A turnaround specialist is a professional who helps struggling businesses improve their performance and regain profitability. They assess the company's current situation, identify problems, and develop strategic plans to address these issues. Their expertise often includes financial restructuring, operational improvements, and management changes. These specialists typically work with companies facing challenges such as declining sales, cash flow problems, or increased competition. By implementing effective solutions, turnaround specialists aim to stabilize the business and set it on a path to long-term success, often collaborating with existing management and stakeholders throughout the process.