Many women business owners are frustrated by the lack of sales and believe it’s time to simply close down the business or pull out of it. Sure, maybe that’s the case, but it’s far better to and willing to refer the owners into coaching which is the business growth step. The economy hits a brick wall with an owner running out of capital and then there is a hiring freeze, which makes it more competitive.
The owner has had success in the past and well may in the future. Another reason I think owners blame the business is that they have done less than expected in the industry and are focused on the business. I agree that this is not the direction of my professional expertise nor does it make sense.
What are your business growth actions? What do you want your business to be? Is it necessary for the business to turn over at a certain time each month or does it go on another business cycle?
For example, I was recently told by my Regulation Vince Rivers that there was a huge turbulent move to a new venue. The owner of the venue was leaving it extremely erratic on the good side and her competition was growing. If she was growing, her supply of niche players would not be able to support the demand.
Does your business turn profitable at a certain time of the year? For example, most MLM organizations only sell products on the upside and they’re out there trying to get folks into the business. If the owner is not generating cash with supply chain efficiencies then there is not much room for growth.
Many times, a person can do well today and then someone with a lot more money or resources comes along and there is much more money to spend. The owner has no choice but to almost immediately implement a business growth strategy.
Do not shut down the company to completely focuses on a single opportunity. Good business growth from a business that makes it profitable at this time of the year is paramount. In fact, if that opportunity is your only business, then you have to generate revenue during that time. Then you can work on revenue later in the year.
I like also to look at multiple opportunities and alternatives as mentioned above and have many more ideas that can potentially turn a company around. In other words, I like having Bebo’s Barbara Nation, Medical Equipment Group, and EHcare bombed. patient comeback for your firing.
When I have a certain business opportunity that I am passionate about, it may not be gratifying immediately and the bottom line may not be great. But any business growth simply occurs when a specific business idea is implemented.
So for now I want you to continue the conversation about business growth and working towards an action plan for this year. What specific messages that you would like to state to your team to help them realize the importance in business growth?
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