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A small business blog featuring tips to help entrepreneurs succeed in the small business world. Topics include family business, human resources, marketing, money, networking, operations, ownership, startup, taxes and technology.
Revitalize Your Stagnant Business
When you first started your business, the excitement was raw and tangible. With every step forward everything in you wanted to jump for joy, though you contained yourself (most of the time). Your dream was becoming reality. Your business was seeing success. Life was just plain good.
Fast forward a few years. Same dream, same business, but with a different feel. You’re still making money and still a success, but the excitement is all but gone. So, what’s the deal?
When a business is in its first years, you are establishing a structure. The problem is, once that structure is established, everyone thinks that it shouldn’t change — to stick with what you know (because that’s the easiest way). It becomes a comfort zone and no one wants to depart from a comfortable location. Besides, very few people deal well with change.
But change is exactly what you may need. If aren’t prepared for change, your business may reach a plateau — no gains or loses, just one stagnant line of the same old thing. The passion you had when you started the business will dwindle and may be snuffed entirely.
It’s time to revitalize! Not only will it put the flare back into coming to work each day, but will also provide for an opportunity to boost sales.
1) Get Everyone Involved
Make the revitalization a team effort. Get everyone together and let them know that it is time for change and that you’re serious about the venture. Get everyone’s input.
2) Reevaluate Core Elements
Examine the important stuff and make sure it is working. Is your logo really making sense to the customers? Does the name truly reflect the company and the product? Is it time for the vision of the company to take an alternate route?
3) Brainstorm New Ideas
Try to create a new element to the business, whether it’s a new use for your product, or a new product all together. Try a new advertising outlet. Don’t forget to include everyone. A great way to accomplish this is to have each employee write down five new ideas for the business. They may not all be great, but some are bound to at least get the juices flowing.
4) Eliminate the Tolerations
Every company has something they are just “putting up with” because they don’t want to go through the process of finding something else. But those tolerations are holding you back. Figure out what they are and find a way to make them into something you’re excited about.
Your business should always be evolving. Consider having a yearly revitalization meeting so that you keep the fire going. After all, no one wants to see their dream become another bland day at the office.
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