Don’t let your business die from indigestion

Here is a warning for the “lucky” businesses that are growing during the current business climate. Don’t let your business die from indigestion

Right now, there are various industries and businesses who are selling more that ever.

But this can be a curse if you don’t manage this period of “busyness” properly.

Why? Here are three reasons.

Reason 1 – Financial indigestion

During this time of increased demand, your business will need more resources. More people, more equipment, more overhead, etc,

And when, this period of “busyness” finishes, if you can’t scale back down those extra resources, you could end with a business with an increased cost base and your revenue back down to where it was before this period of busyness, or even lower.

In this situation, you have given you, and your business a case of financial indigestion.

Reason 2 – Process indigestion

Another issue business face in this time of busyness are the new and differing problems any business faces as they scale up very quickly. And how your business handles this can be a defining moment for it.

If you do this poorly and start to adversely impact on your:

Staff, for many businesses their biggest asset; or your,
Existing customers, for many businesses their second biggest asset,

you may lose them.

For example, if you place too much stress on your staff to deliver during the period of busyness, when the general job market improves your best staff will leave and you won’t have the right people to support your business going forward.

And, if you place your existing customers behind your new customers in terms of service levels, they may leave and not be there when the busyness is finished.

In this situation, you have given you, and your business a case of process indigestion.

Reason 3 – Innovation indigestion

When your business is so focused on this period of “busyness”, you have less time to focus on innovation and change. And it is always harder to implement change in a busy business.

You run the risk when this period of “busyness” is over, other businesses have innovated and changed for the better and you have not. You may have given your business a case of innovation indigestion and be left behind as the world recovers.

Summary

Enjoy the financial and other benefits of this period of busyness.

But don’t let your business die from indigestion when doing this.

If you want a confidential discussion on your business situation, contact me below

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Contact Wayne Wanders for your FREE Business Survival Session

To ensure I help your business specifically, the best approach I have found is to have an obligation free session with you. In this session we will review your current business in a factual and objective manner, to better understand the challenges that you face. And this session does not need to be face to face.

At the end of this session, you will have multiple ideas on how your business can survive and thrive in these uncertain times.

Simply fill in the contact form below or email me at wayne@aRealCFO.com.au or call me on 0412 227 052 to organise one of these obligation free sessions.

To get help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times, simply use the contact form on the left to email Wayne or call him on 0412 227 052.

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Let Wayne Wanders, a fully qualified and experienced CFO, help you successfully navigate your way through your financial challenges so your business can survive and thrive in these uncertain times.

Wayne Wanders, A Real CFO

wayne@aRealCFO.com.au

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