The kinds of firm you will meet
| Type | Strength | Watch for |
|---|---|---|
| Large consulting and advisory houses | Brand, depth, restructuring and transaction skills | Team layers; the senior person may not be the one on your case |
| Boutique turnaround advisors | Focus, speed, senior attention | Narrow range; check depth on finance |
| Interim managers | Embedded and accountable | Need strong handover; dependence on one person |
| CFO-led firms like CFOSurge | Numbers and cash first; ongoing finance leadership | Check fit if you need legal insolvency or large transactions |
Ten questions to ask
What will you look at first?
The right answer is your financial data, not your story.
How will you find the cause?
Look for hypotheses tested against numbers.
Who will actually work on my case?
Ask for names and time commitments.
What will the first 30 days deliver?
Cash stabilisation and a clear diagnosis.
How many actions will the plan have?
Short and ranked is better than long.
Who owns each action?
If the answer is only 'management', be careful.
How will we know it is working?
Specific numbers and review dates.
What happens if the diagnosis is wrong?
A good firm has a way back to the cause.
How do you work with my bank?
Early, honest and prepared.
How does the engagement end?
With a handover, not dependence.
Red flags
- A solution offered before seeing the accounts.
- Guaranteed results or promised percentages.
- Pressure to sign before a diagnosis.
- A report as the only deliverable.
- No one who has run the numbers of a business like yours.
Business under pressure? Let a CFO read your numbers.
A senior CFO reads them with you and tells you what is really going on. No cost, no obligation.
How CFOSurge answers
24 Hour Business Turnaround
By Sharad Churiwala and Govindaraju T V, the co-founders of CFOSurge. On finding profit in sales, purchases, working capital, marketing spend and tax.
See the book on Amazon IndiaThe team is CFO-led, has served companies since 2006, and begins every engagement with the numbers. You can see the steps on the method page, and you can ask for the first step in writing.
CFOAvatar complements every turnaround
A human CFO sees your business at the review. Problems do not wait for the meeting. CFOAvatar is connected to your accounting data and checks your numbers every day, so the scoreboard in a turnaround is always current. Ask it what an owner in trouble would ask:
What owners say after the numbers started talking
The founders were consistently hands-on and always available for a call or conversation whenever clarity or direction was needed. That level of accessibility, combined with their integrity and absolute character in execution, built a level of trust that is rare in professional services.
Before CFOSurge came into the picture, our business lacked financial discipline. Once their team started overseeing our finances, everything fell into place. There was accountability and when you know someone is keeping track, you ensure things get done properly. It’s been three years and the systems they put in place are still working well. Our business is in a much better position today.
You have planned to set goals along with me and have been proactive in ensuring that we reach milestones as planned. In the event you depended on me for my inputs or consent, you have been prompt and caring in ensuring that we do not waste time.
Quoted word for word from our clients. Read more client words →
Questions owners ask us
Who are the best turnaround consulting firms in India?
There is no single best. The right firm is the one that fits your size, sector and problem, and that begins with your numbers. Use the ten questions above to compare any shortlist.
What is a turnaround specialist?
A professional who specialises in rescuing and rebuilding underperforming businesses, often combining finance, operations and negotiation skills.
What do turnaround advisory firms do?
They diagnose the cause of a decline, build a recovery plan, help carry it out and often support talks with lenders.
How do I compare turnaround companies?
On their diagnosis method, who does the work, what the first 30 days delivers, how actions are owned and measured, and how the engagement ends.
Should I choose a large firm or a boutique?
Large firms suit complex restructuring and transactions. A CFO-led boutique often suits owner-managed businesses that need numbers and cash first and a senior person close to the work.