Thursday, May 26, 2016

10 Vital Steps To Resurrect Your Business From The Dead

So your business has slowed to a creeping crawl? Or perhaps it is gasping for air. I hear you man! I've been there too. If it appears your business has taken it's last breath do not despair. I've successfully revived many businesses over the past decade and can honestly testify, there is life after death.  So how do you resurrect your business from the dead? 

Business Resuscitation

All that is needed to bring your business to life is a little resuscitation. A company revival plan is the key. 
Call your staff together and discuss the matter. Ask questions and record responses. Why are there less hits and more misses? Why are our customers not coming back for more? Why are referrals slowing? What do you think will make the difference?

Examine Internal Issues

Examine the business from the inside out and see if there are any hidden internal glitches that are sending clients and customers the other way.  Do some interdepartmental business process troubleshooting.  Are there internal communications and coordination issues between departments? Go out into the field and work with your team to see what improvements can be made. 
Next focus on Marketing and Sales. What actions or lack thereof failed to generate desired growth in sales and lead acquisition? Why?

Focus On The Competition

Examine closely the growing competition and find out why customers are streaming there. Interview their clients and closely examine competitors customer rating and feedback reports.

If you're still looking for answers it may be time for some enhancements. Look over this amazing and effective list of business revival techniques and choose the items you know will work best for your company. 

10 Business Revival Techniques

1. Improve product, service and brand based on customer feedback.
2. Offer sales incentives your sales team cannot live without
3. Hold a user panel session
4. Improve customer service
5. Improve client and community relations by establishing a PR and marketing program
6. Acquire endorsements
7. Make a demographic targeted commercial
8. Consider branding enhancement consultation 
9. Follow the most effective steps of your most successful competitor
10. Review Your Business Plan More Often

Reviewing Your Business Plan

Review your written business plan on a regular basis and get back to the grassroots of your stated company mission and objective. Note the planned day-to-day business process flow and determine if you have veered off course in some way. Reexamine your written marketing strategy and focus on fulfilling all aspects of the varied stratagems as stated. If you don't have a business plan this may very well be the one sole reason your business needs a jump start.  Take the time to formulate the plan or even better get your hands on your competitors business plan. 

Fimark's Winning Business Plan archive has scores of plans that have been acquired from today's most successful companies. Access some of the most inspiring missions and useful objectives, effective business process flow plans and marketing strategies that have made these companies thrive for decades. Download a copy here