ARTYFACTS: The Art of the Turnaround by Michael Kaiser

Tuesday, September 30, 2008

The Art of the Turnaround by Michael Kaiser

Good art, well marketed’ is Kaiser’s key message. Having been involved in a few business turnarounds I enjoyed this book and found that his advice, along with his ten rules are sound.

1. Someone must lead

· Avoid diffused leadership

· Entering from outside makes it easier

2. Leader must have a plan

· Communicate plan early

· Good art, well marketed

· Set priorities

a. Mission

b. review of environment

c. strengths & weaknesses

d. strategies

e. implementation plan

f. financial plan

3. You can’t save your way to success

· Avoid too many layers of management

4. Focus on future

· Revitalise the organisation

· Don’t waste time rehashing the past

5. Extend programming calendar

· Consider projects over five years

· Always go to a prospect meeting with no less than 10 projects

6. Marketing really matters is

· more than brochures and advertisements

· aggressive and systematic marketing

· programming and institutional marketing

· exhibitions and lectures

· use of celebrities

· programme of PR

· major free events

· arts education

· meet every morning to deal with marketing

7. Only one spokesman and always positive

· Leader only speaks to press

8. Fund-raising focus

· on the larger donor but don’t aim too high

9. Restructure board

· Get rid of dead weight

· Hire new members

· Give clear orientation

10. Be determined to do all of the above


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