The Turnaround King – Saving America, Business By Business
“America was built on small business, and many of them are in trouble today.”
Grant Cardone is a motivational speaker, author, and entrepreneur whose business success and entrepreneurial advice has generated the title “The Turnaround King.” Beginning June 19th he’ll have a new show on the National Geographic Channel called “Turnaround King” where we’ll see Grant in action when he tries to “turnaround” two struggling businesses on the verge of bankruptcy.
The unstable state of our economy has us wary of the future.
It is no secret that our economy has suffered a severe turn down these past few years, triggering a mass shut down of far too many small companies, with many more struggling just to stay open. Grants skills as a business turnaround king are going to be put to good use as he tries to identify just what problems each particular business is facing and what they are able to do to turn things around.
Grant will go into these struggling businesses one by one with hidden cameras to “mystery shop”, giving him an unobstructed view of the potential problems this business may well be facing. He will then analyze these businesses and help them to come up with a strategy to turn things around to get back on the right course.
Turnaround King will premier with a two part special. The first episode, “Keeping The Gym” will take us to a Whippany, NJ Gold’s Gym franchise that is on the verge of closing. Gym owners, the Puleos family, are faced not just with losing their business, but they are also in danger of losing the family home that had been mortgaged to help keep the company afloat. After Grant tours a fitness center with a hidden camera he is able to isolate several factors he believes are responsible for the Gym’s failures, including mismanagement and low health club fees.
The other episode will see Grant analyzing the Straub family’s Buick dealership. This dealership has been family owned for 3 generations – for a total of 64 years. The recent bailout of GM ended in many GM dealerships closing down and many, many workers being let go. The Straub family, feeling a sense of loyalty for their employees, several of whom have been with the company as many as 30 years, have been using their personal savings to make their payroll. Was this the right thing to try and do? And will this business want to make some tough sacrifices if it wishes to remain afloat and turn things around?
So what exactly is a turnaround?
As Grant states, turnarounds are typically linked to impending failures, however they may also be ascribed to those enjoying moderate success but would love to take it to the next level. He identifies 3 primary steps associated with a turnaround:
1) A commitment to turning things around
2) The ability to identify the real problem
3) The creation of a whole new plan that will create the optimal situation
“Until someone decides to change, they will not, regardless of the need.”
The commitment to turning things around would be the initial step, and sounds obvious, but if someone continues to be playing the blame game and making excuses, it is a good sign they haven’t yet fully committed to turning things around. When a person becomes fully committed, the finger pointing and the excuses will stop.
“People become enamored with false ideas and old beliefs and even chained down by past successful actions.”
The 2nd step can often be difficult for most people. Sometimes it’s hard for people to identify the actual problems when clinging to their old habits. It is sometimes challenging to self analyze as people tend to lose the objectivity essential to get a clear view of the situation. This can make it difficult to identify the real problem so they can start working on step # 3 and make up a new plan that will create the optimal situation.
Learn from turnaround king Grant Cardone when he tries to turn struggling businesses around on The National Geographic Channel with his new show – TURNAROUND KING, premiering June 19 at 9pm.
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