Episode 21: How To Fix A Business In 100 Days w/ Jeff Sands, Dorset Partners
What better time to have a turnaround expert on the show, right?
Jeff Sands is a 3x winner of the Turnaround Of The Year award (2017-2019), and he's got a good shot at 2020. He spent his early career working in his family business. When outside pressures rattled the company, Jeff realized two things: a) the importance of cash and b) that nobody taught him how to manage this crisis.
Jeff's passion is turning around troubled businesses, and he's one of the best in the world at it.
During our chat, we discuss:
-
[0:00 - 9:00] Introduction and Background
-
[10:00 - 13:00] Why Stubbornness Is Death in Turnarounds
-
[14:00-20:00] Jeff's Tools For Turnarounds
-
[21:00-27:00] Why Jeff Doesn't Look at The P&L
-
[28:00-30:00] First Steps in Any Turnaround
-
[31:00-34:00] How To Coach A Bank
-
[35:00-41:00] Founding Dorset Partners
-
[42:00-56:00] Real World Turnaround Examples
-
[57:00-59:00] How To Identify A Core Business
-
[60:00-66:00] Jeff's Failures in Turnarounds
-
[67:00-69:00] How To Spot Failed Turnarounds in Public Companies
-
[70:00-end] Concluding Questions
If you want to learn more about Jeff (and his book), check out these links:
