Review, Recover, Rebuild
Whilst a market is emerging and growing, demand is high and pricing is at stronger margins.
The challenges start when the ‘wind changes’ and either a market declines or becomes saturated; equally it may be technology changes, buying habits or an economic downturn that has caused the issues.
Often we don’t see the change coming! Or when we do it can be difficult to address.
All too quickly this can cause unrest in the camp, often the better employees leave, the cash tightens, sales drop, margins are tighter and overall profits are less or losses grow.
This can’t be sustained, so where do you start, what is the likely outcome and what are the steps needed to get back to profitability?
This a well trodden path, it probably happens to 30% of business owners at some time in their career and it’s important not to feel alone.
"Change before you have to" - Jack Welch
"Its tough when markets change and your people within the company don't" - Harvard Business Review
There are a number of questions to ask but the first one starts with yourself and how are you spending your time:
You have to constantly free your time and if you are unable to do so you need to ask; why?
You know you business best, it is your concerns that would be top of the hit list.
We would then help highlight the different areas for your consideration.
Get the foundations right and you can build and grow again.
This will help you regain control, protect your interests and get back on track.
We put you first and the rest will follow.
We like to go ‘off-piste’ with our business plans; we explore all the options, the sector, the people, the infrastructure, the challenges, the opportunities – it is often a variation on a current business theme that your company will ‘morph’ into, but just as a different business model.
Within our team of ex and current Business Owners we have seen most things before, and can quite often quickly come up with a recovery plan.