hired a SWOT analysis consultant as CEO. Step one in righting the ship: Fire Joly immediately and then be honest: The Best Buy board should tell investors it overpaid millions for what wasn't even a very good PowerPoint presentation by Joly at the company's recent investor day. Investors appreciate that type of honesty. Ask Patrick Doyle at Domino's Pizza ( DPZ) about how to execute a tech turnaround in retail. The guy is absolutely not a loser CEO. Step two: Name Stephen Gillett, currently a Best Buy President, CEO. Give him free reign to spend the dollars -- like Marissa Mayer has at Yahoo! ( YHOO) -- to assemble a tech and marketing team for the ages at the company. He should be able to pick through current Best Buy staffers and keep only those willing to purge all scent of old-school retail from their blood. Step three: Stop this fantasy of competition with Amazon.com ( AMZN). Jeff Bezos handed Best Buy its buttocks about a decade ago. Best Buy never actually fought the battle, but it was lost. Five, 10 years ago the answer might have been to beef up your digital presence, make stores smaller and focus on customer service. That's not the answer now. You're too far behind. That approach absolutely cannot work.