MISSING THE CHAIR IS DEFINITELY A WAY TO FALL
The furniture industry in America has been through several up and down markets over the last forty years. Each rise and fall resulted in closures, consolidation and the transition of imports into the marketplace. I worked in a company that had just completed laying off 30% of the workforce and froze the remaining salaries. The company needed to capitalize on gaining market share and reversing the current trend. I recommended intensive off-site leadership conferences and the use of mastermind grouping sessions to focus on our challenges with the objective of developing new ideas. I organized and conducted several off-site meetings with senior management and we worked on the goal of rebuilding revenues and gaining the market share we had lost. I led the meeting, reviewed our current competencies and brainstormed new ideas.
Success in meetings like these only occurs when we build on mutual respect, the acceptance of new ideas, trust, and a moderator that inspires thinking to eliminate protective natures that naturally evolve in companies that are under pressure. Management came together and recognized a production assignment flaw and we immediately addressed the market need for a product that complimented other existing products we sold. A simple solution had always been in front of us; however, management had failed to break down the biggest deterrent to company success, and that is communication and a willingness to share credit amongst all the management teams.
Out of one well moderated mastermind session, we created a $300,000,000 juggernaut and turned the company around. Not just any moderator can accomplish these types of returns, it takes one with complete experience in every area of a business. It is imperative to have a moderator that understands the needs of executives and realizes that business is about profit and building relationships to create long term success.
David is a trusted executive resource and a right arm to the CEO and Chairman. He effectively has led not only strategic required steps but also complex issues including transitioning of management teams to insure employee and shareholder confidence and respect going forward for all involved.
Ed S. - Chairman of the Board