At one time or another, many owners are faced with a business that has stalled out, and often it’s a simple matter of a sluggish economy and with a little patience things recover and growth resumes.
Look under the hood
For others though, their business has just plateaued and are at a loss as to how to regain their rhythm and push through to next level. When this happens, the first place I look is under the hood of the business. Is it structurally sound with the right people in place to go to the next level? In other words is the company ready, willing and able?
In many situations all the elements are in place. I then turn to the owner and ask “What made you successful?” “What did you do when you first started out to generate business?” Was it networking, participating in associations, cold calling and how much of that do you do now?
What typically happens is that we get so busy servicing customers and making money that we stop doing those things that made us successful in the first place.
So when you find yourself with a stalled business, ask yourself “What made us successful?”
I’m Greg Weatherdon and this has been your Small Business Minute.
Copyright © Greg Weatherdon 2015
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