In the first 72 hours, don’t try to be clever — focus on seeing things clearly.
When you’re in a turnaround situation, clarity is your greatest asset. Here’s where I start:
I look at cash reality. This means understanding the current bank balance, what payables are due and when, and the timing of payroll.
revenue reality is critical. It’s about knowing what has actually been sold versus what is collectible.
there’s delivery reality. I want to know what projects or orders are in progress, what’s stuck or delayed, and what is blocking cash flow.
leadership and customer reality. Who owns what? Where is dissatisfaction building — either internally among the team or externally with customers?
It’s important to remember that turnarounds follow a sequence. You only earn the right to strategize after you stabilize the business.
What can you do today? Pull reports on bank balances, payables, receivables aging, and work in progress. Identify the top five items blocking cash flow. Then assign clear ownership and set firm deadlines right away. It might feel uncomfortable, but accountability is critical.
The first 72 hours are all about building a crystal-clear picture so you can take decisive action next.