How Do You Save Your Failing Business?
“It’s even worse than I thought it would be,” I told Steve. “Everything is completely broken. Revenue is cratering. Product quality is horrible. The strategy sucks. And I think the team needs be completely replaced….
“Besides that, everything’s great,” I laughed.
I had taken over one of three divisions the company had three months prior. I spent the previous three months assessing what needed to be fixed.
I knew going in that there would be problems. However, I never thought there were going to be this many problems.
You can feel like you’re overwhelmed when your business is faltering.
It can feel like you don’t know where to start when your business starts dropping. I’ve been there, so I know what you’re going through.
You can follow the same three-step process I followed when the business I was running was in trouble. But I’m going to start with an important pre-step you can take BEFORE your business falters:
Pre Step: Develop A Worst Case Plan
Far too few people develop a downside plan, but you shouldn’t be one of them. You’re clear headed when your business is going well, so now is a great time think about the what-ifs. Here are…
