How to Turnaround a Struggling Business
If you're wondering how to turnaround a struggling business, this content may be what you need. You should know that struggling is a law of nature. Your understanding of it will enable you to swing with it and will move your business forward.
The simplest way to understand and appreciate this law is to observe the life of animals in the wild forest.
Let me digress by sharing my experience with you. I only watch television with family or friends, but you hardly see me alone watching it. Why? I often see it as a time-waster unless I'm watching a program that will add value to my life.
I believe the familiar adage that says "time is money." But it's more appropriate to say that time is more precious than money. If you lose money, you can make it back, but the time wasted is gone forever.
Whenever I see the opportunity, one program I love watching on TV is Animal Kingdom. I watched whenever the opportunity presented itself.
You will ask why? It reminds me often that life is a struggle, and only those that are alert and struggle smartly will be successful.
I've watched how lions mock an elephant's giant size and make it a meal because it's not alert enough.
I've seen the bulls kill a lion as killing a mere dog because it's not alert enough.
The animals' kingdom is a perpetual struggle for survival and to be sure of your next meal.
So life is about struggling. It's a law of nature. Understanding this law and swinging with it will help turnaround a struggling business.
Tips to turnaround a struggling business
The incredible thing about human beings about this law is that it helps improve life. So the knowledge of this law is the key to turnaround a struggling business.
It would help if you had the right attitude toward your struggling business to succeed. Show me one person with a negative mindset about a struggling business. I will show you a person doomed to fail in business.
I laugh when I see some entrepreneurs' running their businesses in this 21st century like sheer fun and not putting all their efforts into it. You won't succeed with that attitude.
To succeed, you must struggle smartly, and as you progress, you learn more innovative ways of doing business. Your success is guaranteed! Let me illustrate using a lion for better understanding.
- Alertness: When your business has challenges, you need to be more alert. You can correct the lapses by investing time and money to learn what works and is no longer working in your industry. It's your responsibility to continue learning and re-learning.
- Teamwork: It is usually when a lion goes hunting alone that it may get killed. Collaboration usually guarantees the lions' meals. So turnaround a struggling business will depend more on your business associates. Therefore you should strive to associate or partner with entrepreneurs who are doing well and can complement your business.
- Boldness: One of the attributes of a lion is braveness. It's courageous to attack any animal to ensure there is a meal. You must be bold to make positive changes no matter what it entails to put your business back on track, like doing something that scares you by stepping out of your comfort zone.
- Strategies: Lion's hunting strategies are calculated, unique, and differ for different animals. You can turn around a struggling business by applying various techniques for challenges. For instance, technology can help to overcome some obstacles. Some you need to diversify, and some can be by teamwork.
In the words of Dr Ben Carson, "I struggled academically throughout elementary school yet became the best neurosurgeon in the world in 1987."
The lesson to take home here is that STRUGGLING in your business signifies that you are on the verge of success. Keep going.
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