top 7 ways to turn around any business. by tahir chaudhry, pakistan
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By Tahir Chaudhry
CEO, Falcon Engineering, President (Rwp/Isb Chapter) & CEC Member,
Computer Society of Pakistan
May 22nd, 2008 1
May 22nd, 2008 2
www.turnaround.org
Established in 1988, TMA has more than 8,100 members in 43 chapters, including 31 in North America, and one each in Australia, the Czech Republic, Finland, France, Germany, India, Japan, the Netherlands, Southern Africa, Spain, Taiwan, and the U.K., with chapters in formation in China and Italy.
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Pharmaceutical Financial Sector SME Corporations Education Government ICT So many other
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Do they want to sell the business,
Stay in the business,
Just close up and walk away?
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Competition analysis Suppliers Employees Customers Money Marketing Alliances Communication
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Systems and processes Time management
Turning a failing business around is possible - you just need to be willing to take the hard look at what got you there in the first place and then act on it before it gets out of hand
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IDENTIFY
which product/service is your most profitable, regardless of what your core business is or what you thought it was.
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if you haven't done it already. (my apologies to the middle managers on this list) ohhh, yeah, fire any Sales Manager who has forgotten how to sell.
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When the going gets tough, that is the BEST time to kick UP your marketing campaigns and pushes, as you need its results more than any other time. If you don't, you'll be advertising your business anyway soon....in the "Biz 4-sale" column.
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: Ask yourself this question: "Which expense are NOT contributing to our profitability or our customers delight?"
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Wide focus = No focus.
You must narrow it and narrow it, and narrow your focus, until all that you are doing, is that which niche you CAN be #1 in your marketplace.
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EXPECT TO WIN: Start your day with a 'knowing' that no matter what happens, you always succeed, because that is just the kind of person you are. Failure is only part of the game, but quitting is serious defeat.
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Whip out your guerilla marketing books, and when all else fails, and speaking from a lot of failure myself, I can tell you that MASSIVE INTELLIGENT ACTION directed towards driving sales UP can usually solve 90% of whatever went wrong in your business.
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Thanks !
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