Here at Nelon, were often approached by already established businesses who have unfortunately stagnated and arent sure why. We appreciate that its hard to pinpoint that reason when youre in the thick of it, and were on hand help.
A business can languish for one or many reasons; staff drop-off, limited product offering, customer retention issues, or your marketing messaging isnt being heard.
Starting with an internal audit will help identify if and where there are problems within the business.
Seeking professional help
We call this a Situation Analysis, and we love doing it.
We advise you to look at these key areas:
- Make sure youre maintaining a consistent bottom-line profit and that youve shown steady growth over the past few years
- Look at the trends, both economic and consumer, for indications on your companys staying power
- Does your location provide everything you need to serve the customer and your team
- Are your administrative systems and management teams extraordinary
- Do you and your staff know what you do? Hows the message getting across internally?
- Are you sure youre focused on the customer experience?
It is rare when a business can successfully operate and grow without talented people. In fact, we often talk about our people being the only asset we have to sell and we are always looking for ways to improve our culture, our benefits, and the reasons why employees would want to keep working for us.
I believe that many companies forget that true loyalty comes when employees believe that the organization and its leadership team care about them personally and professionally. This ultimately results in long-tenured employees, which has a very real and direct effect on company growth.
When you love what you do it shows to the people surrounding you every day in the office, facility or production plant. Showing excitement and enthusiasm cannot be emphasized enough in terms of how it relates to your team working harder, being more focused, and ultimately more successful at their job.
This translates to a better end-product, and these people will be your greatest PR asset.
As a business owner, taking stock and acknowledging something needs to be done could be the most important deal you do today.
Nothing happens until somebody sells something.
Thomas Watson, Founder, IDM