Friday, June 22, 2007

Turnaround Advice

Marc Andreessen of Netscape is blogging now. I guess his business ventures since Netscape haven't gotten him noticed, so he is trying this approach. He has good advice. His lesson from Netscape was:

Focus more on your customer than you do your competition. In other words, spend your effort figuring out what your customers want / need / will buy from you as opposed to watching to see what the Big Boys do.

His recent post about turn arounds features some good advice as well:

  1. Have a single, crisp, coherent message and strategy.
  2. Identify the 1-3 things that are working surprisingly well in your business, and double down on those.
  3. Quoting Peter Drucker: "focus on opportunities, not problems"
  4. Identify the 1-3 things that are consuming a lot of money and time and yet going nowhere, and kill those. Frankly, they don't even have to be consuming that much money. They're almost certainly consuming time and management bandwidth, and they need to go.

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