Oprah outlines the vision of the Oprah Winfrey Network in 2011 (AP Photo/Chris Pizzello)
One of the most fulfilling accomplishments in business is leading a turnaround. Taking over a struggling company or organization and finding a path to success is uniquely satisfying, especially when the transformation is achieved with the existing team. Contrary to popular belief, effective turnarounds often happen from within, rather than through a complete restructuring of the workforce.
The core of turnarounds: It starts from within
The biggest challenge to any turnaround is not external factors like the market or competition, but the existing company culture. Often, teams have tried multiple strategies without success, resulting in a pervasive sense of defeat. The key to overcoming this obstacle is to refocus the culture and instill a mindset that believes in the possibility of success. Instead of assembling a new team, leaders should focus on coaching and empowering the existing team.
Successful turnarounds require leaders to earn the trust of their teams early on. This often involves being open about the problems at hand and the solutions that may not be clear to you. By leveraging the existing team, you can fuel the turnaround based on the institutional knowledge base and accelerate positive momentum.
The Mantra of the Oprah Winfrey Network (OWN)
Sheri Salata (left) and Erik Logan, co-presidents of OWN (Oprah Winfrey Network), speak to reporters … (+)
When The Oprah Winfrey Show ended in 2011, OWN had already been on the air for five months. Although the show launched with great success, it faced significant challenges and struggled to gain traction. That summer, Oprah installed a new leadership team, of which I was a co-president. We were tasked with tackling those challenges head-on, despite having little experience with cable networks.
A pivotal moment was when we organized a town hall meeting at the beginning to address the team’s concerns and foster a shared belief in the possibility of success. During this meeting, we introduced a simple but powerful metaphor. We had to confront the huge ratings and business hole we had fallen into, and as we did so, we introduced this mantra: To get out of a hole, the first thing you need to do is “stop digging.”
“Stop Digging” quickly became a rallying cry within the organization, symbolizing a commitment to responsibility and a focus on solutions.
This moment illustrates a key element of leadership: authenticity and vulnerability are powerful tools. Leaders who openly acknowledge their challenges while confidently moving their teams forward create an environment of trust and collaboration. The data backs this up, too. Research from the Center for Creative Leadership confirms that leaders who exhibit these qualities are more likely to build strong, cohesive teams.
Empathy in leadership: A key to sustainable success
Focusing solely on metrics and results is easy and can even distract you from the real goal. A very important aspect of building a company culture is acknowledging the human side of the equation. Understanding the team’s fears, frustrations and aspirations can accelerate employee buy-in and move the company closer to its goals.
Gallup studies show that empathetic leadership significantly improves employee engagement and productivity. When leaders prioritize empathy, they create a supportive environment where employees feel valued and understood, resulting in a more motivated and engaged team.
Become a storyteller
Stop digging. You can start getting out of the hole by putting the shovel away.
One of the most powerful tools in a leader’s arsenal is storytelling. In the case of OWN, the “Stop Digging” moment became a shared narrative that everyone could identify with and rally behind. This collective understanding fostered a sense of unity and purpose, driving the team toward their shared goals.
The importance of storytelling in business is well documented. Data from Stanford University shows that stories are up to 22 times more memorable than facts. Crafting compelling narratives that resonate with your team inspires and drives sustainable action.
Anchor your leadership role with these keys:
- Start with culture: Real change begins from within. In the first moments of turnaround, it is critical to reset the culture and instill belief in the possibility of success.
- Lead with empathy: Understanding and addressing the reality of the situation and the human aspects of the team’s experience promotes loyalty, engagement and productivity.
- Use storytelling to build unity: Creating a shared narrative that resonates with the team gives them a sense of purpose and direction.
Turnarounds are challenging, but with the right attitude and approach, they are entirely possible and more than fulfilling. Honesty, empathy and collaborative effort are timeless in business or personal growth. These principles lead teams through challenges and inspire and empower them to achieve remarkable success.
When in doubt, always stop digging.
