Today on the show we get together with Scott Sinclair. He is the president and founder of Sinclair Range, a company that helps troubled businesses become thriving companies.
No two businesses are alike, whether they’re thriving or struggling. There are key indicators that can help you determine a company’s status; you need to know where to look. When you’re in the business of turning troubled companies around, it becomes important to identify the elements that aren’t working. Along with what needs to change if you’re going to be successful.
“ 100% of the time when you walk into a troubled company, by the time I meet them, they're resistant to change. [They say] ‘I've tried everything. I've tried everything and it doesn't work.’ And what I've learned is, one of the first things I do on a new mandate is what I call the listening tour."— Scott Sinclair [0:20:40]
Scott shares how he went from being an accountant to excelling at entrepreneurship. He tells us how he’s been able to work with so many diverse businesses. Scott shares key variables he focuses on when he needs to turn a company around and turn it into a successful story.
He also gives a detailed account of how to create winning momentum, the impact of losing that momentum, and why every company he’s ever worked with has been resistant to change.
“ People think that the human brain looks at facts and logic and evaluates them and then forms an opinion, or makes a decision based on the input, when in fact, it's exactly the opposite. What a human brain does is it forms an opinion; it makes a decision. And then it seeks out facts that support that.” — Scott Sinclair [0:22:11]
Scott has had a fascinating career and is a treasure trove of knowledge. Tune in for key insights and invaluable takeaways and learn why these lessons can benefit any company that wants to improve its operations!
KEY POINTS FROM THIS EPISODE:
Get to know today’s guest Scott Sinclair, President of Sinclair Range.
Learn about Scott's company, Sinclair Range and how they help turn around businesses.
Scott’s formal training as an accountant and how he transitioned into entrepreneurship.
The factors that have allowed Scott to step into so many diverse businesses.
The role that monthly projection models play in a business analysis.
What it means for a company to embrace change and why it is one of Scott’s core beliefs.
Why companies that need to turn around are always resistant to change.
Learn how Scott conducts a ‘listening tour’ and why it illuminates what isn’t working within a troubled company.
How confirmation bias prevents executives from understanding what isn’t working in their business.
An overview of what it means to create winning momentum and why it’s so important.
The unexpected challenges of growing revenue.
How Scott’s businesses weathered the pandemic. As well as his views on a post-pandemic economy.
Scott's media recommendations, other podcasts and audiobooks.
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LINKS MENTIONED IN TODAY'S EPISODE:
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