How to Turn Around an Underperforming Business - (Breathing New Life into a Business in Difficulty)

When an enterprise is in crisis, all kinds of devastating things start to happen to the customers, to the suppliers, to its finances, to the workers, the managers, and their families. But in a "Satisfactory but Underperforming" enterprise the workers and their managers usually don't notice danger. 

This course calls attention to signs and management steps to avert crisis before it befalls the business.

Course Contents

Day One

Personal Readiness

• The 4-Way Test – Market, Money, Product/Service, People.

• A simple One-Page plan

• Strong cash flow and fortress balance sheet

• Manage cost but focus on revenue

• The team and people empowerment.

Key Value Drivers

• The few critical levers

• Value metrics that really matter – sales force, cost, product design, profit

• The M2P2 Go-Forward plan.

Day Two

Knowing How Much Leverage You Can Handle

• A little leverage

• High leverage

• Sales and profit – cures of woes.

Cost Management Issues

• Cost cutting no panacea

• Control elements and processes

• Obsess with growth and profit

• Focus – obsess with your core.

• Cross-selling opportunities

• Customer traffic.

Day Three

Ideal Organization Structure

• How the chart should look like for the new plan

• Roles needed in the chart to achieve plan

• Types of players to fill top roles.

Create a Culture that Flourishes

• The simple elements of team, innovation, market and process

• Values, beliefs, and unwritten rules

• Leading from the front

• Constant, consistent open house communication

• Articulate behavioural expectations.

Cautions During a Turnaround

• Paralysis of analysis

• Make your mistakes early

• The timelines for turnarounds

• The power of momentum.