Yesterday I shared my opinion about bailing out small businesses with government aid. Today I want to go through 3 questions that you should ask if your business is struggling.
In reality we have all struggled or will struggle at some point in time in our lives for various reason. How we deal with the struggles will define how are lives turn out. When your business is struggling, it’s time to evaluate what you can do to get back on track. The following questions are questions I have had to ask myself to overcome obstacles in business and in some cases life.
Question #1:Â What skills do I need?
New ideas, technologies and processes change quickly in today’s landscape. It’s easy to get left behind when you are working in a particular niche. When your business is struggling, it’s time to find out what you don’t know that you need to know and where you can learn it. This happened to me about 3 years ago with technology. I had been in a field that was not tech based and the skills weren’t necessary but when I went into business for myself, I struggled with emergent online resources and technologies. I had to get up to speed quick. If you find yourself in a position where you may need to learn something new, assess where you might find the information. It could be going back to college, attending a seminar or something as simple as reading a book.
Question #2 What exists in the marketplace that I am not using?
A great example of this question in action is the businesses that still operate without a website. There is no need to go without having a website that not only exists but looks professional. Social media is another area where people are hesitant. The great thing about online resources and tools is that a lot of them are free. Getting the word out about our business is easier than ever. It took years for e-mail to get a foothold. Look around your industry at what tools the leaders are using and ask yourself what would work for your business.
Question #3 How is my team doing?
This is an important question as it allows you to start recognizing the changes that may need to be made within your organization.  I will caution that when I talk about the team, I am talking about you to. Make sure that you evaluate your performance and how you can be better. As the business owner, you should take a lot of the responsibility for your organization’s shortcomings. As well, don’t hesitate to rid yourself of the dead weight within your organization. If you have people under performing, find out why and then make the necessary corrections.
The answers to your businesses success and failure lie within your organization. It’s important for you to keep a clear head so that you can recognize the solutions that exist.
What questions would you add to this list?