Michael Kaiser is "the turnaround king." In his distinguished career, he has worked at Kansas City Ballet, Alvin Ailey American Dance Theater, American Ballet Theatre, and the Royal Opera House. Perhaps he is best known for serving as the president of the John F. Kennedy Center for the Performing Arts from 2001–2014. Michael has also written several books including, The Art of the Turnaround: Creating and Maintaining Healthy Arts Organizations and The Cycle: A Practical Approach to Managing Arts Organizations. In this episode, Erik and Michael talk about the traits that differentiate healthy arts organizations, how the cycle of marketing, fundraising, and programming work together, and how cutting marketing budgets is the absolute wrong move when faced with a declining audience.