The Four Rs To Turnaround a Business

A turnaround can take several forms based on the severity of the changes required.

Some businesses require a complete overhaul of their operations while others perform a repositioning or rebranding.

Here are the four Rs to turn around your startup:

Retrenchment.

In retrenchment, the business refocuses on the core business and exits non-core initiatives.

This is often used to move to cash flow positive or break even.

This comes about during downturns in the economy.

Repositioning.

In repositioning the business, it moves the company to a new place in the market landscape.

This comes from changing the price or promotion of the product.

This often happens when new competitors enter the market or the market changes.

Replacement.

In replacement, the business replaces the team.

This often occurs as the company grows from seed to Series A and later Series B stages.

The skills required changes so the team must change.

Renewal.

In renewal, the business refreshes the management team’s focus.

This often occurs when the business hits a plateau.

While the core business is solid, revenue appears to have stalled.

Renewal gives the business a new mantra and a fresh take on the market.

Consider these levels of restarting your business.

 

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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.