“If it’s not broken, don’t fix it,” is a familiar saying. But just because your small business seems to be just getting by in a challenging economy doesn’t mean there’s no room for improvement. Flat sales aren’t always entirely out of your control.
But does your business need a full-scale makeover to get things going? Or are some simple tweaks enough to spur activity?
A good place to start is by taking a fresh look at your business plan-something every entrepreneur should do regularly in good times and bad. Regular reviews and updates keep your original start-up research in step with both internal and external changes. After doing some research you may well find that some key assumptions about your customers have changed, or that demographic trends haven’t panned out as planned.
You may also see the need to address aspects of your marketing strategy. The core messages to customers may still be valid, but perhaps it’s time to adjust the wording or even freshen up your logo. Your current advertising and promotional strategy may need to be realigned to channels that show more promise, from print ads to direct mail, for example.
Keep in mind that you don’t have to grapple with these problems yourself. If you have employees, splurge on dinner or some other fun activity and give everyone a chance to unwind. This is a good time to discuss ideas to help the business, but also encourage everyone to think about things on their own and submit their thoughts