Turnarounds involve troubled business situations. The business is either on a downward spiral, it has had a crisis that it is not handling profitably or well or it has it rock bottom and there seems to be no hope in sight for its survival. In these situations, there are enormous opportunities, if the managers can save the business.

Making a turnaround work, however, requires successful management (including the skills discussed throughout Cooke's Law), skillful maneuvering, adroit negotiating skills, political savvy and tough decision making. In the next several years, watch to see which dotcom managers have these skills and which do not.

Turning a business around also involves preparation and keen analysis of the problems.

As an example, several years ago, Mr. Cooke began working with a client that had recently purchased a small company. In analyzing the business, Mr. Cooke and the client determined that the business was renting too much space for its needs, paying too much money for space and that several sales people were not performing at even half the level that was needed. The beginning of the turnaround involved reorganizing product areas and consolidating these areas under fewer sales people, re-negotiating and restructuring the rental situation in order to reduce overhead and obtaining lines of credit for short term financing.

The client's company was able to stay in business.

You can reach Mr. Cooke at (312) 497-9002 or by email at "gc@Cookeslaw.com".

Mr. Cooke's fee is $300.00 per hour.