Perhaps the hardest task any management team can undertake is turning around a long successful company that’s declining. There’s simply nothing easy about a turn-around. The process is always disruptive, often painful, and requires setting a plan and sticking with it, even if it takes time to show results.
A Change Plan
More important, getting it done requires a clear-eyed ability to see the reality of the situation, then assessing what needs to be done. In other words, coming up with a change plan. Once you have that, it’s time to consider who will or won’t be part of that plan’s implementation. In other words, who stays and who goes? Which existing personnel have the skills, experience and even more importantly, the mindset to execute a change plan?
Alan Luce, Co-Founder and Managing Principal of Strategic Choice Partners, shared his key points to remember at the beginning of any turn-around in his guest article on the World of Direct Selling News titled, “‘Turn-Arounds’ Are Hard to Do!”
Be sure to read the full article.
Based on my experience, there are 4 key points to remember at the beginning of any turn-around. Let’s call them my “Top Turn-Around Tips.”
4 Key Points:
- A company’s past success doesn’t always mean continued success.
- Top management’s comfort with and loyalty to the senior staff is often a barrier to change.
- Identifying those within the company who recognize the problems and are ready to enact changes is key.
- All senior management egos need to be “checked at the door.”
Take a closer look at each of these by reading the entire article now at World of Direct Selling News (and be sure to subscribe to their newsletter if you haven’t already).
If your company is at the beginning of a “Turn Around,” we’ve been there. We work alongside many companies in direct selling, helping them make the “Turn-Around” that makes the most sense for their individual situation and culture. We’d love to help you, too. Contact us now and let’s schedule some time to discuss your company and its best next steps into 2017 and beyond.
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About Alan Luce
Alan Luce is a veteran direct seller and senior management executive at major companies like Tupperware and PartyLite gifts.
He was the founder & CEO of Dorling Kindersley Family Learning, which became a $40 million business in its first 4 years. Today he’s a consultant to more than a hundred direct selling companies, from start-ups to major powers such as Princess House, Avon and Amway.
An expert in compensation plans, startup strategies and sales management programs, Alan sits on the boards of numerous direct sales companies. His many honors include induction into the Direct Selling Association Hall of Fame and the Direct Selling Education Foundation’s Circle of Honor.
Learn more about Alan on his bio page, and contact us at info@strategicchoicepartners.com if you’d like to discuss how Alan and SCP can help your company.
HOW WONDERFUL TO SEE YOUR NAME AGAIN–YOU ARE A WONDERFUL L EADER–WAS ALKWAYS SORRE NEIL OFFEN DIDN’T INTRODUCE US.
This is so true and I think it is great to raise awareness of this. Too often we find that companies are hesitant to ask for external advice from consultants who specialise in the industry and when they reach desperation stage they make the call but sadly by then it is often too late to turnaround the business.