Are You At a Crossroads? The Best Way to Save a Failing Business

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Are you kidding yourself that your business is doing okay?

How long have you been saying to yourself, “Something needs to change?”

How close are you to going back to the cubicle farm or moving in with relatives?

The capacity of the human mind to protect us from bad news is truly amazing.  We can ignore a problem that’s staring us in the face almost indefinitely.  Then, one day, we get one of those straw-that-breaks-the-camel’s back events.  I call it a Crossroads Moment.  Think Scarlett in Gone with the Wind digging radishes and saying, “As God is my witness, I’ll never be hungry again!”

Have you had your Crossroads Moment?  Should you have?

It’s not easy to admit to yourself that you need to save a failing business.  It’s easy to believe that your business is just about to turn the corner, that everything will be fine if you just give it time, that all you have to do is hold on a little bit longer.

First, the bad news:  It’s very possible you’re relying on hope as a business strategy to save a failing business.

Now, the good news:  The sooner you accept your business is in trouble, the faster you can take action, and the better your odds of rescuing your company and retaining control of your own destiny.

The Best Way to Save a Failing Business

Few things sadden me more than the phone call from the person who’s waited too long.  They’ve done so much hard work, sweated bullets, given up luxuries like eating at McDonalds, just to make their business work.  But in spite of their best efforts, there’s a missing piece that’s edging their business toward the precipice where they become one more failed business statistic.

Do you know what one thing kills more businesses for solos and micros, especially consultants, coaches and service providers than anything else?

The unwillingness or inability to put in place a strong, effective sales process.

If you don’t have a strong, effective, sales process in place, then it’s time for you to ask yourself what’s getting in the way of owning the best way to save a failing business?

  1. Don’t know what a strong process looks like?
  2. Don’t really want to sell – just want do deliver the service/product?
  3. Delivery takes so much time – no time to market yourself or prospect for new customers?
  4. Selling feels fake, hokey, unnatural, uncomfortable?
  5. Afraid to ask for the order, worried that you’ll be rejected?

If these are the kinds of issues you’re up against, you won’t succeed if you insist on going it alone.  You need the help of someone else who’s been where you are, and who can help you find your way out of the jungle.

Take Action – Make This Your Own

Regardless of whether you work with me or some other trusted advisor, take action.  Procrastination and denial at this point will kill your business.

Overcoming the issues you’re facing may be less difficult than you think – I’ve seen hundreds of people do it.  Saving a failing business is actually straightforward, but it’s not an overnight process.

Take action now.  Find a guide you can trust, one who has a proven track record of getting people out of the jungle, and helping them get comfortable and confident in their sales process .

And once you find that guide, get on board with them right away – even if it means investing a substantial portion of your reserves.  You need as much runway as you can get if you’re going to get back in the air.  By starting right away, you have more time to make the changes you need to in order to make a difference.

Don’t wait to become a failure statistic.

You can also check out these related posts:

Do You Have a Business or a Hobby? 4 Serious Questions to Tell You Which
Avoid the Instant Expert – 5 Quick Steps to Separate the Burger from the Bun
Soldier On or Pick a New Direction? One Thought on Choosing

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Comments

  1. says

    Hi Pat,

    Between your coaching and the CDI COIN program, I now have a good script for initial interviews of prospects. I’m looking forward to soaking up as much as I can from KBST.

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