I have yet to enter a turnaround situation that I didn’t hear the owner or CEO or the board say that the answer to all of their problems is more money. While in some cases this is a real need, it is seldom the systemic problem within the company. Chances are that they have some work to do. Needing ‘dollars’ is one thing … being ready to raise ‘dollars’ is another.

There is an abundance of funding available in the marketplace for good deals. The key wording in this statement is of course “good deals.” When a company is in trouble rarely is it considered a good deal without some fixing.

Don’t be surprised when you come to the realization that the company isn’t attractive to investors or lenders. This means that you have the opportunity to rebuild the company, or parts of it, so that it can be considered a “good deal.” Build a company that investors want to invest in.

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TNP: Why look at employee motivation and engagement?
Scott: The purpose of business is to make money, right? To make money you need customers, products or services, a strong value proposition, and an ability to deliver on that value proposition. Productivity and profitability rarely (if ever) occur without an engaged and motivated workforce. Success is dependent on it.

TNP: How do you define employee motivation and engagement?
Scott: Employee motivation is what draws an individual to their work and workplace or what personally stimulates them to high levels of performance. This is unique for virtually every person, and is much more internally driven. Leaders who know how to motivate their employees know how to sync with those employees’ internal drive. Engagement is essentially external elements that connect or involve individuals with outside stimulus. Engaged employees are attentive, they contribute, they are stimulated, and they show care for what’s happening. The outcome of both strong engagement and motivation is higher productivity and profitably. These things should matter to every company.

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The regular football season recently ended and we, once again, witnessed the annual parade of head coach beheadings. Whether or not you participate in the debates surrounding these firings, it’s hard not to be fascinated by the high profile nature of these events.

However, away from the spotlight similar unceremonious leadership changes are common. A company’s stock falls and the CEO is ousted, a television station’s news ratings declines and the News Director is let go or in-store sales are flat for a national retail chain and the CMO is released.

So what’s the problem? Shouldn’t poor performers be shown the door?

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A Proper Mission Statement Provides an Understanding of Future Growth Directions

Does your company have a mission statement? If so, feel confident in knowing that the company is in a select group of companies that have engaged in this forward-thinking activity.

But what good is a mission statement if it’s not put into practice? When was the last time you read your company’s mission statement? What did it say to you? What do you think it conveys to others?

A mission statement must spell out what your company does and where it is going. The answers to these questions are supposed to inspire and guide you and your employees every working day and hour, whether your business is coming up ahead, lagging behind, or just sitting in the middle.

Mission statements often come up short, like this nebulous one: “The mission of our company is to provide excellence and quality for all of our customers.”

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