Mark Faust: The Power Of The Turnaround Mindset

Think back to a time when your life and the future were in your hands. The attitude you had was key to success. That attitude is the turnaround mindset. The turnaround mindset need not only come about when something is at stake. It can be employed whenever there is great potential. 

When a true turnaround mindset is introduced, hope builds. For example, when a leader casts a vision of great improvement, everyone feels hopeful as they want to improve their situation. This is contingent on the leader accurately discussing the environment’s problems, constraints and pains. If that leader does this, then the team is more apt to feel a sense of hope, and it gives the leader credit for speaking to the team’s experience and taking its needs into account. The team respects the leader for thinking boldly and positively, and then, the team has hope that this leader can help the group move toward this new set of possibilities. 

Leaders with a turnaround mindset inspire hope. By buying into the vision and the leader, the team has a heightened sense of hope. A key to all of this, though, is one of the legs of every strategy: a clear vision of an improved situation. Yes, in many cases, hope is a part of strategy. 

With a turnaround mindset, everything is up for improvement and innovation. No improvements or innovations should be off the table. Too often, improvement efforts in organizations focus on just a few key areas. For example, “We are going to build our product quality and sales to new clients!” But they may not mention factors such as compensation, joy in the workplace and safety.  

How could you apply this to your business? A turnaround mindset puts the status quo on trial. If there is enough pain and dissatisfaction in a workplace, then the strategist who casts a compelling vision and turnaround mindset will break the icy hold of the status quo. This means that those who held power will begin to lose it, and their influence will wane. 
As an example, say a CFO of a company once killed off innovative investments and efforts to bring a workplace up to date. His or her previous grip on power can be broken by the new leader’s turna-round mindset, which is supported by the trust that employees put into the new vision and direction. 

Challenge the status quo. It’s well worth researching what Thomas Jefferson really meant, but he did say, “a little rebellion now and then is a good thing.” Our founding fathers were exemplars of the turn-around mindset and rebels who used it to shatter the status quo. 
The challenge for you as a leader is this—where can you employ the turnaround mindset to transform yourself, your family or your company?