I started my career in business turnarounds in the 1970’s when I worked for a company whose business it was to buy and “refurbish” distressed businesses and resell them. DeathCare is in need of a turn around. There are different types of turnaround strategies and turnaround strategists. Many are simply liquidators who cut costs so drastically that the already wounded patient has no choice but to be sold for parts. But the truth is most businesses can be saved if you are willing to do the work.
I became aware of Jack Stack and his Game of Business in the late ’80’s. He is a savior not a liquidator. Saviors save jobs and businesses and investments. I found early on by luck and prayer that the fastest way to rebuild your business is to engage your employees. They know where the waste is, they know what customers really want and, if they really trust you, they will tell you where you might be going wrong. That is not to say that you should abdicate your role as leader and expect staff to run the place. It’s not that easy. Rather, it means engaging them to give you feedback and input and weighing that input with other information to decide what is the best thing for the firm at this moment.
Watch this 6 minute video, it will encourage you. But one last note of warning: if your financial reports aren’t in order or you don’t understand them or they aren’t timely don’t even start.
Enjoyed this video. I had let employee in on some of the finanicals and you will find less receieviable and awaitness on cost of puchases. It works! Thanks Alan