Langworthy Company
Sales & Business Improvement Consultants
management - sales marketing - evaluations - training

Revised:  01/13/2010

"Since 1983, Langworthy Company has been diagnosing illnesses and prescribing remedies for ailing area companies."
    Small Business News
     Cleveland, Ohio

Services

	Mgt. Consulting
	Sales Consulting
	Strategy Advice
	Strategic Planning
	Marketing &  Corp ID
	Merger/Acquisition
	Company Evaluations
	Turnaround mgt..
	Training On-site
	Training Products

"Becoming a good
manager is not an
event but a process"
     Dr. Kenneth Blanchard

"People don't resist change, they resist transition."
    Dr. William Bridges

Situation: A manufacturing company in the polymer industry was under a forbearance agreement with lockbox. The bank was contemplating calling the loan. The company was struggling to operate and was COD with most suppliers. Quality was marginal and post production labor costs excessive. How We Helped Joe Langworthy spent 24 hours each week (parts of 5 days) running the company for the stockholders. We were able to get the current lender to provide an additional seven months to establish a new banking relationship. Payable schedules were reworked so that the company could keep payment promises though amounts were reduced. Financial analysis revealed what we the most profitable products. Salespeople began to communicate with prospects that purchased these high profit niche market products. Low morale, infighting and high turnover were minimized and workers began to work as a team to stop severe quality, production and QC issues. A plan to obtain raw materials and met customer delivery requirements we implemented. In five months the company was breaking even and had captured several new accounts. Two major customers who had threatened to leave remained and placed new orders. A risk oriented Asset-based lender agreed to take the former bank out and provide sufficient working capital. Obtained manufacturing machinery, which allowed faster production, reduced scrap and reduced costs because equipment-leasing companies were no longer hesitant.  After 1 year: The company was profitable. A new bank was providing financing and working capital. Sales was capturing new business. Customer attrition was minimal. The company had a positive "book value." CONTACT US FOR ASSISTANCE

CALL OR EMAIL US FOR MORE INFO

About how we helped these clients and could HELP YOU.

Telephone

330-477-5271

FAX

330-477-9944

Postal address

Langworthy Company Consultants
3496 Cornwall Drive NW, Canton, Ohio 44708-1154

Electronic mail

General Information: information@langworthycompany.com
Consulting Services: jlangworthy@langworthycompany.com