Business restructuring represents a way to build a competitive advantage, which is a good thing, very different from the negative connotations associated with the phrase today. When done correctly, business restructuring is transformational; it offers a way to right‐size the company, improve business processes, allocate the right resources against the right activities, and create substantial self‐investments geared toward future growth. To achieve this, one needs to take a holistic approach and executes a rigid playbook; otherwise, one will not see optimal results.