In this episode, Byron discusses:
- Knowing how long of a runway you have before the end.
- What to look for in your P&L analysis.
- The timeline of the progression of your turnaround plan.
- Knowing what to trim and what to keep.
The 5-Step Progression of a Turnaround Plan
- Cashflow runway
- Analyze P&L - historical and forecasting
- Create and execute a rough turnaround plan
- Finetune your turnaround plan
- Optimize and simplify the business
"You should be making your monthly salary - step one is to get to breakeven, but when I say breakeven, that is you getting paid as the owner." — Byron Walker
Connect with Byron Walker:
Website: TheTurnaroundPlan.com
Email: Byron@SurvivalFrog.com
LinkedIn: Byron Walker