Howdy GirdleyWorld!
Things break sometimes. It’s inevitable. Here’s what I do about it:
- How I quickstart turnarounds with a 2x2 matrix
Let’s do this!
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The more complicated a system gets, the more potential failure points it has.
And all you need is:
- post-its
- whiteboard
- the right brains in the room
Enter the matrix
First, a bit of context. The approach I’m going to walk you through is what I use to start fixing complex systems like:
- A money-losing business
- Failing retail store
- Teams that aren’t hitting their numbers.
These aren’t simple fixes. It can be tough to pinpoint causes, difficult to measure results, and there are lots of factors at play. So we need a broad approach to turning things around.
My process has 6 steps:
- Assemble the team
- Gather data
- List possible fixes
- Prioritize
- Assign owners
- Track results
I’ll walk you through each step. (Right after this ad!)
1. Assemble the turnaround team
The first thing I do is identify everyone who may end up owning a fix. Then I gather everyone for a meeting on-site.
If I’m turning around a division, we meet at their office.
If it’s a restaurant, we’ll meet at the restaurant site.
Being there physically is essential for step 2.
2. Gather data
Everyone has their own ideas about what’s wrong.
The problem is they’re not being fixed.
So I lead everyone on a walk of the facility, and we brainstorm everything that’s broken.
One person makes a list of every observation. Nobody proposes solutions (yet).
3. List possible fixes
Once we’ve listed the problems, I get everyone into a room.
We go down the list and create an initiative for each one.
Let’s say our place has dirty bathrooms.
We discuss, then write a solution on a sticky note like this:
4. Prioritize fixes
Next, I draw a 2x2 matrix on the whiteboard.
On the y-axis, write “Impact” with an arrow pointing up.
On the x-axis, write “Easier” with an arrow pointing right.
We go through each sticky from step 3, and discuss where to place it on the board.
The greater the impact, we place it higher on the y-axis. The easier it is to do, we put it more to the right on the x-axis.
The lowest hanging fruit gets placed in the top-right.
Those are the highest ROIs to start the turnaround:
5. Assign Owners
We can’t do EVERY fix. There’s just not enough time or resources. Or some are too hard right now.
Start at the top right with the highest ROI fixes, and figure out how many of these are realistically doable. Work down and to the left.
Once you’ve got a reasonable list, draw a red line to highlight which tasks need to get done.
Then assign each one to a single owner.
6. Track Results
I now have 10-12 initiatives to start the turnaround.
Over the coming weeks, I must track them.
Be a strong leader and hold people accountable.
I like daily huddles to check progress and identify any blockers.
That’s the whole process!
It’s an easy structure for everybody to wrap their head around. And it makes sure that everybody is using their energy on things that actually make a difference.
But you'll put changes into motion by showing up and working through it.
It sends the message that you care, both about them and their success. And sets you up to make other big, long-term changes as needed.
This is a simple playbook that gets big results when you need them.
What do you think? Have you done something similar?
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3 things from this week
- Appetizer: I am a big fan of Thanksgiving. And I demand it of my staff! (This is a joke.)
- Main: My friend Brian Feroldi shared a great story about why failing early is something to be thankful for. It all comes back to my favorite, the Dunning-Kruger Effect. Read here! (Also definitely worth a one-click subscribe, if you haven’t already.)
- Dessert: Anything comparing me to Chili’s is a compliment. I appreciate it Gregg!
Have a great long weekend!
Michael
