Business Advice for a Comeback Plan

Maintaining a successful small business in today’s competitive market is hard. Oftentimes, by the time a business owner acknowledges that the company is in trouble, it’s too late for a turnaround. At PORTAL CFO Consulting, we help businesses facing challenges that seem insurmountable, stay in business and make a dramatic comeback.

How can you tell when you are headed in a direction that could benefit from some outside expertise? Following are some questions to ask yourself regarding your business. If your answer is yes or even if you are unsure of your answer, it’s likely you could benefit from an outside perspective!

  1. How is your employee turnover? Does it seem that the revolving door keeps on turning? High employee turnover often indicates your employees’ lack of satisfaction or faith in the company’s success. In addition, when someone does leave, is their position filled immediately or are their responsibilities shifted to another employee? If the positions continue to shrink while job responsibilities of remaining employees increase, that may be a sign of distress.
  2. How long has it been since a new idea or change has been embraced? Failure to consider new technology or new ideas that may effect positive change indicates trouble.
  3. Does your business have anything unique or something that differentiates you from others in your market category? If you can’t identify something that makes your business offer some sort of unique selling proposition, this sends up a red flag.

At PORTAL CFO Consulting, our turnaround consultants can analyze your business and help identify potential issues that are causing problems. We offer individualized business advice to get you back on track. We provide hands-on strategic planning that gets results by reviewing marketing strategies, analyzing financial strategies, looking at ways to cut costs, and suggesting ways to improve business relationships.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more information on business analysis, business planning, and ways to grow your small business profitably, please check out our website www.portalcfo.com.

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