When you take over a company that needs a Turnaround or you are with a company and it is consciously decided to do a Turnaround there are some basic principles you want to keep in mind.
First, meet with your front line managers and emphasize two rules for managers …
- Get your job done every day on time. Every day … on time.
- Work together with the other managers.
Commitment to these two rules will do wonders for everyone … the managers as a team … the examples set for all workers … the results for the company.
Second, make sure that when the team wins, everyone wins. Being part of the company … of a team … working together … collaborating together … is what will make you a winner. It takes everyone!
Third, be transparent with your employees … tell employees what’s going on, fully and honestly. It is hard for an employee to do the right thing or suggest a needed improvement if they don’t know what’s going on. Communication is important … communication is a two-way street. You will learn more from the employees than they will learn from you.
Fourth, always remember that customers want dependability and predictability. Your customers want to work with someone who is dependable and reliable. By being predictable, your customers know what to expect and that you are dependable. So simple, but so valuable. It works.
Fifth, remember that almost everybody loves predictability. Customers love you when they know they can count on you … that you are predictable. Think about it … again, it works.
Sixth, remember … if you’re the top guy, then every problem is your problem. So be engaged, involved and in attendance every day. Know what’s going on, why, how, and make sure things work like they’re suppose to based on your position, your experience, and because you know that is what will make the company successful.
Finally … it’s a lot harder to keep things going great than to get them going great in the first place. Staying focused and maintaining a continuous improvement program as the company grows and improves requires constant attention and commitment. To be successful you have to be the leader in making the constant minor adjustments necessary as things change and improve with the market.
I hope these ideas are helpful and make you think of ways you can apply them to your business.
Good Luck and Keep Improving!
What are your ideas for addressing a Turnaround situation?
© Phil Hoffman 2012. All rights reserved
I Am Phil Hoffman 