5 Lessons I’ve Learned from Turning Around Businesses

5 Lessons I’ve Learned from Turning Around Businesses

After turning around two businesses and several areas in other companies, here’s what I’ve found to be essential for success:

1. Start with Culture.

The foundation of any lasting turnaround begins with understanding and empowering your people. It’s not just about hitting targets—it’s about creating a sustainable environment where results endure. When people feel valued and aligned with the company’s vision, long-term success becomes a shared goal.

2. Prioritize with Precision.

List all the issues and focus on the most impactful ones. The Pareto Principle is a powerful tool here: 20% of the problems likely cause 80% of the headaches. Focus on those few but vital areas, and resist the temptation to spread your efforts too thin. By staying disciplined, you’ll create lasting change with maximum impact.

3. Be Transparent.

Transparency fosters buy-in. People are smart, and they need to understand why changes are happening and how they’ll benefit. Resistance to change is one of the biggest barriers in any turnaround, but clear communication helps overcome that. When your team knows the “why” behind your actions, they’re more likely to support the transformation.

4. Manage with Data.

Use a structured approach like the DMAIC methodology to make data-driven decisions. Analyzing and controlling your business metrics allows you to track progress and pivot when necessary. Don’t expect to get everything right on the first try. Adjustments are normal, and staying flexible is key to seeing results over time.

5. Reinforce the Positive.

Positive reinforcement goes a long way. Recognizing and encouraging good behavior leads to more of it. Over time, this builds a culture that’s easier to manage and more open to growth. On the flip side, coaching conversations—often seen as “difficult”—are just opportunities to help someone improve. Keep this mindset in mind when tackling underperformance.

I hope these lessons help in your next business turnaround or acquisition. If you have any questions, feel free to reach out. I’m happy to provide more insight!

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