"Against all odds: The true story of a business turnaround. When everything seemed lost, one bold vision turned failure into triumph.”
"Against all odds: The true story of a business turnaround. When everything seemed lost, one bold vision turned failure into triumph.”
In early 2016, I stood at a crossroads, my path forward obscured by uncertainty. After seven transformative years at a high-tech material start-up, I was part of a dynamic team that turned a stuttering venture into a global household name. We had shared long hours, hard-earned victories, and the camaraderie that only comes from facing challenges together. But now, my journey there had come to an emotional end. Leaving behind friends, colleagues, and the shared vision we had built was gut-wrenching, and for the first time in years, I faced an empty calendar, an uncertain future, and the aching void of missing the people and purpose that had defined my days.
To stave off the creeping aimlessness, I picked up a paintbrush and set to decorating a room in my house. It was a task I loathed, yet it offered a distraction from the silence that seemed to amplify the questions in my mind. The days stretched into weeks, and the monotony of painting walls began to mirror the monotony of my new reality. Each brushstroke seemed to echo the same refrain: What now? I hadn’t realised how much I craved direction until it was gone.
The turning point came as a text message from a friend. Her company was looking for a project manager, she said. The simplicity of her words felt like a lifeline thrown into turbulent waters. With nothing to lose, I dusted off my CV, polished it as best I could and sent it off. Five days later, I found myself sitting across from an interview panel. The panel—a director and an engineering manager fresh out of the Royal Navy—didn’t pull any punches. They grilled me for over an hour and a half, probing every corner of my professional history. Strangely, the absence of desperation gave me a confidence I hadn’t felt in years. I answered their questions with a blunt honesty and flippancy that might have seemed cavalier in another context. Somehow, it worked.
Four days later, I was called back for a second interview with the then-managing director. A week after that, I signed on for a six-month contract. It was a short-term role with no guarantees, but it felt like a step forward—a way to fill the void and rediscover my footing. The group company was growing fast, and my role would focus on readying additional office space for its expansion.
In Waterlooville, Hampshire, office space was scarce, and when the building opposite their headquarters came up for sale, the company moved quickly to acquire it. My first major assignment was tied to this expansion. As I sat in the meeting room, the excitement of a fresh start gave way to apprehension as one of the directors leaned back in their chair and, with casual nonchalance, dropped a bombshell.
“We’ve bought a building,” they said. “But there’s a problem. There’s a company in it. We need you to close the company down so we can convert the space into offices.”
I paused, unsure if I had misheard. Close a company? My first project wasn’t to build or create but to dismantle. I hadn’t expected to be tasked with dismantling someone else’s livelihood. There was no manual for this, no prior experience to draw on, and the weight of the responsibility settled heavily on my shoulders.
The company occupying the building was a small, struggling rubber manufacturer clinging to life by its fingertips. Its owners had just retired and had long since given up hope; they had done well in the past from the business - retiring with good assets and cash to come. In many ways, to this day, I take my hat off to them. However, they left a dwindling workforce that seemed resigned to the inevitable and machinery relics from the dark ages. My job was to oversee its closure and put the final nail in the coffin. I was to begin the following Monday.
As I walked out of the meeting that day, the gravity of the assignment hit me. This wasn’t just a logistical challenge; it was a human one. Lives and livelihoods were intertwined with this failing business, and I couldn’t shake the feeling that there was more to the story than I had been told. I didn’t know it yet, but this struggling manufacturer was about to become the centre of my professional life. It would challenge me in ways I had never imagined and define the next chapter of my career.
I was about to take my first step into the unknown.
I have always had a soft spot for the underdog, so when I came across a book titled Turnaround, my immediate reaction was, "YES!" I was drawn to this book not just because of the title but for what the book represented - the possibility of redemption, revivival, and renewal if we are willing to dig deep and believe even what others have written off. In Turnaround, Stephen Wilde shows that sometimes, all is not lost, even for a business that seems to be on its last legs. The author could not have picked a better title for this book because this was a Turnaround in real time.
I loved the author's dogged determination. He was relentless and resilient, two things that you will need to do what he did with a floundering company. In all the cacophony, Stephen Wilde found a beautiful hidden symphony in a company that momentarily lost its rhythm. Armed with his carefully crafted five-year business plan and determination, the author showed how confidence in a product or company can catalyze change.
Out of the downward trend in revenue, the lack of modern equipment, and the state of the shop floor, the author saw a small glimmer of hope. That was all he needed to dig deep and write the five-year business plan with determination mixed with trepidation. From the stagnation and neglect came brainstorming sessions that led to a company that flourished against all odds. The 252% increase from the 2016 baseline is why this book only needs one word for its title: TURNAROUND!
At just 157 pages, this compact book packs a wallop. Every Business School should have a copy of this unassuming book on their required book list. Turnaround is more than a case study - it is a manifesto for survival that could be the lifeline for any floundering company. Stephen Wilde shows how determination, stubbornness, grit, and gumption can make a huge difference when doing business. From scraping by in 2016 to winning the 2024 Small Business Award for Best Business Transformation, this is truly an inspiration.
I highly recommend Turnaround to any business leader or entrepreneur navigating challenging times.