A fundamental activity for senior business developers is turning around at-risk or under-performing business units.
Whether through acquisition or the need to achieve organic growth, sooner or later, every business developer will be faced with the sometimes daunting task of turning around a business.
How do you go about it?
Of course, the unique particulars of the business will govern the approach – but in general, the activity needs to be disciplined – number focused (and people-flavoured). The turned-around business either stands on its own, or it doesn’t (keeping personalities out it at this early stage can be most helpful).
Tactically, the approach will follow the 4 step process in the worksheet below (run your numbers!), and involves getting clarity on your current situation (step 1), defining the to-be business (step 2), reflecting-on, and prioritizing the key activities to be achieved (step 3), and assessing the do-ability of turning around performance in the key dimensions identified (step 4).