3 Key Steps For a Successful Turn Around

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Successful leaders know their job is to ignite cultural change to launch a turn around, (then to get out of the way and let it happen).

Corporate “turn-arounds” are about cultural change!

There are a number of pieces that will have to fit together, but if the culture is not changed, they will soon wither away.

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Culture is the glue that keeps the pieces from popping apart!

 

 

The mechanics of a corporate turn around, are fairly straight forward:

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Transition – One More Challenge for Small Business

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Optimizing Performance Through Transition Performance against peers is as important for start-ups as it is for companies that have hit their stride – even more so when they have to compete for investment capital. Performance must therefore be assessed, not only against stated outcomes, but against performance of the sector. Transition_image_2_for_blog_April_1,_2105 Expectations and the rigour with which performance is measured will increase as companies grow. Start-ups are not expected to have the same expertise as capital seekers. Then again, in each sector, the 80/20 rule will apply. For any sector, there is only room for one or two top competitors. Therefore, no matter what stage the company is in terms of its development, it must seek to excel if it is looking to grow further. Transition_-_image_1_for_blog,_Apirl_1,_2015 If you found this information helpful, please read the full Position Paper from Upturn Consulting: Transition, One More Challenge for Small Business                                        

Do we have the right tools to add value – a question for boards to consider

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How can the board say it added value if the organization is not worth more today than it was last year?

Over the past decade shareholders are turning to rating agencies such as Institutional Shareholder Services for performance assessments of individual directors. The assessments go beyond attendance records and listing committee memberships and are getting to the heart of the question – did this director add value?

Shareholders of public companies can now assess whether individual directors performed well. But what if your stock is not publicly traded? How can the board convince you they worked in your best interest?

A Board Value Added Test may be just what you need.

Assessing board performance must go beyond asking – did we get the basics right

Shareholders and other stakeholders always have the right to ask – has the board delivered? The best way to respond is to show how the board added value.

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If you found this information helpful, please read the full Position Paper from Upturn Consulting: Do We Have the Right Tools to Deliver Value?

A New Look at Board Evaluations

 

 

The Minimum Viable Product

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MVP – Minimum Viable Product – Your Most Valuable Player The Minimum Viable Product or MVP is integral to LEAN development. It is the best way to clarify what should be taken to market. That is helpful when it comes to explaining the new product to potential customers. It is also an important step in ensuring that the basic value proposition is understood. If customers indicate they would be interested but only if certain features were added, that’s a positive signal because additional features can always be added. Additional features are just that. We’re interested in testing to see if the basic product concept and initial value proposition resonates. We’re also interested in understanding what assumptions we’ve made in concluding that the product will actually meet a need and whether potential customers agree with our thoughts on what constitutes the value proposition. The MVP gets to the guts of the issue as to whether the core features are of interest, and which of the basic underlying attributes of the offering may need to be rethought:

  1. Were we right in our assessment of the kinds of customers that would be interested?
  2. Do potential customers agree with us in terms of the problem to be solved and whether
  3. the product will actually help to solve it?
  4. What have we assumed that was on the mark, and which assumptions were not?
  5. What changes should be considered?

Lean_image_for_blog_April_1               When MVP’s are presented, there are three possible outcomes – a high level of agreement, a partial level of agreement and a clear indication that we missed the mark. Not every potential customer will agree with the basic value proposition. It’s important to set some response criteria to assess whether there is enough support to move forward or not.

If you found this information helpful, please read the full Position Paper from Upturn Consulting:  Starting Out LEAN