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Name of author Rick Baker, P.Eng.

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Thought Tweet #828.5

by Rick Baker
On Sep 18, 2013

Thought Tweet #828.5 You don't have to believe in gravity to fall and land on solid ground.

 

The Thinking Behind The Tweet

Gravity is a magnificent facet of Nature. And yes, it causes us to fall when we misstep.

And let's not lose track of the fact Nature also provides us solid ground...so we can stop falling, pick ourselves up, and start again.

Tags:

Attitude: Creating Positive Attitude | Thought Tweets

Thought Tweet #828

by Rick Baker
On Sep 18, 2013

Thought Tweet #828 Failure to spend up-front time building a succession plan that incorporates other people ensures two problems. 


The Thinking Behind The Tweet

  1. When the succession plan is built it will be built under stress, maybe even duress.
  2. The resulting value received from the business, if any, will be minimized.

Tags:

Business Plan: Writing Plans | Succession | Thought Tweets

TurnAhead - repairing a damaged business, taking a business to the next level

by Rick Baker
On Sep 18, 2013

Some businesses have slipped away into unprofitable territory.

Some businesses have taken a serious hit and are sinking.

Some business are doing OK, but/and face an opportunity to climb to the next level.

Some of these businesses will gain advantage under a turnaround; all of these businesses will gain advantage under a TurnAhead

What's a TurnAhead?

The first step in a TurnAhead is getting control of Cashflow and tied to this, solidifying Gross Margin. With the 80/20 Rule in mind, what things have the greatest impact on Gross Margin - particularly, what Revenue pieces have the greatest impact on Gross Margin? Focus on those pieces. Solidify them. Expand them. Duplicate them.

This first step involves clear and accurate communication with the most-trusted people available in the organization. This means a series of simple questions followed by simple answers. Questions beyond simple ones are the wrong questions. Answers beyond simple ones are signals of confusion and unhelpful thinking.

The roots of big problems are simple roots.

The keys to big opportunities are simple keys. 

The challenge you will always face is: simple does not mean evident or obvious...in foresight. Simple means simple in hindsight and, if you are really skilled, simple means common sense in real-time. 

So, when you are working on a TurnAhead:

  • concentrate on trusted people who think accurately,
  • focus on Gross Margin and Cashflow,
  • ask and repeat simple, clear questions, &
  • act only on the simple, clear answers.

Tags:

Leaders' Thoughts | Questions?: The Art of Asking Good Questions | Seeking Simple!

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