Have you ever thought about…The Fundamentals of Success?

Too often we pretend that technology and education have created “new rules” or that modern systems permit us to cut corners and find short-cuts that didn’t exist in the past. While there may be examples where that is true, in general, the fundamentals of living well, achieving our dreams and creating wealth have not changed.

The path to success today is remarkably similar to the path walked by generations past.

What are the basics? You might have your own list, but I would suggest at least the following:

1.       Personal Integrity. Socrates recommended, “Know thyself” and Shakespeare added, “to thine own self be true.” Knowing who we are, what we value and making sure that our words and actions match is fundamental. Doing unfulfilling work or living in an environment that doesn’t suit us will surely undermine our long-term success. Too many of us live “lives of quiet desperation‟ and that is NOT a foundation on which to build a life!

2.       Clear Thinking. Many of us grew up in the “feel good‟ generation and we are confused about the role of thought (education, planning, skills and tools) versus emotion. We let our hopes, wishes, fears, or hang-ups run our lives. High achievers take time to think clearly, seek expert advice, plan wisely, and learn from the mistakes of others. The Old Testament says that “wisdom comes from a multitude of advisors.” Some strategies just work better than others. Buildings are always designed and “blueprinted‟ in advance. Our lives should be designed just as carefully.

3.       Unfailing Optimism.  This is not shallow “positive thinking‟, but a clear-headed, conscious faith in the future and in your own potential. “Where there is a will, there is a way,” or as Hannibal said over 2000 years ago, “We will find a way, or make one.” High achievers believe in their skills, in their plans and in their futures. They forge ahead with confidence built on integrity and careful planning.

4.       Hard Work. Ben Franklin observed, “Early to bed, early to rise makes a man (or woman) healthy, wealthy and wise.” I’ve heard people say achievement should be “effortless‟ and I agree that sometimes enormous amounts of work can flow easily and quickly, but I also know that creating a great life usually requires dedication, personal discipline, attention to detail and effort.

5.      Patience and Persistence. A great life is rarely built in a day. It takes time to develop a life of one’s own. There will be mistakes and wrong turns along the way and highly successful people are neither surprised nor disheartened by this.

After the Turnaround

After years of executing successful turnarounds I began to notice something about the companies I had performed the turnarounds on and it surprised me. 

Having always stayed in touch with my previous employers, clients and friends I would check in with them about once per year.  What began to happen, after I left, was the companies I had turned around were beginning to show the same signs of trouble they had the last time.

I began researching, with the cooperation of my old clients, employers and friends, what happened.  Discussions centered around industry changes, competition, the market place, the product line, organizational structure and customer viability to name a few.  This was all informative BUT it was not enough to put the companies in trouble again.  What was happening?

Remember there are 3 things necessary for a successful turnaround:

1.        Core business profitability – you don’t grow your way out of trouble.

2.       Financial and Operational accountability – creating sustainable and measurable results.

3.        Organizational change – the culture MUST change with the new vision of the business.

What I came to understand was we were accomplishing 1 & 2 with great results.  We spent hours and days focusing on the data, making decisions based on the facts supported by the data.  We looked at the processes and systems and made the necessary changes to support our projections and plans.  We trained and retrained employees in the new way of doing things. 

What we did not immediately recognize was we were changing almost everything BUT the underlying way we made decisions, the way we communicated.  The companies lacked clarity on what the future looked like without the cloud of trouble/bankruptcy overhead. 

Once the companies had attained solid financial footings they fell back into their old habits.  Results and accountability took a bad seat to status (executing a successful turnaround) and likeability (letting exceptions rule the day).  Politics came back, holding each other accountable was seen as less necessary, the future lacked clarity and discipline was not important.  They were getting back into the trouble they had worked so hard to get out of.

What to do?  The long term survival of a company as it exits its turnaround phase MUST be vigilant, have an almost maniacal attention to results, discipline and accountability.  They must continue to exercise their new found skills in decision making and clarity about the future.  Continue to execute like the turnaround is still in full stride, to begin to relax is a sure ticket, Back to the Future.