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miracle turnaround for LinkedIn

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Mike Mastroyiannis
Mike Mastroyiannis

This document discusses lessons learned from a company transformation that delivered amazing results in 12 months, going from financial losses to acquiring another company and establishing a joint venture with a Fortune 500 company. It explains that to achieve such a drastic and fast turnaround, a core team of top professionals from different industries must be assembled, led by an inspiring leader, and focus on changing multiple business attributes simultaneously through a new business model. Ruthless execution of the plan is essential, with fast feedback loops to learn from the market. Autonomy is needed to seriously innovate. The document then provides a brief introduction to upcoming disruptions from exponential technologies across industries, creating new industries and wealth but also requiring companies to transform to survive.

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From turnaround to miracle and intro 21st century disruptions With all exponential technologies growing so fastand going across industries I expect a lot of disruption for many industries the years to come . So far it is happening mainly within the Information Industry whereallis digitalized but we see already expansion to Industries with hard assets ( e g Hospitality >> AirBnB , Transportation >> Uber ,.. ) where the enabling Information and Networking technologies are dematerializing and demonetizing industries by leveraging third party assets . In this article I will focus firston the lessons learned froma company transformation that ended to deliver amazing results : When a company is loosing money and cannot makeits business model work needs many things to be changed . This normally takes a few years .when a company ( multinational , 3 continents) shareholders ask for a badly needed turnaround after a few failed ones and end up with a transformed company in all aspects ( shareholders reduction , better products , better processes , delivery time reduction , new upstreamand downstreampartners , competitiveness , new strategy ,.. ) + acquiring another company + undergoing due diligence and establish a JV with fortune 500 company ALL within 12 months then this is what I call a miracle. Here the focus will be to explain what you need to make such a transformation happen . This was my 6th company transformation/turnaround after 5 moreas participant , member of a management team in the lead of a transformation or as CEO leading the transformation. What we learned , a Team Effort : - Starting from customers talk personally to as many people across the wholevalue chain . Decide within max 60 days the key changes needed.
- Assembling a core team withthe best people available for the task is priority - Drastic , complex and fast turnaround can only happen witha good team of top professionals having the right experiences preferably froma different industry , are determinedtosucceed, are able to think out of the box and are lead froman inspiring and disciplined leader. - To achieve breakthrough focus on only 1-2 key business attributes is not enough . You need change of multiple business attributes e.g Speed , Better partners , Better People , new customer interaction process , New Digital marketing and supply chain technologies . >> NEW Business Model if applicable. - Shared Mindset that if something can be done it will be done . - The Turnaround Leader + Team needs to be determined to follow the plan even if it is needed to disturb individual shareholder interests . - Bringing fast better people on board and after changes in processes and strategy many of the existing employees decide to leave themselves as thenew environmentdoes not representthem. - Software and systems/solutions thinking becomes more and more important in our networked world. - Learning by establishing fast feedback loops frommarket to the company is vital for success - Leadership to inspire and focus people behind a much bigger vision/purpose thanthemselves is key - Embracing more and more digital marketing , better company wide digital collaborationtools , reaching out to the community of
partners /beyond and leveraging thirdparty assets are essential for achieving results. - Ruthless Focus onExecutionof the plan including the planned iterations withfast feedback loops the essencetodeliver. These werethe key lessons and below 2 morefor the JV period : - A JV needs autonomy to deliver .To seriously Innovatecannot be done within an established company which protects the established corebusiness model without full autonomy ! - Finally we inspiredand nurturedmany employees and managers that started with low level of exposureand learned so much with such a wealth of experiences within 3 years time period ! In such a business setting you learn in 3 years whatyou need 10 years in a big corporation Intro what will happen the coming years with all Exponential Technologies Here my focus will be to give a shortintroduction of whatwill be needed in the future as the new exponentially growing technologies ( Artificial Intelligence , Crowdsourcing , Robotics & Drones , Big Data & Data Analytics , Sensors , mobile , Digital Encryption & Currencies , 3D printing , Genetics ,. ) startgoing across almost all Industries ( e g Entertainment , Transportation , Medical , Financial , Education , Communication , Manufacturing , Energy , Military , ) . At the same time big companies using the new technologies startto expand their businesses to other industries ( e g Apple >>> Cars , Google to cars and space, .. ) creating soon new Industries . Smaller companies as well having easier access to many new technologies will be able to develop faster adjacent solutions or even enter new industries .
The result will be : - A very competitive and faster by day business environment - Creation of new Industries frommerging of old ones with addition of new elements - Creation of tremendous wealth and abundance - Many companies will almost monopolize their market - Many new niches will be created - Many companies will need to reorganizeand transformthemselves to surviveand thrive For a few of the above subjects and what will be needed to create transformation within the new Exponential Technologies environment I will come back with a new article shortly. Thank you very much and as always welcomecomments and dialogue.

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miracle turnaround for LinkedIn

  • 1. From turnaround to miracle and intro 21st century disruptions With all exponential technologies growing so fastand going across industries I expect a lot of disruption for many industries the years to come . So far it is happening mainly within the Information Industry whereallis digitalized but we see already expansion to Industries with hard assets ( e g Hospitality >> AirBnB , Transportation >> Uber ,.. ) where the enabling Information and Networking technologies are dematerializing and demonetizing industries by leveraging third party assets . In this article I will focus firston the lessons learned froma company transformation that ended to deliver amazing results : When a company is loosing money and cannot makeits business model work needs many things to be changed . This normally takes a few years .when a company ( multinational , 3 continents) shareholders ask for a badly needed turnaround after a few failed ones and end up with a transformed company in all aspects ( shareholders reduction , better products , better processes , delivery time reduction , new upstreamand downstreampartners , competitiveness , new strategy ,.. ) + acquiring another company + undergoing due diligence and establish a JV with fortune 500 company ALL within 12 months then this is what I call a miracle. Here the focus will be to explain what you need to make such a transformation happen . This was my 6th company transformation/turnaround after 5 moreas participant , member of a management team in the lead of a transformation or as CEO leading the transformation. What we learned , a Team Effort : - Starting from customers talk personally to as many people across the wholevalue chain . Decide within max 60 days the key changes needed.
  • 2. - Assembling a core team withthe best people available for the task is priority - Drastic , complex and fast turnaround can only happen witha good team of top professionals having the right experiences preferably froma different industry , are determinedtosucceed, are able to think out of the box and are lead froman inspiring and disciplined leader. - To achieve breakthrough focus on only 1-2 key business attributes is not enough . You need change of multiple business attributes e.g Speed , Better partners , Better People , new customer interaction process , New Digital marketing and supply chain technologies . >> NEW Business Model if applicable. - Shared Mindset that if something can be done it will be done . - The Turnaround Leader + Team needs to be determined to follow the plan even if it is needed to disturb individual shareholder interests . - Bringing fast better people on board and after changes in processes and strategy many of the existing employees decide to leave themselves as thenew environmentdoes not representthem. - Software and systems/solutions thinking becomes more and more important in our networked world. - Learning by establishing fast feedback loops frommarket to the company is vital for success - Leadership to inspire and focus people behind a much bigger vision/purpose thanthemselves is key - Embracing more and more digital marketing , better company wide digital collaborationtools , reaching out to the community of
  • 3. partners /beyond and leveraging thirdparty assets are essential for achieving results. - Ruthless Focus onExecutionof the plan including the planned iterations withfast feedback loops the essencetodeliver. These werethe key lessons and below 2 morefor the JV period : - A JV needs autonomy to deliver .To seriously Innovatecannot be done within an established company which protects the established corebusiness model without full autonomy ! - Finally we inspiredand nurturedmany employees and managers that started with low level of exposureand learned so much with such a wealth of experiences within 3 years time period ! In such a business setting you learn in 3 years whatyou need 10 years in a big corporation Intro what will happen the coming years with all Exponential Technologies Here my focus will be to give a shortintroduction of whatwill be needed in the future as the new exponentially growing technologies ( Artificial Intelligence , Crowdsourcing , Robotics & Drones , Big Data & Data Analytics , Sensors , mobile , Digital Encryption & Currencies , 3D printing , Genetics ,. ) startgoing across almost all Industries ( e g Entertainment , Transportation , Medical , Financial , Education , Communication , Manufacturing , Energy , Military , ) . At the same time big companies using the new technologies startto expand their businesses to other industries ( e g Apple >>> Cars , Google to cars and space, .. ) creating soon new Industries . Smaller companies as well having easier access to many new technologies will be able to develop faster adjacent solutions or even enter new industries .
  • 4. The result will be : - A very competitive and faster by day business environment - Creation of new Industries frommerging of old ones with addition of new elements - Creation of tremendous wealth and abundance - Many companies will almost monopolize their market - Many new niches will be created - Many companies will need to reorganizeand transformthemselves to surviveand thrive For a few of the above subjects and what will be needed to create transformation within the new Exponential Technologies environment I will come back with a new article shortly. Thank you very much and as always welcomecomments and dialogue.