A business owner I’d worked with years ago called me last week, his business has been going downhill for years. When he purchased the then profitable business from his father, there were 25 employees and the future was bright. Today, he has two employees and is on the verge of closing the doors. He was looking for ideas on what to do to save his business.
We discussed his situation; it soon became apparent that whatever I suggested would be too little too late.
From our conversation I learned some important facts.
- From the day he took over the business he continued using his father’s strategies and techniques. Why change? They worked – until they didn’t.
- He never questioned his marketing, his plan, his customer’s needs or his relationships with them. After all the business was thriving – until it wasn’t.
- He believed his business would go on forever just the way it always had – until it didn’t.
Business today demands constant renewal, alternative plans and strategies necessitating the continual review of benefits for customers and employees. Relying on yesterday’s success doesn’t work.
There’s an old saying, “If you always do what you’ve always done, you’ll always get what you always got”. This business owner realized too late that to continue to be successful, he should have been changing with the times.
Words to remember as you move forward: evaluate, renew, question, re-invent, update, repeat.
The road is easier together,