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Thursday, June 21, 2007

Turning Your Company Around

Marc Andreessen of Netscape fame has started blogging and has written a series of very insightful posts. Today he writes "A Guide to Big Company Turn-arounds" which reads like a blueprint for how to turn around Yahoo (YHOO).

His advice may also work for small and mid-sized companies that need to take radical steps to turn things around.

According to Microsoft's Don Dodge, the challenges SMBs have during a turnaround are:

  • Small companies don't have the cash flow and momentum to carry them for a year while a new CEO figures out what to do.
  • Small companies require immediate and decisive action.
  • Cash is king in all decisions. Small company turnarounds usually focus on cash and customers first. Small companies may not have 3 to 5 things to promote and 3 to 5 things to kill. (I beg to differ! All companies need to produce that critical "stop list.")

Marc outlines 9 steps to a successful turnaround. His whole post is here.

(Hat tip to Don Dodge at Microsoft for the jump!)

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