Your local trusted Partner for
Cash, Income & Profit challenges
Even the best companies
go through difficult times
Typical reasons include:
> ​loss of a major customer​
> insufficient cash reserves
> bank becomes less flexible
> a reduction in credit rating
> major supplier cost increase
> a lender turns more stringent
> cash deterioration, other reasons
> profit deterioration for a variety of reason​s
> sales reduction (esp if using invoice discounting)
​> a creditor becomes more aggressive about cash collection
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If this is you, or you are concerned it could be,
this page is for you
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And remember if you are in any doubt -
we are here to help you, and our first consultation is free
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If your business is facing financial difficulty, either now or you are concerned about something on the horizon, get in touch to talk it through
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If you are a shareholder, lender or creditor we are happy to be introduced and demonstrate our method of working is in the best interests of all, very much including Management
We can help:
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> Negotiate Time to Pay plans with HM Revenue & Customs
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> Agree payment plans with Suppliers and other Creditors
> Release funding from company assets
> Collect cash from Customers, without hurting your relationship
> Understand the underlying problems and find solutions
> Plan for a successful future
> Help you sell the plan to all (customers, suppliers, bank, lenders, employees ...)
> Manage cashflow
> Get credit terms back with Suppliers
> Get everyone 'on side', focussed on a clear winning plan, and being positive
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In much of the planning and negotiation it often helps to have the objectivity and credibility an outside expert provides. Having an 'outsider' working with you on this also helps to provide new impetus, shifts people away from blame and provides an injection of positive energy. It provides time and focus
All of which cuts the business a bit of extra slack and speeds up progress
Why not do it yourself ?
You have a plan or can develop one, and it may succeed given time and money
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Bringing in an experienced person from the 'outside' helps with credibility, assurance, avoidance of negative emotions, and getting stakeholders onside
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You may be able to get your company back to business as normal with a few key changes, or you may need greater change and long-term financing, and you need to understand which it is, but first you need to create a credible plan that buys you time and gets all key parties pulling in the same direction and feeling positive again. The plan has to show enough change and be deliverable
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You will have even more demands on your time than usual and things need to be understood and decisions made at pace
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It is incredibly important to get communication and negotiations right first time because you may only get one shot at this. You have to promise enough but must know you can deliver more
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You cannot afford a perception that 'everything' is failing, so other deadlines are more important than ever
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Previous experience of what has worked helps us identify urgent actions and the extra pair of experienced hands helps greatly with construction and implementation of the agreed action plan while you continue to run your business
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Not having a shared history helps with objectivity and makes it easier for us to see what needs to change
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As we become known for transparent communication this helps to create a new beginning and encourages focus and positive energy from all stakeholders
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Keegan Bowman provides informed, pragmatic advice. We are skilled and experienced allies on your side at a time when that really helps
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When our job is done, your position is enhanced as the Leader who made the right call at the right time
How we work
Every company is different, every situation unique
That said the start is often along similar lines, something like this:
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Meeting to understand the immediate situation,
to agree a statement regarding this appointment
and a statement about the business position
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Meet with key internal people to understand short, medium & long-term​:
- Cash, Income, Expenditure
- Projects, Lines, Activities
- Deadlines and key risks
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Communication with key stakeholders (two-way)
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Schedule further update/s​
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Create rolling Cashflow Forecast ​
- ​Typically c 13 weeks + appropriate number of months
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Schedule regular meetings to review & update
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Communicate the cashflow forecast​
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Work on Action Plan with clear actions & timescales
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If useful find 'quick wins'
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Agree & communicate the Action Plan​​
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Schedule regular meetings to:
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Review Action Plan progress
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Review Cashflow Actual vs Forecast, and
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Re-set forecast Cashflow, with agreed responsibilities
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and so on ...
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The aim is always that by the time we leave, the business will be delivering a long-term plan for success, benefitting from being leaner, more profitable, and properly financed
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We are available afterwards for any support
Our Turnaround Experience
Rob Keegan is your experienced local partner for turnaround
Early in his career Rob had the exciting opportunity to purchase (with a business partner) a loss-making company. They successfully made the business profitable and Rob exited
Since then he has worked with a number of local companies with differing cash and profitability problems, and so far helped all but one find solutions and go on to thrive
Contact Keegan Bowman and we'll introduce you to Rob straight away
