As a CEO, are you managing the WHOLE checklist or doing only what you wish to do?
Patrick Rettig, CEO of the RETTIG CORP., joins Rick Brutti and Mario Castañeda on MYOB 03/08/14
Mind Your Own Business Radio. Patrick is a Top Turnaround expert in America. When turning around a company, he says it’s all about the CEO. He enters the company and goes directly to the CEO. The idea behind this is that if the CEO can get back on track, the rest of the company will get back on track.
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Patrick Rettig is on “Mind Your Own Business” with Rick Brutti and Mario Castañeda
Top turnaround expert Patrick says it’s all about the CEO when turning around a company. He enters the company and goes directly to the CEO. The idea behind this is that if the CEO can get back on track, then the rest of the company will as well.
The first step is to find the origin of failure. This might take a while and often isn’t visible until the end. In order to do this, Patrick says he needs to get the CEO out of the office, talk to them about their dreams and goals, and find out why they started or got involved in the company in the first place. Once you can get the inspiration back, the rest becomes easier.
Rettig focuses on the critical profit by examining the critical things you need to pay for. This includes things like your family and spouse, as well as your house and car. Patrick helps to analyze the hard costs that it takes to get through the day. The critical profit is, therefore, your hard costs plus a dollar. Eventually the profit will increase, but this is the first step.
Another key point is not to focus on the future, take things day by day and focus on the now. Take care of your current problems. By first having a secure foundation you are setting yourself up for a strong future. Because long range plans can be dangerous, you should look at things two weeks at a time to meet your first and fifteenth of the month deadlines.
Take care of your current problems.
Patrick tells people who have a hard time with change that if they knew how to fix their own problems, they would have done it already, and there would be no need for change. It is a delicate matter but most people will eventually come around and see that they have no choice but to change. Once the positive changes start happening, the CEO begins to reestablish a relationship with the corporation and its needs. They will then start having fun and laughing again and the whole company morale will improve.
The time is now!
Stop waiting for things to get better, take action and get help to improve your company for the now and the future.
