TURNAROUND MANAGEMENT CONSULTING
The ship is headed in the wrong direction. It doesn’t have to.
Turnaround Management
In the age of disruption, attacks come in all shapes and sizes: From disruptive startups to self-aware competitors, to fast-moving technology companies, to vertical integrators. As a result, company lifespans have shrunk tremendously. While twenty years ago there were about 9,000 publicly listed companies, today that number has shrunk to about 50%. The likelihood of a company existing five years from now has shrunk from 95% fifty years ago to just 66%. It seems that strategic crises are now the norm, rather than the exception.
When the company reaches a deep level of uncertainty, a turnaround is the only way out. Sidespin Group specializes in startup and SMB turnarounds with many years of experience with top industry experts.
Restructuring
There are times when the ship is just headed in the wrong direction, and the change in direction must come from the outside. External perspectives inject new information into the organization, especially if it comes from experienced experts who have seen many iterations of the same issues. Empowered consultants can review all aspects of a company’s operations and present a holistic view on which a new strategic direction can be based. Sidespin Group has the expertise to recommend changes and guide their proper implementation.
Insights
The Technology Strategy Paradox: Why Those Who Need Consultants the Most, Realize It the Least
In the rapidly evolving world of technology, it is crucial for businesses to stay ahead of the curve. Companies that fail to adapt and innovate run the risk of being left behind by their competitors. This is where technology strategy consulting can play a pivotal role...
Machine Learning Strategy for Small Businesses
Machine Learning (ML) has been in the news recently with impressive new breakthroughs. The technology is transforming how businesses operate. ML is rapidly becoming an important part of the enterprise. But decision-makers at small and mid-sized businesses (SMBs) are...
Why Crypto Lawsuits are on the Rise
The number of lawsuits against cryptocurrency companies reached a new high in 2022. Victims of hacking are using a variety of legal claims to recoup their losses from crypto exchanges, digital wallet providers, and mobile service companies following cyberattacks....
Startup Strategy and Positioning
Startups, more than larger organizations, are in a constant state of uncertainty. CEOs question themselves about the product, the strategic direction, fundraising strategy, hiring, and an endless array of other issues. Pivots are often considered for good reason or out of insecurity. An experienced operator can inject confidence into such a situation and point the way. In addition to bringing an outside perspective, startup consultants have gone through the pains our clients are experiencing. We have the benefit of a startup portfolio that we continuously advise, and have a finger on the pulse of the environment in which startups operate.
Product Positioning
The life of a new product should start with the customer — an idea that is too often lost on technologists. We know: we made all the mistakes ourselves. Success comes from experience, and experience comes from failure. Product leaders can learn from the mistakes of those that came before them, and we are here to show the way. When to fail fast and when to grind through? Is it the product’s fault? Technology? UI/UX? Marketing or targeting? A product can develop in many directions and there is often only a few ways to succeed.
Case Studies
Startup Pivot Strategy
An early-stage startup had trouble getting traction for its fintech security offering and was contemplating a pivot. Our analysis showed that the product was needed by the target customers, but misaligned marketing and outbound sales efforts were at fault for the lack of sales. Instead of going forward with the pivot, we advised the company to 1) validate the pivot idea before embarking on it, and 2) adjust the sales and marketing efforts to better align with the product. Within three months, the company’s sales started hitting its stride, resulting in a $4.5M Seed round of financing.
Turnaround Management
A venture capital fund called us to engage with one of its portfolio companies, where four MIT PhDs had a great piece of technology but also had no sense of direction or product. The goal of our engagement was to identify a market for the technology and structure the company to successfully address the market gap. We were also up against a reluctant CEO, who did not believe an outside consultant could add value. We empirically showed how the existing direction of the company was without merit and explored several new market opportunities. The company’s new direction led it to an acquisition by Facebook, and we received glowing reviews from the CEO.
About Sidespin Group
Sidespin Group provides software experts for litigation support, technology commercialization, investment due diligence, technology strategy, and general software analysis services in a range of specializations, including in the areas of machine learning, telecommunications, and smartphones.
