Lee is a corporate turnaround professional. Which is why you don’t want to have to hire him. It would mean that your company is going down the tubes with issues that you have not been able to properly address, and he’s going to come in and either turn your business around, or shepherd you through bankruptcy.
Lee pulls off a really direct and clear synopsis of the main challenges he runs into in his job, challenges that any business owner may face at some level; some of the stuff he talks about even applies to little old sole proprietors like me (full disclosure: I indexed this book. Nobody pays me to review, however, so these are just my impressions as a reader). That was a surprise.
Yep, he talks about bigger company problems like fraud, but what I found valuable was his emphasis on things that affect every business, no matter the size: character and relationship issues. Most of the time, Lee is called in because somebody in charge can’t “leave their ego at the door.” A CEO gets all caught up in what’s worked for them and then when circumstances shift, they can’t face the problem to solve it.
And Lee doesn’t stop at the fixing-things-that-break point; he’s got plenty of guidance on how to avoid a crisis in the first place. Foremost among his tips is a focus on relationships; with customers, bankers, and vendors alike. Neglecting honest communication with any of these three key players is a recipe for disaster.
But beyond the big themes, I had a lovely takeaway with Lee’s gorilla metaphor for that client that you rely way too much on. I actually went and did some calculations to see if I had a gorilla client whose loss would put me in big trouble (answer, no, but not by much–relying too heavily on two clients, probably).
So, a great and valuable read (find it here at Amazon), no matter what size your business. Following Lee’s advice will definitely save you in the long run, and you’ll never have to meet him except to have him sign this book!