Given the fast approaching Lansing Harbor Festival , it seems natural to begin my series of business articles on a theme that has been close to my heart and a running theme in our business philosophy and practices: community.

Unless you've been sequestered away on a Rinzai Zen retreat, you've been witnessing what David Korten calls the "Great Turning." In his book, The Great Turning: From Empire to Earth Economy, Korten helps us understand why the current political, social, and financial institutions are tumbling and efforts to rebuild on the same foundations will continue to be less than successful. And also, the importance, no, the necessity, of community, in all of our present and future endeavors.

 

In our work, my partner Michael and I have led a number of business turnarounds, in which we help companies return from significant loss to profitability. The principles of collaboration and community that Korten suggests are necessary to sustaining our society, are also essential to resuscitating a failing business.

A business turnaround requires the implementation of disciplined processes and procedures that have been absent in the business operations - usually in the financial and sales/marketing functions. And the sustainability of the turnaround is dependent on continuing collaborative efforts of the entire community salient to that business - its employees, management, financiers, advisors, vendors and other creditors.

 

Long-term business health implies a new business model - beginning with clarity on company values, vision, and mission. In a privately-held company, the owner's personal vision and mission must precede that definition, in order to ensure congruence between the his or her intentions, and in how the business actually operates in the marketplace.

With the drastic changes in our economy in the past several months, it is apparent to us that a new model is necessary for many businesses. Collaboration, cooperation, and community are necessary elements for not only Main Street businesses, but for all small businesses to survive the financial debacle created by Wall Street.

In this spirit of interconnectedness , I am excited to share information, ideas, and resources that may be helpful to any of you wishing to embrace change and usher in new ways of doing and being in business to benefit the greater community.

 

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