7 Steps To Successful Turnaround
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The document outlines seven essential steps for a successful business turnaround, emphasizing the importance of testing your business model, reviewing costs and pricing, and establishing a compelling value proposition. It also highlights strategies for lead generation, opportunity capture, setting sales targets, and ensuring quick cash collection. Additionally, it encourages business owners to utilize a free health check to identify specific issues and unlock their business's potential.
7 Steps To Successful Turnaround
- 1. © Copyright One Sherpa Pty Ltd 2009 7 Essential Steps to a SUCCESSFUL BUSINESS TURNAROUND
- 2. © 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.
- 3. © 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.
- 4. © 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. People Product Administration Distribution Marketing
- 5. © 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.
- 6. © 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.
- 7. © Copyright One Sherpa Pty Ltd 2009 Step 3 – Establish a winning proposition Therefore to buy from you they must stop buying from someone else.
- 8. © 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
- 9. © Copyright One Sherpa Pty Ltd 2009 Step 4 – Find a lead generation accelerator Where are all your customers?
- 10. © 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?
- 11. © 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!
- 12. © 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
- 13. © 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
- 14. © 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
- 15. © Copyright One Sherpa Pty Ltd 2009 Step 6 – Establish targets for closing sales You will miss every target that you don’t focus on.
- 16. © 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.
- 17. © 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
- 18. © Copyright One Sherpa Pty Ltd 2009 Step 7 – Collect cash as fast as possible Cash is the key to your business moving forward.
- 19. © 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
- 20. © 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.
- 21. © Copyright One Sherpa Pty Ltd 2009 Step 7 – Collect cash as fast as possible More cash in than out will make you successful!
- 22. © Copyright One Sherpa Pty Ltd 2009 SEVEN ESSENTIAL STEPS TO A SUCCESSFUL BUSINESS TURNAROUND Step #1 - Test your business model Step #2 – Review your costing and pricing Step #3 – Establish a winning proposition Step #4 – Find a lead generation accelerator Step #5 – Capture every opportunity and follow it Step #6 – Establish targets for closing sales Step #7 – Collect cash as fast as possible
- 23. © Copyright One Sherpa Pty Ltd 2009 Are you a business owner?
- 24. © 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?
- 25. © 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?
- 26. © 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…
- 27. © Copyright One Sherpa Pty Ltd 2009 and give you specific, targeted advice about how to turn your business around…
- 28. © Copyright One Sherpa Pty Ltd 2009 and unlock the true wealth and potential locked up in the business you already own?
- 29. © 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:
- 30. © Copyright One Sherpa Pty Ltd 2009 Take you FREE business check checkup at: http://www.oneminutebusinesscheckup.com