7 steps to successful turnaround
TRANSCRIPT
© Copyright One Sherpa Pty Ltd 2009
7 Essential Steps to a SUCCESSFUL
BUSINESS TURNAROUND
© Copyright One Sherpa Pty Ltd 2009
Step 1 – Test your business model
Your business model is simply defined as who you
sell to and buy from
and the terms on which you do that.
© Copyright One Sherpa Pty Ltd 2009
Step 1 – Test your business model
If you sell too cheaply or on unfavourable terms you are going to fail no matter how hard you try.
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Step 2 – Review your costing and pricing
The next step to turning your business around is knowing ALL your costs.
PeopleProduct AdministrationDistributionMarketing
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Step 2 – Review your costing and pricing
Once you know all these you can work out if you are recovering those costs in your prices.
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Step 3 – Establish a winning proposition
A good rule of thumb is to realise that customers have NO spare time or spare money.
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Step 3 – Establish a winning proposition
Therefore to buy from you they must stop buying from someone else.
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Step 3 – Establish a winning proposition
You must have something they want so badly they are prepared to sacrifice to buy from you
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Step 4 – Find a lead generation accelerator
Where are all your customers?
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Step 4 – Find a lead generation accelerator
Where do they look for new ideas or solutions to their problems?
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Step 4 – Find a lead generation accelerator
Who or what can get you to that crowd and put you in front of them to find out about what you have to offer?
That’s the lead generation accelerator!
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Step 5 – Capture every opportunity and follow it
Do you have a method of recording every opportunity that comes your way
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Step 5 – Capture every opportunity and follow it
You must be disciplined and record the opportunities or they will simply
disappear in the running of your business
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Step 5 – Capture every opportunity and follow it
Start a customer relationship management system and stick with it EVERY DAY
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Step 6 – Establish targets for closing sales
You will miss every target that you don’t focus on.
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Step 6 – Establish targets for closing sales
Closing sales is key to increasing the volume through your business
You need to know daily, weekly, monthly, quarterly what you are trying to achieve.
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Step 6 – Establish targets for closing sales
Without targets you can find yourself drifting from one day to the next without any real purpose
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Step 7 – Collect cash as fast as possible
Cash is the key to your business moving forward.
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Step 7 – Collect cash as fast as possible
Profit is great but until it is converted into cash you can not take advantage of that profit
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Step 7 – Collect cash as fast as possible
Make sure you know EXACTLY how the cash arrives and disappears in your business and maximize the flow of cash.
© Copyright One Sherpa Pty Ltd 2009
Step 7 – Collect cash as fast as possible
More cash in than out will make you
successful!
© Copyright One Sherpa Pty Ltd 2009
SEVEN ESSENTIAL STEPS TO A SUCCESSFUL BUSINESS TURNAROUND
Step #1 - Test your business modelStep #2 – Review your costing and pricingStep #3 – Establish a winning propositionStep #4 – Find a lead generation acceleratorStep #5 – Capture every opportunity and follow itStep #6 – Establish targets for closing salesStep #7 – Collect cash as fast as possible
© Copyright One Sherpa Pty Ltd 2009
Are you a business owner?
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Are you finding that you're working harder than ever, but at the end of the month you wonder
where all the money has
gone?
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Are you worried that another year of your life will pass you by, and you'll have made no real progress?
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How would you like to spend 60 seconds and get a business "health check" that will pinpoint the EXACT problem that your business is facing…
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and unlock the true wealth and potential locked up in the business you already own?
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It's easy, it's simple, it only takes one minute, and the best part of all, it's 100% free:
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