The beginning of a turnaround in business is not found in growth strategy alone. This is where most businesses fall short within their strategies to save the company.
They usually try to implement growth strategies; which, in a business turn around, are extremely premature. In this stage of the game, trying to save the company with growth strategies will, as stated, fall short of the needed responses financially and productively; in turn, this causes frustration. This, of its own account, becomes another variable to be dealt with. All of us have heard the expression, "Don't let them see you sweat!” This saying is critical when leading others in the right direction. As their leader, we must always be aware of the composer, if our plans are to restore the confidence of everyone involved.
Self-restraint cannot be an option here. You must keep in mind the manner in which you carry and present yourself, for this manner is going to be matched not just by the employees, but by everyone that is directly or indirectly involved in the company. Be very mindful of the manner in which you portray or present yourself to others; it has an impact, beyond
the moment.
Author: Jerry P. Richmond
Editor: J.F. Harl
Thursday, March 11, 2010
Thursday, March 4, 2010
I deal with failing businesses on a daily bases. I have the unique opportunity to witness first hand all the short comings of the previous business owner(s) and their top managements inabilities to plainly see the obvious operational failures staring them directly in the face, mmm, this within it's self could be some of the problem, maybe, they are unaware of the failures, just maybe, they don't know how to fix problems. I have heard it said, that " Anyone can see problems, however, it takes someone with talent to fix problems" maybe I take for granted my abilities or talents in fixing problems, after all, it's what I do on a daily bases. To me there is nothing more fulfilling then to take a bankrupt business and turn her around, to restore the integrity, the profitability and of course the public and employee confidence. The rush is second to none, I love my job.
I would like to leave everyone with this quote, "Businesses don't go out of business because they lost millions, they go out of business because they lose their cents.
I would like to leave everyone with this quote, "Businesses don't go out of business because they lost millions, they go out of business because they lose their cents.
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