From chaos to spring surf
Kimmo Kakko took over as CEO of Efetta on 1 April 2021 in a very challenging situation. The company had a loss of more than two hundred thousand euros from the previous year and the first 3 months of 2021 predicted that the loss for the coming financial year would be at least as large. And staff satisfaction did not seem to be at a very good level either, with an NPS of -37. One of the options seriously considered by the owners was to shut down the company if the direction did not change.
Efetta's Board of Directors gave the new CEO a clear and very simple sounding task, ”The company's profitability must be turned positive, and subito!” What the board failed to say, however, was that if a positive turnaround was not seen soon, the Via Dolorosa of the CEO and the company would be complete and the journey through the valley of death would begin. Kimmo, as a man of conscience, knew that Albert Einstein said, ”Insanity is repeating the same thing over and over again while expecting a different result”, so it was clear that the turnaround the owners wanted required a change in culture, organisational structure and performance. The situation was further complicated by both the COVID 19 pandemic and the war in Europe in early 2022, which had a wide-ranging impact on both the operating environment and the mood of the people. In the midst of all this, Kimmo himself was also preparing for the last years of his career before retirement.
After a very busy summer of 2021 and the following autumn, the Board of Directors was convinced after Kimmo's acute measures, especially when the loss of more than €200k estimated in April turned into a loss of ”only” €100k, that even small actions can make a positive difference. In addition, the Board approved Kimmo's proposal for a change of approach, which in retrospect also proved to be a successful solution for customers. Thus, at least the immediate Via Dolorosa was avoided.
But there was a lot of work to be done to achieve the outcome set by the government, as well as challenges. One dark morning - after a bad night's sleep - when the turnaround felt far too heavy, and desperation crept into his mind after introspection and ”self-doubt” (Kimmo's regular practice of self-punishment), Kimmo realised and accepted that he could not do this alone as CEO. Outside help is needed. Although he already had good peer support from a team of finance and management professionals, as well as his own wife, Kimmo realised he also needed someone with a broad view of the holistic and very lonely business of running a business. Someone with the ability to take into account all the necessary pieces of the puzzle at the same time, the staff, the customers, the board, the continuity of the company and especially its development.
Kimmo didn't have to think for long when More Than Training Company came to mind. Joshua, to whom I sent a text message doing the same. Joshua called Kimmo back a few minutes later, and what was supposed to be a couple of minutes' call turned into over an hour of sparring, during which the sun began to shine again, both outside and inside Kimmo's soul. This call sowed the seeds for the next 3+ years of shared journey of transformation and coexistence.
