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Read our newest report "Growing Your Business in The Modern Economy" to get insights from 6 prominent VCs on the current startup environment and how to achieve success.
Top 10 Signs You Need To Retool Your Business
The folks at Heller Communications Design have this wonderful "About" page that has some pointers on when a potential client should hire them. The list spoke to me, not because I need a design firm or some other consultant, but because there is a lot there that any entrepreneur can use as warning signs that they need to restart their efforts, or perhaps rethink the direction that they are taking their business. So here is my own top ten list, somewhat modified from Heller's.
- You need to create a future that is far more sustainable than your current business state.
- You're experiencing a decreasing return on your marketing investment.
- You were once the leader in your industry, but competition is coming out of the woodwork.
- You are finding yourself in a commodity business with rapidly decreasing margins and increasing costs.
- You are at a loss as to how to use new media and social networking. No engagement on your Facebook page, you haven't added a LinkedIn friend in months, and you have somehow forgotten your Twitter account password.
- You haven't posted anything on your blog in over a month, and no one wants to write anything for it anymore anyway.
- Internal morale is compliant but not inspired; you need to light a fire.
- Your organization has many non-intersecting silos and you can't have the right conversations because of conflicting agendas.
- You are afraid of transparency and what it will unleash. Or you really have a lot to hide and would like to keep it that way.
- You are in start-up mode and think you can wait a while before you deal with any of the above items. Guess what? You can't!
Do any of these sound familiar? Maybe it is time to take stock and review where you are at and how you got here.
The ReadWriteStart channel, sponsored by TriNet, is designed to ease the process of starting and growing a new business and maximize the odds of success.
Read our newest report "Growing Your Business in The Modern Economy" to get insights from 6 prominent VCs on the current startup environment and how to achieve success.
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