How to Save a Company
“If you’re the CEO of a struggling business, let’s hope we never meet. I’m Gary Sutton, a turnaround guy. When I arrive you leave. Results usually get better and fast.”
I’ve been revisiting some great books I’ve read over the past few years. One of them is the Six Month Fix by Gary Sutton.
Gary is one of the business world’s most sought-after “triage specialists,” and has salvaged nearly a dozen failing businesses, in nearly every type of company: from printing, waste management, and alarm companies to aerospace, and tech firms.
Some of Sutton’s tips?
- Stop the bleeding – Cut any product & service that isn’t making money, now.
- Specialize or die – Find a niche and focus, focus, focus.
- Nudge up your value – Incrementally create products that provide worth.
- Figure out what business you’re really in – Don’t be the last buggy whip maker.
- Publish your firing policy – Clarity is king.
- Manage from one piece of paper – Simplicity rules
- Kick down the virtual walls – Flatten the hierarchy
- Use the CPA more than your accountant – They aren’t the same thing.
- Convert bleeders into winners – promote off the beaten track thinking.
Gary is honest and offers no holds bared counsel that we all need to hear. His straight-from-the-hip advice is for CEOS who are fighting for their lives.
Put up your dukes.
Let’s do this.
“Somewhere, something incredible is waiting to be known.”
— CARL SAGAN
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