Leading Through a Turnaround: Part 2

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This is Part 2 of my series on ‘Leading Through a Turnaround’.  Click here to read part 1.

Prepping the Patient

DON’T

  • 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!

the author

Scott Cochrane

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