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Will You Add? - When Good Companies Go Bad, Part 2 - Fear
I can’t afford to retire; I need additional income to support my wife and I in the lifestyle we are accustomed to. Our pensions and savings just don’t do the trick.Sound familiar? Too many people in their fifties and sixties plus are discovering that they need to find a way to supplement their retirement incomes.They don’t want to continue to work in the jobs they have held all their lives. They want to be on their own working from home in their own business.They want more leisure time, more income, and more respect. The good news is they are entitled to it and there are opportunities out there that they can take ad
Regrettably the concern about costs is often a mask to cover other fears concerning Crisis Manager Turnaround specialists:
1. The Turnaround Specialist does not KN
Are you trying to decide on a promotional item to publicize your business? There are a great many reasons why promotional t-shirts fit the bill. Why choose promotional t-shirts as a marketing promotion, employee incentive or advertising gift? Here are just a few of the reasons. High quality custom printed t-shirts are always in demand. Custom promotional t-shirts promote brand loyalty and recognition. Every customer wearing one of your promotional t-shirts is a walking advertisement for your business. 62% of the population own ten or more custom t-shirts, including promotional tees offered by th
Fear becomes a palpable force and constant companion. Customers fear the company will not be able to honor its commitments; the lender fears for his loan; the vendor fears he will not be paid; the shareholders fear loss of their investment; the Board and management fear failure, and; the rest of the workforce fears for its security and future.
As different as these legitimate concerns may be, fear results in certain common behavior:
1. It keeps us placing events and people into categories (boxes)
2. It stops us from leading
3. It stops us from letting go of the past
4. It keeps habitual patterns in place
5. Feelings of failure and insecurity stop us from making necessary changes
6. It keeps us from reaching out for help.
Small and mini-cap companies with sales in the 5 to 50 million dollar range are more likely to fail for want of timely professional help, simply because they believe they cannot afford the cost of turnaround services. This is particularly true for the mini-cap (sales 5-20 million) where management simply knows it cannot afford outside help.
Regrettably the concern about costs is often a mask to cover other fears concerning Crisis Manager Turnaround specialists:
1. The Turnaround Specialist does not KN
Most professionals are constantly developing new skills – usually technical in nature. New technologies are constantly being developed and accomplished professionals have to continually learn to keep up with them. But does learning new technologies give you all that you need in order to advance your career, or are there some other skills that your organization will highly value when it comes time for promotions?Every organization must be competent at three behaviors in order for it to survive. It must have a reason for existing, be able to manage itself, and be able to lead. If any of these behaviors are missing, it will even
As different as these legitimate concerns may be, fear results in certain common behavior:
1. It keeps us placing events and people into categories (boxes)
2. It stops us from leading
3. It stops us from letting go of the past
4. It keeps habitual patterns in place
5. Feelings of failure and insecurity stop us from making necessary changes
6. It keeps us from reaching out for help.
Small and mini-cap companies with sales in the 5 to 50 million dollar range are more likely to fail for want of timely professional help, simply because they believe they cannot afford the cost of turnaround services. This is particularly true for the mini-cap (sales 5-20 million) where management simply knows it cannot afford outside help.
Regrettably the concern about costs is often a mask to cover other fears concerning Crisis Manager Turnaround specialists:
1. The Turnaround Specialist does not KN
Whenever I hear the words “job satisfaction,” I think of the Country-Western singer/songwriter Roger Miller and his song Kansas City Star.As with all good Country-Western tunes there is a simple tune and a simple story involved with the song. The song starts off telling about a letter being received, which contains a job offer. There’s more money, expense account, and a car . . . and what’s more the singer even admits that the offer is for a better job. He turns it down.Now, think of your employees. If they were offered “better” jobs, how many would stay and work for you? What elements make up job satisfaction for that bet
1. It keeps us placing events and people into categories (boxes)
2. It stops us from leading
3. It stops us from letting go of the past
4. It keeps habitual patterns in place
5. Feelings of failure and insecurity stop us from making necessary changes
6. It keeps us from reaching out for help.
Small and mini-cap companies with sales in the 5 to 50 million dollar range are more likely to fail for want of timely professional help, simply because they believe they cannot afford the cost of turnaround services. This is particularly true for the mini-cap (sales 5-20 million) where management simply knows it cannot afford outside help.
Regrettably the concern about costs is often a mask to cover other fears concerning Crisis Manager Turnaround specialists:
1. The Turnaround Specialist does not KN
Corporate crime? I'm not sure that there is such a thing. If we want to reduce the crimes that are given that lable, we need to quit handing out large punitive fines to corporations. The idea isn't as radical as it sounds.First of all, when I say that there isn't such a thing as corporate crime, I simply mean that it is always individual people who commit crimes. With that in mind, you can imagine what my better way to reduce this crime is: Go after the criminals!Who Pays For Corporate Crime?Exactly who pays when a large corporation is fined for breaking the law? To begin with, the stockholders pay. Many of t
6. It keeps us from reaching out for help.
Small and mini-cap companies with sales in the 5 to 50 million dollar range are more likely to fail for want of timely professional help, simply because they believe they cannot afford the cost of turnaround services. This is particularly true for the mini-cap (sales 5-20 million) where management simply knows it cannot afford outside help.
Regrettably the concern about costs is often a mask to cover other fears concerning Crisis Manager Turnaround specialists:
1. The Turnaround Specialist does not KN
The onslaught of people who have recently started their own businesses attests to one thing: people like to be their own boss. This way, if they dislike the person they work for, they can actually do something about it. But, for the rest of us, those of us who are not entrepreneurs or trailblazers of a company, a boss just comes with the territory: having a boss in an office is as essential as having a cubicle.Some bosses are fun, they go to happy hours and pick up the tab. Other are not, they yell at their employees and refuse to throw a holiday party. Fun, not fun, or somewhere in the middle, speaking to your boss can be a bit
Regrettably the concern about costs is often a mask to cover other fears concerning Crisis Manager Turnaround specialists:
1. The Turnaround Specialist does not KNOW the business. In many instances this is true. The Turnaround Specialist KNOWS crisis management and has highly developed negotiating and insolvency skills. As a practical matter he does not need to know how to make widgets, he needs to know how to get the people who can make widgets to do so. He also needs to know how to organize and motivate staff, lenders and vendors to participate in the turnaround. There is no viable substitute for this experience.
2. The Turnaround Specialist does not understand or appreciate our corporate culture. True. Rather than being bound by the problems and constraints that your culture has developed, the role of the Turnaround Specialist is to bring order out of chaos.
3. The Turnaround Specialist has no heart. False. The Turnaround Specialist brings objectivity, focus and control to a chaotic situation. He has been retained to make the hard decisions others evade, avoid or defer. An experienced negotiator, the Turnaround Specialist relies upon truth, be it pleasant or otherwise, to forge necessary alliances with lenders and venders and to restore customer confidence in the organization. He will bring a fresh clinical objectivity to the business of survival with a view to saving the good parts of the enterprise and many jobs. T
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