Of course, you have. We all have witnessed this scenario. The banker is unhappy with the “problems” at the farm site, and one of the partners looks at the others and says, “You got us into this mess. Now, you can get us out of it!”
As I saw in a recent YouTube video, it’s time to quit playing the “Blame Game!” Instead of acting like the U.S. auto industry of the 1960’s and 1970’s, where every problem was considered someone else’s fault, until the Japanese practically overtook the entire industry, let’s try another approach to turnaround situations.
While it’s always better to avoid banking & financial problems because no one enjoys them, we need a system to do so. In every one of my 73 financial turnarounds to date, at least one item needed to be improved. Usually, it centered around a “lack of communication” between the partners, owners, managers, vendors &/or bankers…
My recommendation? Instead of playing the “blame game,” why not do the following? Meet regularly and discuss your challenges. I’ve met with every one of my Clients each month for the past 23 years. Believe me, that’s a lot of meetings, but you know what? They have kept each other better informed, and, as a result, been in a position to make more informed decisions. Did we get every decision correct? Probably not, but just like in Major League Baseball, if your batting average is high enough, you will succeed and probably participate in the All-Star game!
When you meet, always, always, always have an agenda! Not a hidden one, but rather, one that keeps you all on focus throughout your discussions. Tangents are so easy to get caught up within, and they are never productive…
Focus on one item at a time, if possible, and find a solution. So often, we (and sometimes bankers, too…) want to solve five issues at once. However, this process will dilute your focus and delay your progress on any of these challenges.
My experience has been that, once I get the biggest problem solved and stick to the process, the others start to look less intimidating. My advice to you is this: As Author Brendon Burchard so often states: “Honor the Struggle.” I think you’ll be glad you did!
Let’s take your business to the Next Level!
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