A few posts ago I promised to write about the warning signs that your company may be headed for a turnaround and could benefit from a Burnaround. Here is the first of the series of warning signs.
You think your company is humming along just great. You hardly ever hear of any problems. The balance sheet has a little too much debt but you’ll work that off over time. Earnings are usually solid, but during the last recession, things got a little shaky. Your customers seem happy, although a few of them have switched to your competition because of price. Fine, you think. Let them go with a cheap brand.
Your employees seem content, as well they should be since you pay the highest wage around. You feel good that you’ve finally got the business on automatic. You can play golf while your people run the show. You don’t need to make any changes because everything is going along just great.
If this sounds like your company, you are in trouble.
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