How to Use The Business Turnaround to Overcome Financial Crisis
On Episode 254 of The No Limits Selling Podcast, we have Jeff Sands, Broker at Ball Real Estate Inc. Brokerage. Jeff has been what we like to call a "go-getter" since the very beginning! He is one of four siblings who were born just twenty minutes north of Kingston in the small hamlet of Battersea. In this episode, Jeff shares with us how to use business turnaround to overcome financial crisis.
His fierce competitive spirit combined with his determination and unbeatable work ethic enabled him to excel at sports while growing up. Excelling mostly in team-oriented sports lead Jeff straight to a successful career as a hockey defenseman. He had outstanding results, playing in the Provincial Junior Hockey League, where he played for the Kingston Voyageurs for five years.
Upon adulthood came a career! And what a career it has been! At just 23 years of age, Jeff became one of the youngest members of the Kingston Real Estate Board. It was clear that Jeff has found his calling, as he has continued to thrive throughout his Real Estate Career. One of his biggest accomplishments to date came in 2005 when he made history by becoming the youngest member ever to enter Royal LePage's National Chairman's Club and became a part of the Royal LePage Hall of Fame (an award which is given out only to the top 1 percent of Realtors in Canada, based on total sales volume).
After working for Royal LePage for five years, Jeff set off on his next venture and opened his office building, and worked under the Re/Max brand for several more successful years of Real Estate service. In 2015 after only six years with the company, he earned the Re/Max Hall of Fame award.
Jeff has been coming up to the Peterborough area, where his wife Katie grew up, for the last fifteen years. Each consecutive year he added more and more time to his visits to the area, as he fell in love with the Kawarthas. Coming from a small town himself, he loves the small town, and the friendly feel of Peterborough, and couldn't be happier to have made the move! Ball Real Estate could not be a better fit for Jeff, with its energetic, friendly environment, distinguished agents, and its desire to continue to grow.
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[EDITOR’S NOTE: This podcast is sponsored by No Limits Selling. It is a fun, fast-paced podcast that delivers hard-fought business advice that you can implement today to improve your sales and performance]
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Summary
Introduction
The podcast begins with an introduction of Jeff Sands, who is described as a business turnaround expert and the author of the book "Corporate Turnaround Artistry: Fix Any Business in 100 Days". He is also the founder of Sands & Company, which is a business turnaround management firm.
Jeff Sands' Background
Jeff Sands shares his background and how he got into the turnaround business. He mentions that he started his own business turnaround enterprise because his father was a turnaround guy. He also shares that he has been doing this for about 30 years.
Business Turnaround Process
Jeff Sands talks about the business turnaround process. He mentions that the first thing he does is to stop the bleeding, which means stopping the company from losing money. He then works on rebuilding the company and making it profitable again.
Challenges in Business Turnaround
Jeff Sands discusses the challenges in the business turnaround process. He mentions that the biggest challenge is dealing with people and their resistance to change. He also talks about the importance of communication in the process.
Advice for Business Owners
Jeff Sands advises business owners. He suggests that they should not be afraid to ask for help and that they should always be looking at their numbers.
Conclusion
The podcast transcript from No Limits Selling features Jeff Sands, a seasoned turnaround expert, author, and founder of Sands & Company. With a career spanning 30 years, Sands shares his insights on the business turnaround process, emphasizing the importance of immediate action to halt financial losses and the subsequent rebuilding phase to restore profitability.
He acknowledges the challenges faced during this process, particularly resistance to change among staff, and underscores the crucial role of effective communication. Sands advises business owners to not shy away from seeking help and to maintain a keen eye on their financial metrics. The podcast serves as a valuable resource for business owners seeking guidance on turnaround strategies and offers a glimpse into Sands' extensive experience and expertise in the field.
Faq
Who is Jeff Sands?
What is the first step in Jeff Sands' turnaround process?
What are the challenges in the turnaround process according to Jeff Sands?
What advice does Jeff Sands give to business owners?
Where can I learn more about Jeff Sands' turnaround strategies?
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