We can almost hear these words as they are spoken by the trainer to a young boxer who wants to be a world champion contender. “The training is so hard and the goal seems so far away – can’t we just rest a little bit today?” might have been the boxer’s plea. But continue he must if he is to reach his goal.
Charles Noski, Vice Chairman of AT&T (retired), cited these same words spoken to him by a former colleague and mentor over 20 years ago, as the advice that has inspired him over his business career. (Financial Executive, July/August 2006, p. 72) That career has spanned a successful stint in public accounting with a large national accounting firm, several major corporate financial posts culminating at AT&T, and his current roles as a board member for such major companies as Microsoft and Morgan Stanley.
Owner/CEOs of companies in transition must also train for the fight ahead – even a soft turnaround is not easy. For the owner/CEO that training often takes the form of:
- Inspection and analysis – what’s working in the business and what isn’t?
- Soul-searching introspection – what do I personally need to do differently?
- Team building – how can I build/strengthen and motivate my team to strive for the goal?
Rigorous preparation greatly improves the chances for success.
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