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Wednesday, July 2, 2008

Change Your Character - Fixing Problems as a Turnaround CEO

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.

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