How do I know when it’s time to reinvent my services or products?
Here are some warning signs of business stagnation and decline:
Feedback from Customers/Clients. When you start hearing questions like: Do you have anything else? When will something new be in? Are you offering any more services? Have you thought about branching out? Clue after clue, the writing is on the wall. If you don’t reinvent your business in some form or manner, you will not have a demand for you to supply much longer. Take feedback seriously and begin to plan for and implement change throughout your business if you want to stay in business. READ MORE »
By now we should all be familiar with the benefits of the Global Positioning System. It’s in the cars we drive, the smart phones we use daily, and in ways in which we are not aware. We can punch in a location or address and be rewarded with a detailed route of how to get to our destination and how much time it will take. Detailed maps and obstruction-avoiding alternate routes are provided. If this sounds like navigating through the implementation steps of a business strategic plan, it is exactly that. First, you have to have a plan. READ MORE »
While there are several books dealing specifically with business finances, including A Guide to Financing Your Small Business and A Guide to Small Business Finances, any consideration of business growth has to encompass at least some discussion on financing options such as mergers, acquisitions, joint ventures and franchising. READ MORE »
Organic growth – that sounds like someone growing tomatoes in their backyard. But it also sounds healthy and many people are willing to pay a premium for produce that is grown organically. In reality, there are similarities between organic gardening and organic business growth. Both practices are based on using what is already occurring without adding unnecessary outside influences. READ MORE »