Core Turnaround Strategy — Telling the Truth, Fixing the Core, and Saving Companies with Walter Simson

"If you can't admit you need a turnaround, you're probably not going to make it." In this episode of Built to Finish, Steven Pivnik sits down with Walter Simpson, a veteran business turnaround consultant with 40 years of experience and more than 60 middle-market company turnarounds under his belt. Walter is the author of the newly released book Core Turnaround Strategy: The Indispensable Restructuring Guide, which challenges conventional wisdom around fixing distressed companies. Rather than starting with layoffs and cost-cutting, Walter advocates for something far more fundamental: telling the truth, identifying the core, and fixing strategy before expenses. Drawing from real-world turnaround stories—including his very first engagement inside his family's business—Walter explains how leaders can diagnose problems through products, customers, execution, and measurement errors, and why credibility with lenders, employees, and partners is the most valuable currency in a turnaround. Steven and Walter also revisit their own past work together, offering listeners an inside look at how turnaround principles apply not just to distressed companies, but to fast-growing businesses that need clarity, focus, and disciplined execution. This episode is a masterclass for founders, CEOs, operators, and investors facing complexity, pressure, or stalled momentum—and for anyone who believes businesses can be fixed when leaders are willing to face reality head-on. Key Takeaways A turnaround starts with telling the truth, not softening the message Strategy issues often hide behind financial symptoms Core products and core customers matter more than cutting headcount first Most struggling companies suffer from strategy, measurement, or execution errors Credibility with lenders is built by transparency and "showing your work" Turnarounds require partnership—between leaders, teams, and financial stakeholders The right team includes people beyond the executive suite Sustainable recovery comes from clarity, focus, and disciplined follow-through Connect with Walter Simpson Book: Core Turnaround Strategy: The Indispensable Restructuring Guide https://a.co/d/04m8iPY https://coreturnaround.com Firm Website: https://ventorconsulting.com Email: [email protected]