This is a great book on business turnarounds.It is eminently practical, humorous in spots and filled with interesting stories that highlight the advice being given.The author offers 69 small chapters of advice.There's everything from what to do first on a turnaround... to how to get the best price selling your company.Nearly every page is heavily underlined in my book.
The topics that I particularly found valuable were: "Find the margin, cut all other costs"; "Specialize, do it where the margin lives, stop everything else"; "franchising is more about real estate than the business";his chapter on "make what sells" and the importance of low cost and his abundant advice on how to cut costs; his recommendations on increasing price on certain product types; setting your debt levels at the "10 year flood plain" for your company; demoting IT because it operates with its own agenda; stopping the CFO from gambling; cutting down on consultants and moving them over to more of a performance basis... well the topics go on, but you get the idea.
There's lots of advice.It's blunt and somewhat in your face.The text is easy to read and interesting too.There are lots of small stories that illustrate the points.
Overall I recommend this book most highly, not only for business turnarounds, but for any CEO or CEO wanna-bee.It would make a great book to take on business travel and read on the airplane.It's easy to read with the small chapters, and many topics.This is easily a 5 star book.
John Dunbar
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