Tomorrow is calling for all companies....

• Some companies will fail
  
• Most will bump along
  
• A few will become outstanding

The existing management of a troubles company believes that is has done all that can be done. When management believes this to be true, their objectivity is compromised. A slight increase in sales and/or cash flow is misconstrued as a harbinger of success. This situation is so pervasive, and can be argues so eloquently, that it may mitigate against bringing in a turnaround specialist.

Troubled companies have common ailments.

• Too many products that do not generate profit
• Poor average gross margins
• Bloated overhead
• A preoccupation with volume at the expense of profitability
• Indecisiveness driven by fear, with a reluctance to abandon old products and systems, and a prosperity to embrace fads
• Yesterday's management training techniques for yesterdays technology and business
  

DECISIVENESS

All decisions must be implemented quickly, effectively, and ruthlessly in order to achieve profitable results. This position requires a salvage operator, not a consultant.

EXECUTION

There is no time for nonperformance in a turnaround. The interim CEO implements change to get results. Delay and procrastination are fatal.

Problems start at the top with senior management accepting mediocre results sanctioned by the board's acquiescence. As a consequence consultants are retained to draw up plan after plan - but somebody must execute; somebody must manager; somebody must be responsible!

INTUITIVENESS

As the person in charge, the interim CEO must have a sense, a gut feel, of what to do and what not to do. There is no time for prolonged analysis and details.

EXPERIENCE

The interim CEO should be a hard-nosed, results oriented over achiever with an impressive record of significant turnaround accomplishments. Few people have successfully done this type of work although many say they have.

PLANNER

A successful turnaround plan Is brutally realistic. A plan must be developed, must be nurtured, and must be Implemented expeditiously. Deviation from the plan will not be tolerated. The plan must be followed without fail, or until events and/or new information justify changes; otherwise the consequences are inevitable terminal.

To contact Mr. Carter, or to inquire about booking him for your next seminar please send an e-mail to: 

bcarter@productivitynetwork.com

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