposal, answering questions, addressing objections, providing clarifications, and discussing options. You should approach the negotiation with a positive and professional attitude, and aim for a win-win outcome that satisfies both parties. You should also be prepared to make adjustments, concessions, or trade-offs, as long as they do not compromise the quality or integrity of your TAM project. You should also be aware of the legal, ethical, and contractual implications of the deal, and seek expert advice if needed. Once you reach an agreement, you should document and formalize it in a written contract that specifies the roles, responsibilities, expectations, and obligations of both parties.
Negociado o acordo ou seja, o contrato de turnaround a ser realizado na empresa e garantido os financiadores e provedores de recursos para o projeto é hora de colocar a mão na massa. Além de tudo você deve estar ciente de suas responsabilidades legais e contratuais. Alinhado, é a hora de formalizar os documentos em contrato, especificando os papéis e responsabilidades, expectativas e obrigações de ambos os lados.
Negotiation is the toughest part of the plan and yet that is the main reason to hire a TAM expert. I have negotiated with different stakeholders of different firms, sometime even the simplest of deals would take weeks of negotiation. The reason is simple, whenever there is TAM program there is uncertainty and every stakeholder feels that there may be a risk involved in agreeing to the offers. As a TAM expert I always tell them that the new offer might be less in some case, however, it guarantees a safe and secured future which may not be possible without the TAM program. The legal, ethical, moral and financial considerations must be clearly presented during the negotiations to make the deal transparent and successful.
Como CRO, você será o CEO Interino da empresa que busca solução através de um turnaround. Tenha em mente que a sua vida na empresa, não será fácil e que a cada dia será um novo desafio. Esteja pronto para assumir o protagonismo e as responsabilidades inerentes de suas funções. Seja você o exemplo que a empresa precisa de poder sair deste 'mar revolto' e seja sempre ético e tenha maturidade e equilíbrio emocional para não atrapalhar as negociações e alinhamento financeiro da empresa.