Business is tough at any time but with the recession it is very hard!
More and more businesses are just surviving and a good chunk of them heading down the slippery path of perishing by the day.
So how do you turn your business around from just surviving to thriving or if you are on the slippery road and is perishing, can the business still be turnaround or not? If your business is just surviving yes there is a great chance it can be turned around to start thriving even in a recession. But if it is perishing then to save the business we might need to consider insolvency as a means of resuscitation to try and bring the business back to a new lease of life and get it climbing back up to recovery and then looking at ways to make it thrive, recession or no recession.
How can you tell if my business will just survive or perish rather than survive and then thrive?
There is a very simple test and you can do this yourself for any business. The test is are you working hard for your business or is the business working hard for you? So which one do you think is on the critical list and which one is thriving? Yes you got it, the business that is working hard for you is the one that is thriving.
So How Do You Make The Transition From Working In The Business To Working On The Business?
This involves planning, you see most people who own and run businesses are too busy working in the business to understand what working on the business means. This is mainly due to when you start any business, you must go through three stages, think about, plan it and then do i.e. make it happen. Over 90% of small businesses skip the second bit about planning and think they have a clear vision of what they need to do and just simply jump the gun and just do it anyway. This is where the problems start by not having a clear strategy that has been defined and refined till it is in a business model than can and will work. By planning and testing not only are you clear on your way forward but your team employees as well can now see what it is that you all have to achieve in order to thrive.
Business Tactics V Business Strategies
Tactics are great to get the rent paid or to get cash in to pay a bill or two as long as that is not all that you end up doing, running around for cash to pay bills. That is what happens when you start working in any business you get distracted with tactics every moment of your day because you have not thought about a clear strategy that will help you get over the initial cash flow situations till the orders start to flow. Tactics are short term activities to generate cash but in order to plan long tern you need to create and implement tried and tested strategies which will end in you owning a thriving business, one that will be working hard for you and not the other way around.
Creating Tried & Tested Strategies
To create powerful tried and tested strategies for your business you can learn by reading or attend seminars or by hiring strategy consultants. Alternative to that is to work with a Mastermind Strategist. What’s the difference between them all? The consultants and the seminars as well as the books will teach you what to do only. But the Mastermind Strategist will not only what to do but this is the most important bit – he or she will show you how to do it as well. You see any one can tell you what to do but how to do it is the key to any successful strategy that will make the difference to you and your business success.
So over the coming months where will you be and where will your business be regarding Thriving, Surviving or on the slippery road to perishing?
Don’t just sit there and think about it because that is not going to change the situation you and your business are facing. Doing something about it by acknowledging that you need expert advice and support is a step in the right direction. The next step is to seek out a good mastermind strategist who can work with you through these difficult times, someone who has many years of experience turning struggling business around.
Don’t leave it till it’s too late as you will have fewer options to turn your business around, make it easy on yourself, starting today.
Think Big – Stay Small – >>Move Fast
Latest posts by Moe Nawaz (see all)
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Filed under: Business Turnaround
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