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The Turnaround King - Saving America, One business At A time
“America was built on small business, and many of them are in trouble today.”
Grant Cardone is a motivational speaker, author, and entrepreneur whose business success and entrepreneurial advice has generated the title “The Turnaround King.” Beginning June 19th he’ll have a new show on the National Geographic Channel called “Turnaround King” where we’ll see Grant in action as he attempts to “turnaround” two struggling businesses on the verge of bankruptcy.
The erratic state of our economy has us concerned with the future.
There is no secret that the economy has suffered a severe turn down these past few years, triggering a mass shut down of too many smaller businesses, with many more struggling merely to stay open. Grants skills as a business turnaround king are going to be put to good use when he attempts to identify exactly what problems each particular business is facing and the things they can do to turn things around.
Grant will come into these struggling businesses one at a time with hidden cameras to “mystery shop”, giving him an unobstructed view of the potential problems the company could be facing. He will then analyze these companies and help them come up with a plan to turn things around to get back on track.
Turnaround King will premier with a two part special. The first episode, “Keeping The Gym” will take us to a Whippany, NJ gold’s Gym franchise that's on the verge of closing. Gym owners, the Puleos family, are faced not just with losing their business, but they're also in danger of losing the family home which had been mortgaged to help keep the company afloat. After Grant tours a fitness center with a hidden camera he is able to isolate several factors he believes are responsible for the Gym’s failures, including mismanagement and low membership fees.
The second episode will see Grant analyzing the Straub family’s Buick dealership. This dealership has been family owned for 3 generations - for a total of 64 years. The recent bailout of GM led to many GM dealerships closing down and many, many workers being fired. The Straub family, feeling a sense of loyalty for their employees, several of whom had been with the company for as many as 30 years, had been using their personal savings to make their payroll. Was this the right thing to do? And will this company want to make some tough sacrifices if it wishes to remain afloat and turn things around?
Precisely what exactly is a turnaround?
As Grant states, turnarounds are usually linked to impending failures, but they could also be ascribed to individuals enjoying moderate success but would like to take it to the next level. He identifies 3 primary steps associated with a turnaround:
1) A commitment to turning things around
2) The ability to identify the true problem
3) The creation of a fresh plan that will create the optimal situation
“Until someone decides to change, they will not, regardless of the need.”
The commitment to turning things around would be the first step, and sounds simple enough, but if someone continues to playing the blame game and making excuses, it is a good sign they have not yet fully committed to turning things around. When someone becomes fully committed, the finger pointing as well as the excuses will stop.
“People become enamored with false ideas and old beliefs and even chained down by past successful actions.”
The second step is often hard for a lot of people. Sometimes it’s hard for individuals to recognize the true problems when clinging to their old habits. It is usually challenging to self analyze as people tend to lose the objectivity required to have a clear view of the situation. This can make it tricky to identify the true problem so they can move on to step 3 and make up a new plan that will create the optimal situation.
Learn from turnaround king Grant Cardone as he attempts to turn struggling businesses around on The National Geographic Channel with his brand new show - TURNAROUND KING, premiering June 19 at 9pm.
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