A Vistage speaker told my groups that “the second worst thing that can happen to company is success.” No business is an annuity, and no strategy is eternal and no product or service is invulnerable to competition.
Those who forget this often end up running a “turnaround.”
Vistage Chair and merger and acquisition expert Mark Taffet suggests that maybe the best way to avoid ending up running a turnaround is to run your business like a turnaround before it is a turnaround.
Mr. Taffet has penned a three-part series on the Vistage website (available to non-members, too) on managing your business the same way.
Check out Part 1 of his three part series: “Run it like a turnaround (before you have to)-Part 1: Generating Profits.”
