I am not going to say a great deal about your business. After all I haven’t met you yet, I don’t know you and of course I have no idea what your business does.
That said I do have some ideas in general.
1. Your business is either in the start-up phase or it peaked some time ago and is now in decline. If so it is likely to have occurred because you’ve been working at it for so long that you’ve grown stale and need fresh ideas. Or you could be just plain tired, after doing the same thing day in day out for many years.
2. You may be affected by the current recession – especially if you are selling to consumers, and probably less so if marketing to other businesses. But even the so called B2B sector is finding it tough at the moment.
3. You may be experiencing cash flow problems and need to raise finance but the bank has turned you down. There are easier and cheaper ways of raising finance than going to a bank or even worse, using your personal credit cards to fund your business. Been there, done that! Many business owners fail to recognize that they are sitting on a small goldmine without even realizing it. Go and read Acres of Diamonds by Russell Conwell. You can download it free from the Free Resources page.
4. You badly need good marketing. Your advertising sucks and the costs never seem to quite equate with the returns. Maybe you are approaching your ads from the wrong perspective.
5. Your staff costs are too high relative to income. Ever tried outsourcing? We do it all the time.
6. etc, etc
If you identify with any of these and you are not sure where to turn then go to the next section How Henry can Help