| Jerry Jones not only understands FutureBrand's perspective on brand building and the shareholder (fan) value it creates, he has taken it to a level not previously found in the sports world. Love 'em or hate 'em, Jones' Cowboys continue to define and then redefine how businesses are run and, when necessary, repositioned. Jones and his Cowboys have provided vivid examples of what it takes to turn a business around. Business people that seek to revitalize their businesses must do the following: Realize that all industries are cyclical and that it's merely a matter of when not if a business will incur a down cycle. How far into the business season was it before you realized your company was further behind the competition than you thought? The Cowboys slipped to 3-13; how far below .500 might you fall? Failing to properly delegate authority undermines management's relationships. Thoroughly craft or revise a comprehensive strategy. It is necessary to revisit all internal and external aspects of the business, including senior management. When conducting this analysis and making changes, it is critical to include employees in the process, appreciating the role they play. Redouble their efforts to secure visionary leadership. Making the tough calls will not be easy but strong and credible stewardship will go a long way to assuaging employee and shareholder concerns. Recognize that not all elements of the business or organization need an overhaul. Know who your "Wendy's" are and make sure you keep them; don't throw the baby (Snapple) out with the bath water. Identify and invest in their "franchise" players like the Cowboys did with Troy Aikman. Conversely, companies must not underestimate the harm serious personnel problems can cause to the organization. Understand that the more successful the company has been, the quicker results (i.e., the turnaround) will be expected. Recognize the critical role of savvy media and public relations. The media filters any and all messages and can position a company as it sees fit. A failure to allocate sufficient resources to ensure a positive relationship with the media leaves a company vulnerable during periods of change. Leverage the brand's positives. Whether this involves acquiring or extending a brand, keen attention must be paid to all elements of the marketing process whenever a significant brand opportunity presents itself. Invest in and protect the business. If you consistently refine your business you might not be faced with having to totally reposition it. Once a business has been established, customers have been reached and adequately serviced, attention is turned to branding, as well as dealing with employees, business allies, and the inevitable crisis. Throughout it all, one consistent theme emerges: Without proper leadership, businesses and organizations of all types, including those operating throughout the sports world, cannot succeed in the long run. |
