Rise Like A Phoenix

Statistics show that more than 60% of the businesses face closure within 3 years of the start. What is this due to? In spite of your best efforts, your business may fail. Failure of the business is not a disease but it is just a symptom of a hidden malaise, which has to be diagnosed rightly. Failure of the business should not be a disturbing factor but if you become inactive due to panic, then it is wrong. You should explore avenues to correct the situation and rise again like the proverbial Phoenix.
Failure might have occurred If you have not bestowed enough attention to the business. You suddenly woke up to find unacceptably low sales. This means that you failed to monitor your sales, customer base, customer satisfaction and morale of your employees. The situation hence went from bad to worse. Had you ascertained why sales were plunging and taken remedial measures, such a situation would not have arisen. You might have also failed to keep your employees motivated and inspired enough to give high priority to customer satisfaction.
The situation can not have a quick-fix solution. You have to take a few important steps to correct the wrongs done.
1. In the first place, you have to acknowledge that there is a problem and it has to be sorted out according top priority. You must ask yourself some hard questions. Just escaping from the problem is not going to solve it.
2. Marketing is the back-bone of any business. You can seek the help of Marketing Consultants to revamp the entire marketing set-up and to devise a strategy to recapture the market lost.
3. You may have certain unwanted employees in your organization. They may be talented but may lack the character or they may have impeccable character but lack the skills. Some may be trouble-makers. You have to weed out such unwanted employees and try to recruit only talented employees with the highest degree of integrity to whom you can not only delegate a major portion of your routine work but you may get some good support from them in the form of guidance or advice. For this process also, it is better if you have some expert Consultants so that you will get good and 'creamy' staff on board.
4. You and your employees can undergo self-improvement and motivational training conducted by motivational experts so that you can get 'charged up' to come out of the crisis.
5. Once everything is put in place, you have to closely monitor the progress you are making in the revamped business.
6. You should understand that failure is the stepping stone for success. It is not a mistake to fail. But after taking corrective steps, if you commit the same blunders, it is a crime. Hence you should tread your path with a positive frame of mind and with all the diligence not to repeat the mistakes of the past.
7. Patience is the best virtue. If you adopt patience and work with focus, a day will come when you will be reaping the fruits of your patience and perseverance.

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