S6 E11 (The Smart and Savvy Exit) The Big Turnaround - Enough is Enough and Mapping the Road to Recovery - Ellen McIlhenny

Ellen McIlhenny - “The Smart and Savvy Exit – The Big Turnaround – The New Digs”

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INTRODUCTION
So last Saturday was the 20th anniversary of the 9-11 attacks on our homeland. Anyone who was alive at the time remembers the sheer terror as we watched the plane hit the second tower of the World Trade Center. Then not too much later we hear of the disaster at the Pentagon.  Everyone’s life changed forever on that beautiful September day.
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Everyone has their “where were you when you heard?” story. I’m sure there are very few people who don’t remember exactly what they were doing when they heard.
 
I was working as the CFO at a local business. I was in the Admin area working with someone when our Controller came up and said that a plane had just rammed into the World Trade Center. My initial reaction was that some kind of mechanical problem had caused it to happen. We went into the lounge area to look at the news reports.

Not long after we turned on the TV the second plane hit. It was surreal watching the whole thing transpire. I remember my initial thoughts were fear and the need to go home and hug my kids. It took several months before I felt safe being away from them. Little did we know, but our lives would never be the same.
 
But one thing about the whole experience was how everyone seemed to come together. No matter what our differences were, everyone was an American and we were all looking at a common enemy.
 
In today’s very divided world, I wonder if there would be the same reaction.  I sure hope so. And certainly, hope we don’t have to find out.
 
I think the big news for small businesses this week is the possible vaccine mandates for businesses with over 100 employees. While I am pro-vaccine, we all know there are some people for special health reasons who have been advised to not get the vaccine. This will impose a tremendous economic burden on businesses.

As we know there is currently a shortage of workers and if employers are forced to fire people who are not vaccinated, this growing problem will get even bigger. Implementation of this plan will also be expensive, both ensuring all employees are vaccinated and the weekly testing of the unvaccinated. That says nothing of the draconian per employee fines for violation. I have no doubt that most business owners are already doing all they can do to keep their workforces healthy. It’s in their best interest. They don’t need the government stepping in with expensive and burdensome mandates.
 

We here at IBGR are committed to helping small business owners with questions you may have about running your business. Whether you are just starting or have been around for many years. We are here for you.

IBGR has a lot of exciting things happening during season 6.  Be sure to become a part of our community so you can be a part of it.  Thanks for listening. 
  
 
Show Objectives - The Why
 
Today we will continue our discussion of my book The Big Turnaround: How bad management nearly destroyed an exceptional company. Today we will be talking about chapters 12 & 13- Enough is Enough and Mapping a Road to Recovery.

Our “Tuesday Tip” – FOCUS, FOCUS, FOCUS.

 Shows 

• Previous: Season 6 Podcast Episodes 36-39 We covered Chapter 11,  “The New Digs”
• Find My Podcast at https://pod.co/future-financial-confidence-with-ellen-mcilhenny

Next Week: We will finish “The Big Turnaround” with Chapter 14 – The Big Turnaround.


Resources:
Written by Ellen McIlhenny 
Owner of CFO Plus Services, a Fractional CFO services firm which also offers Back Office Bookkeeping Services.  Author of the business novel The Big Turnaround; How Bad Management Nearly Destroyed an Exceptional Company. Check it out at https://thebigturnaround.com


You can connect with Ellen on any of her #cfoplusservices platforms or ellen@cfoplusservices.com
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