There are many reasons why an organization may require turnaround assistance. Rarely is it due to a single factor. But the clearest sign that turnaround assistance is required is after a steady erosion of your business economics. Profitability continues to decline because revenue increases year-over-year are anemic due to continual price pressure in a mature industry; marketing efforts are not organized and occur sporadically, i.e. the volume of new business, only serves to replace terminating relationships; employment and administrative expenses increase; and, competition is fierce.
Interestingly, the method to redesign a business is the implementation of standard business management "best practices." This manuscript discusses each solution in the context of how it was observed in business.
I have found that small and medium-sized businesses incorporate some of the concepts raised in this manuscript, but not all. However each large Fortune 100 company I worked with incorporated every one of the concepts. These are proven methods of success, to help improve the probability of your success.