Background

Objectives

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Background

The resourcing of experienced turnaround managers in the UK is fragmented.

The sector is characterised by "black books" of names kept by Banks, VC's, and Private Equity funds.

You then have turnaround managers tramping the streets, knocking on their doors all trying to get into those books!

For a stakeholder wanting to quickly fill a turnaround role through contacts, it can be a time consuming process to find the right available person.

Stakeholders then need take up references for turnaround managers, even if they have been supplied through an agency. Stakeholders have to be doubly sure that the turnaround manager can do the job. After all there is only going to be "one shot" at getting it right and a lot will hinge on it.

With rescue culture in "full swing" it is time to re-examine the needs of the market place in terms of how turnaround managers are resourced.

Within the Interimconnect network we already have a substantial number of experienced turnaround managers.

Turnaround managers have special needs in terms of up to date knowledge and skills.

Turnarounds generally need some refinancing. Yet the financing and resourcing of turnaround managers are normally separated. Both are needed and yet you need one to do the other. With Total Turnaround Finance we have the finance and the turnaround managers to implement the solution.

Objectives

• Given the growth of the rescue culture it is opportune to examine market needs in terms of how experienced turnaround professionals are resourced.
• With those needs in mind form and grow a powerful grouping of experienced and aspiring turnaround managers.
• Establish a process of checking credentials of members.
• Establish the needs of turnaround managers for networking, training and skills enhancement.
• Use the Total Turnaround Finance grouping as a catalyst to make more turnarounds happen.