Start Your Turnaround Before the Crisis Hits!

Answering simple but important questions could make the difference between choosing a quick fix or a truly broad turnaround strategy before a crisis strikes.

With a fresh year upon us, business leaders would be well-served to review key indicators and determine whether even short term success may be hiding significant long term problems. It may be time for a turnaround plan, depending how you answer the following 10 questions:

  • Are you continually improving your margins?
  • Are you meeting profit objectives primarily by cutting expenses?
  • Are you growing below the market rate?
  • Are you managing your business quarter-by-quarter?
  • Are you regularly measuring customer satisfaction/loyalty?
  • Are you in demand at industry conferences?
  • Are you attracting top talent to your business?
  • Are you retaining your best people?
  • Are you expanding your community of partners faster than your competitors?
  • Are you improving communication with key suppliers?

If your organization cannot answer these questions, you have a choice to improve your management system in the New Year by including them in a new dashboard. If your answers to these questions raise some concern, they should. The good news is you

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can choose to create a turnaround plan before these critical leading indicators point to a real crisis.