Key Tests of a Turnaround Process

In turning around a startup there are key tests you must pass to achieve success.

Here’s a list of tests:

Is the core business viable?

If the basic business won’t work then no amount of funding or strategy will save it.

Do the team and the investors buy into the turnaround?

If no one believes it will work then it won’t.

Does the leadership have credibility?

If the leader doesn’t have the credentials, then it’s going to be hard to motivate the team.

Can you get support from the lenders?

If they won’t give you room to try a turnaround then there’s no opportunity.

Can you raise more funding?

If you can raise additional capital you have another shot at the business.

Is there enough cash to run the business for at least a short period of time?

If you have some cash you can make a go of it.

Consider these key tests to determine if you can launch a turnaround.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.

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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.