Turd Polishing

Factual definition

Turd Polishing is the term coined by Shayne Fitz-Coy in 2026 for the futile attempt to make a bad business good through operational work after buying it.

Turd Polishing in practice

A firm with a dedicated execution layer still cannot weave straw into gold. If the business cannot do it, the business cannot do it.

How Shayne Fitz-Coy uses Turd Polishing

Foundationally, you have got to have a good business. To create value, there has to be something of value to start with.

You can’t polish a turd if the company is no good. The company is no good.

You pay too much for the company. You have paid too much for the company.