This is Part 2 of my series on ‘Leading Through a Turnaround’. Click here to read part 1.
Prepping the Patient
- Get caught in ‘analysis paralysis’. Time is of the essence at this stage. In our current turnaround I realized we had only 30 days in which to look for problems and solutions. You need to move.
- Think you’ll find all answers at this stage. Gather enough insights to formulate a plan, but recognize that you will continue to unearth realities as you move forward.
- Shrink back from hard decisions. Our present turnaround required selling assets, lowering personnel costs and dropping previously important core strategies. Boldness is required.
- Stop communicating with your closest stake-holders; your Board, your advisors and, most importantly, with God. I found that when God needed to speak wisdom into my leadership, He most often did so through trusted friends.
Next time: Turnaround ‘Do’s’ from the Surgery stage!