Comfy on your plateau?

At some stage in the life of any business there comes a time when it reaches a plateau. When sales fail to grow and are static at best. Margins start to slip as the sales force become more and more desperate to achieve their targets and the directors are looking for answers to this dilemma. They try short team fixes, poach a competitor’s sales rep, revamp their website, all to no avail.

What they need to do is an analysis of their business. There will be a need for improving the efficiency and revenue generation of sales teams but also data analysis of what is selling or what is being won in which areas and which markets. If it is products rather than services, have words with your suppliers. Are they the right suppliers/products? Where can you diversify? Which clients/ products/services bring in the best returns? Do you get customer feedback? Is your customer service enhancing or destroying your business? Where can you upsell? Where is there new business to take? Are we using the right platforms? What about marketing? What needs to change?

These are some of the questions before you can revolutionize your company. The answers to these questions will give you the building blocks to compile a new strategy and devise different tactics for achieving your goals.

You may need to take a different path, revamp your product/ services offerings with added value enhancements or make some adjustments to make trading easier for your client base.

Transformation of a business is no easy task but the earlier you start to correct what is wrong the faster it will improve. Hope is for the lost, action is what's required.