Vantage Performance Podcast

Men are renowned for letting health problems fester before going to their GP to get a problem sorted out. The same applies in business, with directors failing to obtain timely advice that will get their company back on track. In this edition of The Vantage Performance Podcast Michael Fingland, Executive director and CEO of Vantage Performance, takes Phil Dobbie through the ten reasons why directors don’t seek help earlier. And, yes, many of these issues are predominantly male oriented.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Do You Need a Chief Restructuring Officer?Michael Fingland, Managing Director at Vantage Performance, reckons that companies are five times more likely to survive a financial crisis if they have appointed a Chief Restructuring Officer. In this episode of the Vantage Performance Podcast he explains to Phil Dobbie the six reasons why a CRO is so important to turnaround success:1. They buy time and support from key stakeholders to develop and execute solutions.2. They significantly improve cash flow in the first 100-150 days.3. They rebuild trust with stakeholders.4. They are objective, they see through the haze and identify the big changes that need to be made.5. They know of initiatives that management teams are not aware of.6. They know how to "sell" the plan to key stakeholders.If you are enjoying the Vantage Performance Podcast make sure you subscribe on iTunes or SoundCloud.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Web

How do you ensure that your company, if its struggling, comes out the other side as a business that will survive and prosper? In this edition of the Vantage Performance Podcast Phil Dobbie talks to Michael Fingland, Managing Director of Vantage Performance, who provides 10 guiding principles that are crucial to a successful turnaround: 1. One to Two big changes in strategy 2. 100 day cash runway 3. Stakeholder management is critical 4. SCPPE Model 5. USP 6. WHY or Purpose 7. Pay down debt to de-risk the business 8. Strong financial management 9. Maintain focus on marketing, research & development 10. Cultural transformation is criticalDon’t forget, to ensure you don’t miss an episode of the Vantage Performance podcast, subscribe on iTunes or Soundcloud.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

This week Phil Dobbie talks to Michael Fingland, Managing Director at Vantage Performance, about six real reasons businesses fail. Often we blame outside influences, such as changes in market demand or the introduction of a competitor. They can be partially responsible for the collapse of a business but, as Michael explains, many of the failures come from within a business. In this week’s podcast we talk through:1. A sudden impact event 2. Insufficient management training 3. Not acting early enough4. Not collaborating with financiers and stakeholders5. Not engaging specialist advisors6. Not being prepared to make big decisionsWe also discuss Malcolm Turnbull’s proposed changes to the insolvency law with the introduction of “safe harbour defences” to protect directors, and how this will help businesses facing difficulties.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for priva

Key Principles of Successful TurnaroundsIn this podcast Michael Fingland, Managing Director of Vantage Performance, explains key guiding principles that are essential for a successful business turnaround:1. The right strategy, the right capital structure to fund your business, the right people to execute your strategy and the right processes and reporting to know you’re on track. 2. You will need to execute one or two big changes in strategy to make a difference.3. Stakeholder management and communication are critical.4. Develop a strategy to “stand out from the crowd”. 5. Pay down debt.6. Ensure strong financial management.7. Maintain a focus on marketing, research and development.Phil Dobbie talks to Michael about these changes and also asks if confidence can be an issue. If you were partially responsible for the business hitting hard times, are you the right person to build it up again?YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https:

Yahoo CEO Marissa Mayer was widely condemned when she sent an email to her 27,000 employees saying they couldn’t work from home any more. Her argument was that time spent at home was less productive than hours worked in the office.Richard Branson called her decision “perplexing”, given how technology is making remote working easier and more effective than ever.Marissa Mayer raises an important point, though. In this week’s podcast Belinda Wheatley, a HR business partner consulting to SMEs at Vantage Performance, says Yahoo’s CEO has done other businesses a favour. She has raised the profile of an issue that isn’t as straight forward as you might think. Beyond the question of productivity there are legal risks that need to be considered. She explains to Phil Dobbie that working from home can provide lots of HR benefits in terms of working flexibility, but it is a practice that shouldn’t be followed without a lot of thought and a clear company policy.See omnystudio.com/listener for privacy information.

The government-owned State Bank of India has been around for 200 years. It’s incumbency guaranteed it a market share of around 35 percent, until the middle of the last decade when their dominance halved in the space of just two years.The turnaround was just as spectacular. By 2010 it had returned to its previous market position, despite fierce competition from new entrants.Harsh Shah, a client director at Vantage Performance, says the success was all down to O.P. Bhatt, the first chairman in the history of the bank to visit all branches. His key strength was his ability to listen to front line workers, hear their concerns and action changes to fix issues from the ground up.“We have shown the elephant can dance,” Bhatt said of the transformation in a media interview in late 2010.It’s an amazing tale that Harsh Shah explains to Phil Dobbie in this week’s Vantage Performance podcast. It’s a lesson to anyone who doubts the merits of listening to advice from the shop floor.See omnystudio.com/listener for privacy i

The global financial crisis has had a lasting effect – it’s harder now than ever to get a bank loan. In fact, in certain regions the number of approved loans has fallen from 1 in 5 of all applications down to just 1 in 15.Michael Fingland, Director & CEO of Vantage Performance, says banks are just as willing to loan money, but they need to ensure the customer presents them with the core fundamentals of a business plan. In this edition of the Vantage Performance Podcast Series he explains to Phil Dobbie what you need to present if you want to avoid being knocked back.The good news is, the time and energy preparing what the bank wants to hear will almost certainly spin off into positive operational outcomes within your business. You’ll get the money and have a much clearer idea of where you are heading.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

It’s difficult to imagine that we could pick up any management practices from the horrific spate of bombings that took place in Mumbai on the 26th November 2008. Yet, true heroes emerge in the face of disaster. Amongst them, were the staff at the Taj Palace Hotel.The hotel saw six explosions. The staff were able to evacuate guests, with many returning into the building, despite the danger. It was an example of first-class training and commitment that many brands aspire to but few achieve.Harsh Shah, a client director at Vantage Performance, has experienced the customer service at the Taj Hotel Group. In this week’s Vantage Performance podcast he talks to Phil Dobbie about how the company has managed to offer an extraordinary commitment to customer service.See omnystudio.com/listener for privacy information.

Vantage director Richard Dunks wrote recently on the Business Strategy Blog about how to avoid the pitfalls when appointing an interim manager. That’s all fine, but our podcast host Phil Dobbie wondered why you’d want one in the first place – after all, isn’t the idea of a manager that they have a sense of continuity within the business?Well, not so, says Richard – increasingly they’re being hired to deal with shorter term projects where a specialist skillset is needed.In this week’s podcast we look at what type of roles interim managers can fulfil and how you can go about finding them.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

The CFO you have for the best of times is not necessarily the same person to carry you through tough times. It demands a very different skill set. Some CFOs will adapt, but not all.In this week’s podcast Phil Dobbie talks to Barbara Ould, a director at Vantage Performance, who suggests that when times are tough all CFOs need to step up to the plate. They’ll need to demonstrate their strengths with numbers, but equally they’ll have to demonstrate strong people management skills as work to ensure that, at every level, the company is making sensible decisions.Now is the time to ask whether you – or your CFO – will make the grade. If not, it might be time to call-in a turnaround specialist to help manage your financial affairs.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Cash flow forecasting is the Achilles heel of many businesses, particularly in the SME sector.Elizabeth Mawby, a client director at Vantage Performance, has seen many companies outlining cash flows for only a week ahead. She says, to be of any use, companies need to be looking 13 weeks ahead.Putting a cash flow forecast together is straightforward. In this edition of the Vantage Performance podcast she takes Phil Dobbie through her five step process, which looks at:AssumptionsSales incomeOther cash inflowsExpensesBuilding the spreadsheet.Even if you produce a cash flow forecast regularly, it’s worth 10 minutes listening to Elizabeth’s suggestions, in case you’re missing out a vital ingredient. After all, an inaccurate forecast is next to useless.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Often the directors of a business sense there is something afoot with their business operations, but they don’t have a sense of the magnitude of the issue. In this week’s podcast, Elizabeth Mawby says that it’s often a revelation when the turnaround specialists from Vantage Performance present the financial consequences of the problems a business faces.The good news is that normally actions can be taken to remedy the problem. But it takes straight talking and, often, some tough decisions.Listen in as Elizabeth describes to Phil Dobbie the first steps taken in the turnaround process. This vital initial investigation will determine whether a business can be saved and arrive at the best options to take it forward.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

If your business is going through a turnaround it is a time for complete transparency. More than ever before.In this edition of the Vantage Performance podcast, Elizabeth Mawby says that you should be brutally honest when dealing with key stakeholders. That includes creditors, debtors and employees.Elizabeth explains to Phil Dobbie that, whilst you don’t need to lay all your financial details open for inspection, you do need to convince these stakeholders that there is a plan to get the business out of trouble and that they have a part to play in the process.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

This is the first of four podcasts where Vantage Performance CEO Michael Fingland takes us through the process of taking advantage of an economic downturn.In this edition he talks to Phil Dobbie about the need to be prepared. Those that aren’t prepared can easily collapse when there’s a financial downturn. Those that are ready don’t just survive, they can turn the failure of unprepared competitors to their own advantage.This podcast looks at the guiding principles you need to establish, including risk management, stress testing and cash flow forecasts. In the next edition we apply these principles to the development of a strategy for your business.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

Michael Fingland, director & CEO at Vantage Performance says when a business is facing challenges there are usually one or two big changes to your strategy that are needed to get the business on the right track.This week’s podcast is the second in a series of four looking at how your business can succeed in the face of adversity. Michael talks to Phil Dobbie about the need to have a clear strategy that can be summarised easily on an A3 sheet of paper.The strategy should help you to stand out from the crowd. So how do you get to that? Listen in for some clear pointers.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

This is the third of four podcasts looking at how businesses can position themselves for an uncertain economic future.Michael Fingland, CEO of Vantage Performance, says there are many tell-tale signs that we can expect testing times over the next year or so and your business needs to be prepared – either to survive or to capitalise on the opportunities presented by struggling competitors.This week Michael talks to Phil Dobbie about the need to manage your capital more effectively. He says a more efficient way of operating can add several percentage points to your profit margin, as well as freeing up capital to facilitate growth opportunities as they come along.So, what‘s involved in turning around your approach to capital management. Spend 14 minutes listening to Michael’s advice in this edition of the Vantage Performance podcast.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener

People are a vital part of any business. In this fourth podcast in our series looking at how to succeed in adversity we highlight the steps you need to take to ensure staff are involved in your transformation process.Michael Fingland, CEO of Vantage Performance, explains to Phil Dobbie the importance of identifying how employees can make a difference. “Don’t make it artificial” he says. You’ll only see the outcomes if you make your staff engagement genuine.One key element, he suggests, is setting up a staff consultative committee. And there are many more ideas discussed in this 12 minute podcast, so listen in.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.

It’s common for businesses to get so excited about landing a big deal that they gloss over the detail involved in delivering the work. They just look at the revenue, consider their margins and rejoice at the extra money they’ll be making. Then they sign the contract.A big customer will present you with a lengthy contract that has been developed over the years by top class lawyers. The early euphoria can be short-lived when, a short way down the track, you realise you have committed to a job that could send you broke.In this week’s podcast Andrew Birch, a director of Vantage Performance based in Perth, explains that you really need to spend a lot of time consuming the detail of that contract. And, he says, you should be prepared to go back to the customer and negotiate aspects of the schedule if they make the job unworkable or overly risky.Engaging lawyers on your side can push up costs at the onset, but the reward will be worth it. Especially if it saves your business.YouTube: https://www.youtube.com/c/Michae

We know there is no magic formula to running a successful business, but there are some common practises that will point you in the right direction. Most of them can be implemented straight away, it’s just a matter of accepting the need for change.In this week’s podcast Phil Dobbie talks to Michael Fingland, CEO of Vantage Performance about the 10 things he thinks every business can do to improve the way they do business. The upshot is greater employee engagement, improved productivity and a fun place to work. “If you’re not having fun, it’s not a place where people will want to work,” says Michael.YouTube: https://www.youtube.com/c/MichaelFinglandLinkedin: http://linkedin.com/in/michael-fingland-34a09b3Website: https://www.vantageperformance.com.au/See omnystudio.com/listener for privacy information.