Ten Warnings of
a Business Turnaround Situation
is a checklist to identify warning signals that a business
is in or is heading towards a crisis state.
Cash flow problems
The business owner might not have a clear report on
nor have a process for maximizing revenues. There could be
in paying bills and meeting salary and other expenses in a
Lack of profitability
The business owner might not have set profitability goals
might not be tracking profits. Or, these mechanisms could be
place, but the business is just not profitable.
Issues Related to
Products and Services
A successful business requires a clear definition of
services it offers. It is a warning if a business owner
clearly define the business, is not monitoring the shifting
demands, and is not offering highly marketable products and
Business Owner has
Weak Personal Foundation
A business owner might have personal problems affecting his
ability to effectively manage the business.
The staff might exhibit low morale, the company might be
best people to competitors, or the overall work environment
be encouraging high productivity from its employees.
It is a warning if the business owner cannot define the
Other warnings are lack of effective communication channels
customers, customer lawsuits, high volume of customer
complaints, a lot
of product returns, and low customer retention.
Business expansions or
alliances that are creating problems.
A business might expand too quickly or into the wrong
might form alliances with companies that are not a good
will not enhance profitability.
Lack of succession
A business might lack succession planning. This is a warning
owned and non family owned businesses.
Lack of business
vision and/or mission
The lack of a business vision and/or mission might be
evident in lack
of teamwork or a weak company culture.
Lack of business
The lack of a business plan with clear cut goals could be
of slow business growth and a strong warning that a
How To Improve
Your Self Management Skills
You are responsible for
everything that happens in your life. Learn to accept total
responsibility for yourself. If you do not manage yourself,
then you are letting others have control of your life. These
tips will help "you" manage "you."
- Look at every new
opportunity as an exciting and new-life experience.
- If you catch yourself
worrying about an upcoming task, go ahead and do it now so
it no longer is a distraction.
- Get into the habit of
finishing what you start.
- Give up "waiting time"
forever. Have something with you at all times to work on.
For example: plan your day, work on a report, or read a
page from your book.
- Be a professional who
exhibits self-confidence and self-assurance in your
potential to complete any task.
- Avoid worry. The majority
of the things you worry about never occur.
- Agree with yourself in
advance that you will have a good attitude toward the
- Hire specialists to do
those things you are not expert in.
- Take a chance-calculated
risks pay off in entrepreneurial progress.
- Frequently ask, "Is what I
am doing right now moving me toward my goals?"
- Plan the future, but live
in the present.
- Make a list of your
accomplishments as you go through the day-they are greater
than you think.
- Keep a time log at least
once every six months to determine exactly where your time
- Do it right the first time
and you will not have to take time later to fix it.
- Practice concentrating on
your work, doing only one thing at a time.
- Accept responsibility for
your job successes and failures. Do not look for a
- Do not view things you do
as a "job." View all activities as a challenge.
- Use your subconscious mind
by telling it to do what you do want. Instead of telling
yourself, "I can't do that very well," say, "I can do this
- Schedule several short
vacations or long weekends-this creates positive deadlines
by when you must have projects done.
- Develop a faster operating
tempo or pace. Do things with a sense of urgency. Get over
thinking you must do everything yourself.
- Take time to be quiet and
reflective for a few minutes each day.
- Live effectiveness in
everything you do rather then just sporadically applying
time management techniques.
- Live in the Now. The
current instant is the only time in which you have
control-not the past, not the future, just now, in this
- Recognize you control only
50% of a relationship and that is your half. If you are
dissatisfied with what is going on, change what you are
doing and saying.
- Give yourself points for
completing tasks on your "to-do" list in priority order.
When you reach 10 points, reward yourself.
- Carry a card with your
goals written on it and review your goals at least three
times a day.
- Act with enthusiasm in all
that you do.
- Take time out to thank
yourself for a good job.
- Practice your personal
beliefs. It may be helpful each morning to take 15 minutes
to gather your thoughts and say a prayer.
- Operate knowing that there
is good in everything. Every cloud has a silver
lining-look for it.
- Whenever you have an
important thought that is not directly related to what you
are working on, write it down. Then you will not forget it
and you also will no longer be distracted by it.
- Make a commitment to show
someone a specific accomplishment on a certain date. The
added urgency will help you feel motivated to have it
- Reward yourself when you
have successfully completed a high priority project.
- Instead of thinking about
what you didn't get done, recognize all you did get
accomplished and reward yourself for having done the most
- Keep a list of
accomplishments as well as a list of "things to-do. You
will learn just how much you do get done.
- Practice self
determination, wanting to do it for yourself.
- Nothing takes the place of
persistence. Practice "stick-to-it-iveness."
- Get into the habit of
writing down a person's name-it will help you to remember
- Believe that you can be
what you want to he.
- Operate on the philosophy
that what we give out is what comes back to us.
- Occasionally, sit quietly
and do a self-assessment of your skills and strengths.
- Praise yourself for your
- Recognize not all days
will go as you desire. Be kind to yourself on days when
your self esteem is wavering. Remind yourself that you are
good and can stand up to any obstacle.
- Never criticize yourself
as having a weakness. There is no such thing. You are only
talking about a present undeveloped skill or part of
yourself that if you so chose, you can change. You do not
have any weakness, only untapped potential.
- Check to be sure you do
not fall into the activity trap of simply doing tasks
without knowing to what greater good the task is designed
- Be pleasant all the
time-no matter what the situation.
- Life is what you perceive
it to be. Do you see it as a bore or as an adventure?
- Recall what you were hired
to do and make sure it happens.
- To get ahead in anything,
operate in the "and then some" manner. Always do what is
expected "and then some," so what you give is always more
than is expected by the other person.
- When working on a project
that you can't stand, do it for a few minutes at a time
until you can't stand it anymore. Then do something else
and come back later for a few more minutes. Keep taking
these bite size pieces until it is completely done.
- Look at what you do as an
adventure. You can discover new things from this new
- Challenge yourself to do
things differently than you have in the past. It provides
new ideas and keeps you interested.
- Finish that last task you
are working on before you go home; do not just leave it.
- Plan your day as you
shower and dress in the morning. Keep a pad and pencil
nearby to jot down ideas.
- Talk to yourself. Self
talk using positive affirmations is something that is
common among all great achievers. They convince themselves
that they can accomplish their goals.
- Practice being punctual.
Others will sense your professionalism.
- Plan, at least to a
minimum, everything you undertake.
- Think it through, then do
- Think of your time as
money. Are you getting a good return on the way you
- Take some time, no matter
how short, every day to do something you enjoy.
- Remember, if you think you
can or you think you cannot, you are right.
- Use the self-fulfilling
prophesy on yourself. Expect yourself to succeed.
- Doing gives you the power
- Whenever you agree to get
back to someone or complete a project, commit to a
specific date by when you will have it done. and write
this in your calendar immediately.
- Think in terms of
- Create your own
"motivation board" by putting up notes of things you need
to do on a bulletin board or special wall space. It is an
easily visible way to see what you need to work on. When
an item is done, remove the note. Also keep your goals
listed and pictured on your board.
- "Ninety percent of success
in showing up."
- Be open and ready to make
adjustments as things change.
- Focus 100% of your
attention on a project.
- Since your boss will be
asking you for progress reports, from time to time, stay
informed by asking your people for progress reports each
day while you meet them in their office or work area.
- Hire an Assistance to run
small errands and cleanup paperwork, etc. Even if you pay
them from your own pocket, it is a good investment because
it increases your productivity.
- Enjoy your life and
blessings. You could be worse off.
- Recognize that even though
you say you are doing something for someone else, in
reality you are doing it for yourself. Since you are doing
it for yourself, you can also enjoy it more.
- Start each day with a
- Your job reflects you. Can
you take pride in it being well done, error free and on
- Do it right or do it wrong
just do it!
- Compete with yourself to
become a little better each time you do something. Achieve
- Streamline your daily
routine to do the same thing at the same time in the same
order. Periodically review for continued effectiveness and
- When responsible for a
project, become intensively involved with it.
- Tell someone else what you
are doing to keep on schedule. It keeps you committed.
- Make each day the best day
of the week.
- Network with others in the
organization to stay informed of who is doing what, when,
where, and for whom.
- Use even small "pockets of
time" to make lists, write notes and consider ideas.
- Consciously decide what
are some things you are NOT going to do.
- Be willing to ask that a
staff meeting be called to clarify a specific issue.
- Purposely schedule
something you enjoy between routine projects. It will help
- Schedule a block of time
periodically to take a big bite out of a major project.
- Realize "energy begets
energy." Act and energy will flow.
- Time your routine
activities such as telephone calls. Determine how you can
"capture" some of the time and use it on other top
- Be a "doer" not a
- Sense the pride you will
feel when you have completed a project.
- "He who kills time buries
- Meditate according to your
personal beliefs at the beginning of each day.
- Create the right "mind
set" for success by adjusting your attitude for the
- Stay interested in what
you are doing. Keep looking for what is interesting in
your work. Change your perspective and look at it as
someone outside your job would,
- Do not get hung-up on
trivial details or tangents. Stay focused and moving.
- Always carry a pen or
pencil and paper on which you can make notes.
- Do not accept calls for
the first 15 minutes of the day while you prepare your
- Contemplating, meditating
on, thinking about, or praying about the activities and
success of the workday focuses energy toward that end
- Nest activities to
available waiting time. Take a bite out of your
- Establish personal
incentives and rewards to help maintain your own high
enthusiasm and performance level.
- Schedule formal planning
meetings with your staff regularly. ·