7 steps to successful turnaround

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© Copyright One Sherpa Pty Ltd 2009 7 Essential Steps to a SUCCESSFUL BUSINESS TURNAROUND

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Page 1: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

7 Essential Steps to a SUCCESSFUL

BUSINESS TURNAROUND

Page 2: 7 Steps To Successful 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.

Page 3: 7 Steps To Successful Turnaround

© 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.

Page 4: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 2 – Review your costing and pricing

The next step to turning your business around is knowing ALL your costs.

PeopleProduct AdministrationDistributionMarketing

Page 5: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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.

Page 6: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 3 – Establish a winning proposition

A good rule of thumb is to realise that customers have NO spare time or spare money.

Page 7: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 3 – Establish a winning proposition

Therefore to buy from you they must stop buying from someone else.

Page 8: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 3 – Establish a winning proposition

You must have something they want so badly they are prepared to sacrifice to buy from you

Page 9: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 4 – Find a lead generation accelerator

Where are all your customers?

Page 10: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 4 – Find a lead generation accelerator

Where do they look for new ideas or solutions to their problems?

Page 11: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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!

Page 12: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 5 – Capture every opportunity and follow it

Do you have a method of recording every opportunity that comes your way

Page 13: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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

Page 14: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 5 – Capture every opportunity and follow it

Start a customer relationship management system and stick with it EVERY DAY

Page 15: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 6 – Establish targets for closing sales

You will miss every target that you don’t focus on.

Page 16: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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.

Page 17: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 6 – Establish targets for closing sales

Without targets you can find yourself drifting from one day to the next without any real purpose

Page 18: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 7 – Collect cash as fast as possible

Cash is the key to your business moving forward.

Page 19: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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

Page 20: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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.

Page 21: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Step 7 – Collect cash as fast as possible

More cash in than out will make you

successful!

Page 22: 7 Steps To Successful Turnaround

© 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

Page 23: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Are you a business owner?

Page 24: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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?

Page 25: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Are you worried that another year of your life will pass you by, and you'll have made no real progress?

Page 26: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

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…

Page 27: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

and give you specific, targeted advice about how to turn your business around…

Page 28: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

and unlock the true wealth and potential locked up in the business you already own?

Page 29: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

It's easy, it's simple, it only takes one minute, and the best part of all, it's 100% free:

Page 30: 7 Steps To Successful Turnaround

© Copyright One Sherpa Pty Ltd 2009

Take you FREE business check checkup at:http://www.oneminutebusinesscheckup.com