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