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I had just gotten the CEO position. The company was bleeding red ink, and we didn't have a lot of time to make changes. One for sure, I needed to complete my own assessment of what was going on. A clear picture of strengths, gaps, blind spots of the organization. "Prescription without diagnosis is malpractice." Here are the steps we followed and turned the company around in 2 years. 1. Do your own research. Organizations which are struggling have a thousand critics and an equal number who feel they have the right solution. The first step is to sort out the noise. 2. Be vulnerable as you research. Set aside your ego, your title, and any arrogance. Be vulnerable if you want people to be open with you.
3. Be absolutely clear what you stand for. Clarity is conviction to your core values and the courage to live by those values as they are tested. Some leaders get their opportunity to lead because of the culture or politics. An unhealthy culture or politically driven leadership will prevent you from doing your own best research. This was my first test. All you need is the courage to live your core values. Magic begins, when you are open and vulnerable. People begin to trust and hope replaces despair. 4. Search for truth. Your diagnosis will be one of the key leadership decisions of your legacy. Get it right from the beginning. If your diagnosis is wrong because short cut research, you may cause more damage and slow the recovery.
5. Find individuals with similar core values. Those who share your beliefs and want to run with you. In our turnaround, we found mid level managers who shared the same values, beliefs and personal drive to turn the organization around. They were from different generations, different styles-some introvert, some extrovert, women proved most courageous and clear. You may have all the right people in the organization now. Maybe the old culture was unhealthy and stifled the values you expect. 6. Decide the top 3 business focus areas. Once you've assessed and diagnosed what is going on...decide the top 3 or
4 critical business measures you want everyone in the organization to focus on. Regulators, owners, employees, and a host of others might see 100 different focus areas. You can't turn the ship around with chaos. One hundred different focus areas mean chaos. 7. Decide the top 3 cultural focus areas. This is the soft stuff, the ecological stuff, the feeling stuff. And the things which probably were ignored in the past. 8. Engage everyone. Engage by asking, not telling. Think of your job as getting 1000 voices to sing on the same song sheet. Sing the same song, with the same rhythm, same verses, and same crescendo. Business transformation works when the majority is on the same page, singing the same song, anticipating the next verse. The song really should be the story of your organization. These steps may sound too simple to transform a business quickly. But follow it, it works and you will see sustainable results.
Krutza and Wiff authors
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Wiff and Krutza Turned disengaged employees into Rainmakers. Inspire More Rainmakers
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