Capitalizing on Uncertainty

Everywhere we turn, uncertainty reigns. In the capital markets. In executive suites. In the work force. And, even in our government.

Few if any of us have seen anything like this current environment before.

Just as with the horrific tragedy of 9/11, none of us had seen anything like that before.

Turning around troubled companies has always been difficult. Turning around a troubled company in the midst of a sliding economy is difficulty squared. And,

turning around a troubled company in the midst of a sliding economy which in turn is at a time of unprecedented uncertainty is difficulty cubed.

Perhaps it is the optimist in me, but I believe that there will be companies and individuals prospering in these times. In fact, I write regularly on that belief in my Prospering in Tough Times blog.

Recently, I had a chance encounter with an individual who has a long history of helping companies deal with uncertainty. The one hour discussion I had with this man, Paul J. H. Schoemaker, Ph.D., brought my beliefs about what is possible to new levels.

Shortly after 9/11, Schoemaker wrote a book, Profiting from Uncertainty, Strategies for Succeeding No Matter What the Future Brings. After spending the hour with Paul Schoemaker, I ordered the book and quickly devoured it.

This book should be required reading for any Restructuring professional. It is that good. (You can read my review here on Amazon.)

No, Paul Schoemaker is not a long time friend...or a client...or a family member. He is just an example of the kind of exceptional wisdom that this country...and specifically the Restructuring profession that I am hoping will lead the way...needs to absorb.

The times may be unlike anything we have ever seen before. But, there are professionals, among our midst, who have pieces of the puzzle for righting this ship. This country...in fact the world....needs that wisdom to be shared. No one person...no one firm...has a corner on the universe of wisdom needed to turnaround this economy in something less than 3-5 years. 3-5 years of hell!

With each day of missteps coming out of Washington, I am more and more convinced that this turnaround will come from the "field," and the speed of the turnaround will be heavily influenced by how quickly the Restructuring profession absorbs the need for new business models, new approaches, new thinking, etc.