There is always the potential for a business, a project, or even a personal situation to run into difficulties. In the business world, a frequent answer when something goes wrong is to call in a turnaround CEO to fix it. Using well-tested techniques, their goal is to quickly diagnose underlying problems, correct them, and return the business to solid performance.
This week, consider delegating a broken situation you have to a turnaround CEO and let them take a run at fixing it. Try to generate three new turnaround ideas for each item below as a turnaround CEO would:
- Identify the most critical problems
- Bring in unbiased consultants to help fix things
- Make fact-based decisions
- Look for smart & simple steps to take right away
- Bring in their own people to run the company
- Ask lots of questions
- Cut costs in a dramatic fashion
- Uncover hidden problems in the business
- Secure needed resources
- Write off bad operations
Note – for the previous post on how to use the Change Your Character technique, click here.