If You’re Going to “Fix the Company,” Start Here – (Insight from “The Entrepreneur’s Godfather”)

Here’s the process. It’s simple… not easy, just simple.

This comes from a Business Consultant in the Dallas area, Charlie Bahr (“The Entrepreneur’s Godfather”). He is brought into companies when they are in need of getting things “fixed” — he’s brought in to “fix the company.” His work falls under the category of “turnaround” work, but that, like so many other business phrases, has become re-defined and mis-understood in so many ways that it’s lost some “punch” as a term.

Now, about those companies that need some fixing… I think there may not be much of a shortage of such companies.

Here’s his process:

Step #1 – Identify and define the problem. Accurately identify and define the problem.Find the problem

Yep! This is critical – truly critical. You can’t fix a company until you know what’s wrong with the company.

There may be a slight tendency for some to peddle solutions that are sort of “over the counter,” maybe designed for other companies with problems that are not exact matches to the current problem, without spending adequate time asking – what is this problem?

It does not help to provide solutions that are not the right fit for the particular problem at hand.

Step #2 – Make sure there is genuine internal, shared desire to fix the problem.

You know, Step 1 of the Twelve Steps – “Hi, my name is, and I agree we have a problem; in fact, we have this specific problem.”

Until everyone in the company, with genuine alignment, is on the same page with full buy-in regarding the problem, no inside plan, or outside consultant, can do much at all.

Step #3 – Then, and only then, find the solution and start implementing.

And, one big, big warning – if you get there late, it may be too late. (Think BlackBerry in early 2007; too late!)

Thus, maybe the #1 need is to get involved early.

Charlie ended his description of how he works this way: when he works with a client company, he says:

“We’re here to have some fun
make some money
do some good.
All three together.”

This process sounds wise and “right” to me. What about to you?


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