5 Incredible Business Turnaround Stories

From bankruptcy to brilliance.

5 Business turnaround stories that will blow your mind:

— Marketing Max (@MarketingMax) March 16, 2023

What’s better than a comeback story?
How about 5 comeback stories? 🔥
For each story, I include lessons you can learn.
LETS GOOOOO!!!!

— Marketing Max (@MarketingMax) March 16, 2023

1. Starbucks

In the early 2000s, Starbucks expanded quickly and lost sight of its core mission, forcing them to close hundreds of stores.

CEO Howard Schultz refocused on quality, strategically closed underperforming locations, and completely revamped the customer experience. pic.twitter.com/zBD5ezstbr

— Marketing Max (@MarketingMax) March 16, 2023

The lesson.

Stay true to your mission, prioritize quality, and be willing to take steps back to achieve long-term success.

— Marketing Max (@MarketingMax) March 16, 2023

2. Lego

In 2004, Lego was on the brink of bankruptcy due to mismanagement and a failure to adapt to the digital age.

The company refocused on its core values of creativity and imagination and embraced new technologies like Minecraft to reach a new generation of children. pic.twitter.com/puxA9csttK

— Marketing Max (@MarketingMax) March 16, 2023

The lesson.

Stay true to your core values, but be willing to adapt to changing market conditions.

— Marketing Max (@MarketingMax) March 16, 2023

3. IBM

In the 1990s, IBM was struggling to stay relevant in the rapidly evolving tech industry.

Under the leadership of CEO Lou Gerstner, the company shifted its focus from hardware to software and services, which led to a dramatic turnaround in the company's fortunes. pic.twitter.com/Fi27QjSziX

— Marketing Max (@MarketingMax) March 16, 2023

The lesson.

Be willing to make bold, strategic decisions to adapt to changing market conditions.

— Marketing Max (@MarketingMax) March 16, 2023

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— Marketing Max (@MarketingMax) March 16, 2023

4. Marvel

In the late 1990s, Marvel was on the verge of bankruptcy due to mismanagement and over-expansion.

The company refocused on its core comic book business and began licensing its characters for movies and merchandise, leading to a resurgence in popularity. pic.twitter.com/iTwyaeC3qP

— Marketing Max (@MarketingMax) March 16, 2023

The lesson.

Focus on your core strengths and be willing to license or partner with others to expand your reach.

— Marketing Max (@MarketingMax) March 16, 2023

5. Apple

In the late 1990s, Apple struggled to compete with Microsoft and other tech giants.

Under the leadership of Steve Jobs, the company refocused on design and innovation, releasing game-changing products like the iPod and iPhone. pic.twitter.com/O1BfVUZuyz

— Marketing Max (@MarketingMax) March 16, 2023

The lesson.
Invest in innovation and design, and be willing to take risks to create something truly revolutionary.

— Marketing Max (@MarketingMax) March 16, 2023

Summary:

It’s not over until it’s over!

It doesn’t matter what you or your business is going through; it’s not over until you’re dead.

But you must put in the work because your situation won’t turn itself around.

— Marketing Max (@MarketingMax) March 16, 2023

Thank you for reading!

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— Marketing Max (@MarketingMax) March 16, 2023