When sales are flat, staff morale is low and you're just getting by without growing your customer base, it's time to jump-start your business. Many business owners get into the routine of "it it's not broke, don't fix it", but long-term successful business owners seek to rejuvenate and continue to grow within scope. Often, changes such as adding new products and removing stale ones, changing costs, advertising and adding new staff can breathe life into a business.
Instructions
1. Meet with your staff to brainstorm your company's opportunities for new products and services. Review weak, poor-selling and unprofitable offerings, and remove or tweak them to enhance your business. Make plans for creation of new products that will kick start your company's sales.
2. Lower your prices. In an unstable economy, people may not be willing to shell out money for anything extra. If consumers perceive your business as high cost, people may not patronize it thinking they cannot afford your products and services. Research similar businesses and charge less, making you more affordable for customers.
3. Launch an advertising campaign. If you are not currently advertising or relying on a website or phone book listing for all your marketing, you may not be attracting new customers to your business. Get the word out about your business by placing strategic print, radio and television advertisements as budget allows. Refresh your website, and make it stand out by adding new technology, clear explanation of your products and services, and making it more user-friendly, while keeping a professional look.
4. Hire a consultant to analyze your business. Have the consultant review your current operations, marketing, finances, products and services to make recommendations for opportunities for improvement. Implementing the ideas of a professional impartial third party may be the jump-start you need.
5. Hire a new manager to reinvigorate staff and bring new ideas to the table. You may need a jolt of creativity or a dynamic leader to come on board to rejuvenate your business. You may be surprised at how much one person can jump-start a stale business and motivate employees to perform at a higher level.
Tags: your business, products services, business owners, making more, your company, your products