Staying in the Game in the Face of Adversity 3 stories of real - PowerPoint PPT Presentation

Staying in the Game in the Face of Adversity 3 stories of real companies in real crisis John Costello, CEO/President Wayne Whitesell Robert Isherwood, CEO Cherry’s Industrial Equipment Great Game Certified Coach AMBAC International Elk Grove Village, IL Oklahoma City, OK Columbia, SC

Agenda: Let us tell you a Story… …up to the cliffhanger - Your Ideas – what would you do? - And then what happened… 3 Stories & 3 Rounds of your ideas (put them into the chat to <everyone>)

One.

That was not good But the really bad part..

‘We’ve decided another solution would benefit everyone.’ ‘I didn’t think you guys were in business anymore?’ ‘We can’t compete. We have old machines, old products, and no customers, and no one cares.’ ‘… and how is the Company a viable going concern ?’ Ideas heard, not quotes

Your Move. Please put your thoughts, ideas, comments into the CHAT.

Resolution: Open The Books. Make it EVERYONE’s problem. Celebrate every /any win. Release the creativity of the team. Adaptive Leadership – “pivot”

Sale Sa les & GP% $14,000,000.00 25.00% $12,000,000.00 20.00% $10,000,000.00 15.00% $8,000,000.00 10.00% $6,000,000.00 5.00% $4,000,000.00 0.00% $2,000,000.00 $0.00 -5.00% 2014 2015 2016 2017 2018 2019 2020 (fc) Sales GP%

Two.

Closed Due to Covid-19 Exposure

PRITZKER GIVES STAY-AT-HOME ORDER FOR ILLINOIS, IN EFFECT UNTIL APRIL 7 Are we considered and essential business? How do we protect our What is our emergency plan? employees? … and how are we going to generate cash ?

… Ente tered in into to a a nigh ightmare. • My wife, who works in the business, fell ill. She exhibits all the classic symptoms of Covid-19, such as a fever, dry cough, and a sore throat. • Limited testing available, no way to test for positive exposure to Covid-19 at the time. • College age Son returning from school experiences similar symptoms. Shelter in in Pla lace • The state of Illinois issues shelter in place orders, which forced the company to transition. • Most employees shifted to working remotely, while production nd managers continued to work on site.

… We made the tough decision to shut down production for at least a week. This despite knowing that our customers needed us, especially those involved in maintaining the nation’s food supply. We will recover, things will be fine, we’ve Life isn't about waiting for the storm to pass; it's battled before and won with battle scars to about learning to dan ance ce in the rai ain prove it, and we certainly can do it again.

Your Move. Please put your thoughts, ideas, comments into the CHAT.

Resolution Le Lead wi with Ag Agil ility an and d Hum umilit ity Elim limin inat ate Fea ear an and d Mys ystery – Co Communic icate dai aily an and weekly Look at Lo at the the num umbers, Forecasts and data don’t lie. Sh Share sto storie ies s to to ke keep pe people co connected. Gat Gather the the wi wisdom of f the the cro crowd.

Three.

August st Sep Septemb mber Fis Fiscal cal We W e WON!!! ON!!! Lost Lost. Year ear Level 5 Le el 5 End End Big Pay Big P ayout. out. – some quit the playing Game, and some never were. It’s not the “Great Game of Business” – it’s the “Hunger Games of Business”

‘Not Quote’s’ This is not the company it was, and I don’t like it. ‘Those’ people don’t think like you do, they need clear direction, and accountability for failure. You don’t “celebrate” when people are doing their job – you fire them when they don’t. Believe me, they’ll get it. This is is is a a fac factory, , no not t a a grad rade sch school l play ayground. These are not even close to direct quotes.

Your Move. Please put your thoughts, ideas, comments into the CHAT.

Resolution: We didn’t quit – we bought in: Begin with the right leadership. Why are you GGOB? Ownership Thinking. Book Clubs, DT Leadership, Walking the Talk Critics are not “a problem” they are your teacher

Q & A Wayne John Costello – (m) 630-235-3202 (p) 847-354-6114 Robert Isherwood – 404-510-8857

John Costello, CEO/President Wayne Whitesell Robert Isherwood, CEO Cherry’s Industrial Equipment Great Game Certified Coach AMBAC International Elk Grove Village, IL Oklahoma City, OK Columbia, SC jcostello@cherrysind.com wwhitesell@ggob.com Risherwood@AMBAC.net 847.354.6114 800.386.2752 404-510-8857 Thank you. Please fill out our Feedback it’s how we help you have a better conference next year!

Handouts • Copy of Slide Deck • Books and Resource’s • Robert’s Emergency List • MiniGames & Challenges: • AMBAC Get Sales Smokin ’ • AMBAC Cash i$ King • Cherry’s Industrial Equipment Black Swan Game Plan