Turn Around A Struggling Business

Many business owners and managers have reported financial setbacks and increased competition to globalization issues. Just because of the setbacks or these companies which are struggling to get ahead, does not mean their fate will be become your fate. It’s time to take a new look and approach at your company and your current situation. You’ll likely find many opportunities for growth right in front of you. We must embrace the change rather than get depressed as so many people often do.

Change is scary. Life is simpler when everything remains the consistent. To come through a changing economy unscathed, consider the following five guidelines:

1. Say a little prayer.

Religious or not you can always pray for your business.

One of the most important things you can do for your business is to pray for it daily. Of course you can’t just pray for success. If you can do something about your situation, then do it. Stop making excuses, stop procrastinating! There will be good days and bad days. Don’t give up on what you believe in.

2. Keep your employees motivated.

Remember one company, one team. Empower your employees to be the best they can be, especially those who do customer service or sales for you. Keep your management teams close and remember it’s better to over communicate with your employees. Brainstorming sessions can increase employee morale, an employee who feels heard will be happier and more productive. When you value your employees, you are empowering them to take responsibility for the company’s future. Motivated employees attract more satisfied customers, which in turn leads to increased sales.

3. Fine tune your marketing strategies.

How is your company’s visibility? Let your new customers or existing ones know you exist. Do you stand out from the competition? Are your customers aware of your services and product lines? Now is the time to tweak your marketing message, website, brochures, and business cards. These tweaks do not have to be expensive. There are many business templates which are available for low cost or free which can help you improve your overall marketing message. There are inexpensive options which are available, do not look cheap.

4. Focus on what you already have.

Your number one asset is your existing customers. Talk to them, learn their business. Can you make their business or lives easier in some way? You need to find out what your customers do or what else they need from you. But until you ask them, you’ll never know what they need from you.

5. Perform a cost and sales analysis.

Question everything, look at where you can reduce your overhead, thus showing more profit. Learn to negotiate for better vendor pricing on products and shipping. Check to see if you can find the same office supplies for less. Is your insurance company giving you the best deal?

Organize your client or customer database by industry. Which industries are still growing? Which industries are down? What opportunities do you have with your clients which are showing an increase? How can you help those clients which have a decrease? Be sure you look closely at overall trends, then you can see what opportunities are waiting for you.  

Only you and the decisions you make can create your company’s reality.

Do you and your business require business consulting?

A little about our co-founder, Dr. Brandon W. Stiner, is a guru in small business marketing. He became involved with marketing in the1990s, taking his first marketing job in 1998.  Some of the industries which he has been involved in are: Clothing, Electrical, Financial, Healthcare, HVAC, Insurance, Legal, Medical, Moving, and Pet products. As a multiple small business owner himself, he understands the complexity of marketing and the value print and online advertising.

Dr. Stiner does not agree with the old saying, “If you build it, they will come”.  He says many webmasters and designers have discovered, just building a website has no guarantee of website traffic without proper marketing. He has a Doctorate in Corporate Psychology from LBU in Shreveport, Louisiana.

Dr. Stiner has been a guest speaker at a handful of marketing events in Chicago and Los Angeles, he spends a lot of time working one-on-one with business owners and C-level executives developing endless ways to drive business growth.

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