TMA Member Article Published in TheStreet.com "5 Biggest Business Mistakes"

Today, I read an interesting article by a TMA member from Portland, Renee Fellman, CTP. Renee’s article, “5 Biggest Business Mistakes,” was published in TheStreet.Com on October 18. Renee makes some great points, many of which will be familiar to experienced turnaround professionals. Hindsight is 20/20, so I think it best to look to the lessons that each of the case examples offer (Blockbuster, Toys “R” Us, Sears, Borders and BP) and apply them as we all work through our client’s troubles. The mistakes always seem so clear in hindsight, but the best go-forward strategy always seems difficult to identify or implement. I think being able to work through these problems by applying the lessons from the past is the effective turnaround advisor’s key strength. Much of this strength comes from objectivity, since sometimes when we’re mired in the problems, the solutions, though right in front of our faces, are difficult to see. Thanks to Renee for highlighting these issues and to TheStreet.com for publishing Renee’s article. See the article by clicking here.