Turn Around Management Consulting as a Career Choice
Turn around management is a difficult profession. You must travel constantly. Your clients and their employees are always afraid and do not trust you.
Turn around management work is hard and sometimes demoralizing. It is difficult going from assignment to assignment knowing that you will lay off 60 to 80 percent of the workforce. You will feel the pain of every employee that you lay off. You will know that they have a family to provide for and you have made it more difficult for them.
With all of these negatives, what makes someone want to become a member of the turn around management profession? There is a thrill in saving troubled firms. The bankers, the board, the investors and the management have often given up on the company when they call you in. And, then you use your knowledge, your leadership and your WILL to save the firm. You feel like a hero.
And you should feel like a hero because you ARE! While you will have laid off employees, you also saved many jobs that would have been lost if you did not take the turn around management assignment.
You also saved the capital and sometimes the jobs of the investors of the firm. And you were able to repay the suppliers to the troubled firm. Sometimes these suppliers are sole practitioners and small firms that would have gone under themselves if you did not save your client.
Although there are many downsides to this career, frankly the upsides are so positive that it can make a great second career for an experienced executive. In fact, the pay for your hard work is excellent and probably better than you make today.
So where do you start? Probably the best place is to get a copy of Dan Betts’s The Insider Secrets to Saving Your Business: The Step-by-Step Turnaround Guide. This is the best turn around management guide available. It will teach you everything you need to know to start fixing and rebuilding troubled businesses.
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