Discover The Power Of TurnAround
Strategy Of A Business.
Fixing A Broken Biz 101.
When your business "breaks" will you know how to fix it?
Turnaround strategy of a business requires that you
view your business from a systems perspective.
One of the most frustrating problems you will encounter as a new business owner, is the reality that something is not working right.
In spite of all the work that was required to hoist your business into existence, you will begin to realize that customers just aren't coming in like you'd thought.
In fact, you'll find yourself spinning your wheels just to figure out what is happening, and why it is that your business suffers.
When your business begins to flail about, you'll find yourself wondering if there is something wrong with your product or service mix or if somethings a little off-key with your promotional approach.
You'll have an unsettling feeling that something, somewhere needs to be fixed.
But here's the mystery to you:
- You don't really know what it is that needs to be fixed...you'll think:
- "Maybe, I should starting selling X, then my business may pick up a little more," Or
- "Maybe if I advertise a little more, then I'll get more customers."
So, then you do THAT thing that sometimes gets new business owners into trouble: you go on a gut feeling.
"Hmm," you'll begin to think to yourself, "Maybe if I just increase my advertising budget, then I'll get more customers coming in."
Here's the challenge of going with a gut feeling.
A gut feeling may point to the problem, without offering you a solution.
Thus, you've got to find a way to move beyond gut feeling.
Your small business success hinges on tweaking your business so that it will work.
- Thus, you've got to focus on some sort of strategy that gives you a richer insight into what your business can do to solve the problem.
- You've got to find a way to use strategy to turn-around your business: to directly pinpoint the problem and point to a probable solution.
The key involves investigating the turn-around strategy of a business and viewing your business as a system.
A "Systems Pair Of Eyes" works like this.
It recognizes your business as a system composed of a myriad of activities that have to take place to determine whether it will make it or not.
A systems view helps you recognize your business for what it really is: a system, an accumulation of activities composed of:
- Internal processes,
- External processes,
- Employee interactions,
- Customer interactions,
- Competitive interactions,
- Product, service, and experience mixes,
- Financial realities,
- Community realities,
- Worldview realilites,
- As well as a host of other variables that influence your small business success.
There is great danger in relying solely on your gut feeling.
The danger of relying solely on your gut feeling however, is tied to when your business diagnosis needs to go beyond the obvious.
- Your gut feeling alerts you that something is wrong, and oftentimes point to the obvious.
- However, there will come a time when the source of your business's underperformance goes beyond the obvious.
Give your business an edge by adopting a systems view of business performance.
- Employing sound turnaround strategy of a business requires that you look beyond the obvious.
- A system views gives you to tools to begin to assess exactly what it is that has gone wrong.
Here's to giving your business an edge by looking beyond the obvious!
Signed: Latarsha Lytle, MBA, small business success strategist, motivational coach, and your biggest fan!
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