When Growth Stalls
When your business has stalled or is perhaps dying or When something is wrong but you cannot identify what
Maurice Watts
Last Update 9 months ago
The remedy is similar in each case since it is likely that a fresh, outside, view will help you to get a new perspective on both your business and the marketplace(s) within which it operates.
When sales are falling, clients are leaving, customers have abandoned you and the future is looking bleak we can examine root causes and advise on what to do.
Some possible causes for business challenge are underperformance of the company and changes in the Marketplace.
Firstly, If underperformance is the issue, by following a method to:-
• Analyse,
• Identify,
• Quantify,
• Define,
• Implement and
• Monitor
…………. your strategy and implementation, we can often make a big difference.
Secondly an examination to see if there are New Markets that can be addressed easily or, if there are New Products or services, that you can provide, then that might be a route to improvement or salvation.
We can often provide creative and analytical inputs aimed at identifying new markets and opportunities. We can support this with market research if necessary.
Thirdly there are situations where leaving, closing or selling, the business really is the only option. In this event, realising this as early as possible may, at the least, reduce the financial damage and at best allow an exit strategy such as sale or equity transfer.
Please realise that :
When times are tough, it is tempting to cut marketing expenditure but you should realise that you leave yourself silent, weak and blind in your marketplace.
With expert help, perhaps something can still be done on a low budget even if only enough to tell your clients and peers that you are still around to do business with and encourage them to re-engage.
If your competition cannot or will not do even this, then you are ahead when things improve.