How do we break
out of this box? Can we eke more profit from our sales?
Issue 1: is
this really a problem?
You own the company- perhaps with a few
friends or acquaintances. No investors to satisfy. So, is this
really a problem that our sales are not really increasing? After all,
we all get to go home at 5 PM, we don't have to seek out new employees, we
have enough cash to do what we want. Given these facts, who cares?
Potential solutions: Stop looking
at the stagnant sales pattern as a problem.
Issue 2: Investors are becoming anxious
Our investors planned to cash out this coming year.
They are not happy that we have not grown the business, which means their
multiples are not being met. They may even decide to get rid of us and
bring in other folks who can start growing the business.
Potential Solutions: Bring in a
temporary CFO, COO, or CEO, to train your existing people and, in the interim,
get your sales volume up. Examine your marketing efforts to see if you are
reaching your intended audience.
Issue 3: Competition
We did not expect to have these competitors so soon.
Now, instead of cherry picking the best customers, we must fight for each sales
Potential Solutions: Perform a a
head-to-head comparison to your competitors- not just the product, the entire
experience. Determine which (or how many) items need improvement.
Prepare a concrete plan to change these facts - now.
Resources on our website for these issues:
(don't forget to check our blog-
there is an index to the right of the blog!)
Change your business stragety
Planning in a difficult economy