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More Best Practices in a Turnaround Process Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Here are more best practices to apply in your turnaround process: Consider options that go beyond the current resources in the business.\xa0 Consider bringing in additional team members and outside funding. Get multiple views of the company from the team and investors to build a more holistic plan. Use multiple touch points and formats to gather information from the team. This includes not only formal meetings but also informal meetings, calls, and offline discussions. Review the customers\u2019 situation to see if the company\u2019s offering still meets their needs. The customer\u2019s requirements may have changed due to the market. Look at competitors who are successful to see what can be learned from their pricing, positioning, marketing, and strategy. Consider changing the business model to fit the customer better. Recurring revenue and pre-payment business models can also improve the financial condition of the business. Consider changing the product altogether to capture more revenue. The product may be outdated or undifferentiated in the current market. Consider initiatives to reduce the operational cost by going paperless and speeding up cash collections. Automation and improved financial payment tools can decrease costs and improve cash flow. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .