Friday, March 27, 2009

Get Help to Increase Your Corporation’s Value

With the right kind of specific help, private company CEOs and management teams can be even more effective at improving profit, cash flow, and market value.

Get the benefit of someone experienced with turnarounds and business improvement, who will share insights learned from years of playing the “greatest game.”

In “the fog of war,” it helps to have a variety of past experiences to draw upon. CEOs can use the insights of a former CEO to do better under fire. Accumulated wisdom can help identify the few most important decisions to be made out of the many. Start improving leadership and organizational culture. Trust, but verify; question collaboratively; challenge supportively; experiment and fail fast; focus laser-like on what matters most.

Someone who has worked closely with technologist geniuses, scientists, mathematicians, electrical and mechanical engineers, and a host of other professionals and all kinds of workers has unique perspective and valued insights and can add fresh, creative thinking to almost any business.

Get someone who will study the business, who will focus ON the business, to improve how the business works, to improve its value. People working at or in the business usually know where it hurts, but can use help with clarification, diagnosis, treatment options, and follow through to make things better. The right person will help the team get everyone more focused and motivated to generate more cash and increase overall value – selling better, fulfilling better, improving quality, reducing costs – doing more to bring out the best in each person, improving capabilities and contribution.

You want this person to be capable of fostering thoughtful problem-solving for improvements in the business model, strategy, marketing, sales, fulfillment, operations, products, services, quality, finance, and every other vital part of the business. You may need help to clarify and instill an updateable improvement vision in the minds and hearts of everyone needed to bring it about, for the benefit of all participants. Like in sports and medicine, vital core metrics may need to be selected to set goals, measure progress, and fulfill the vision.

The improvement vision may include one or more bold strokes, a series of vital drives, and/or many small advances. Effectively instilling the vision stimulates actions to fulfill it. Focused persistence on what matters most brings it about. Leadership can always be improved, operations strengthened, organization developed and staff better trained, products improved and better ones developed, sales and profit increased, all to increase profit, cash flow, and market value. Putting combined insight and energy to productive and efficient use produces desired results.

A facilitating, expediting leader adviser can help follow through to improve things, to achieve goals, and bring about the desired vision.

In the process, and as needed, at the appropriate time, the team will:

1. Review the business model, cash flow, P&L, balance sheet, etc. to pinpoint focus points, explore options, and follow through with positive action.

2. Clarify what is needed to improve confidence, credibility, communication, and innovation for mutually improved relationships with customers, employees, and suppliers to increase the financial value of the company.

3. Connect the dots on how each person affects results, using practical metrics to achieve goals; improve business through better information sharing, problem evaluation, research, planning, target setting, incentives, etc. – to fire better on all cylinders.

4. Clarify priorities and how better to organize and follow through to achieve them.

The team will look for areas of frustration or vagueness, and other red flags, to clarify and prioritize improvement opportunities.

Leaders will spark initiative by asking: “What would you change or improve? What help do you need? What’s the next step?”

Like a team of business doctors bent of getting the best results through careful observation, listening, questioning, and root-cause diagnostics, with an eye to prevention as well as cure, desired goals will be achieved for greatest gain.

Each situation is unique and the approach must be customized according to discernment of need and opportunity, based on combined experience and judgment, adapted to changing circumstances and priorities.

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