Episode 27 – The Local Small Business Coach Podcast
Today’s Topic: Is Your Local Small Business Growing or Dying?
In today’s episode: We discuss why you want to identify if your local small business is in a dying stage or a growing stage. We walk you through the 5 things to look for in both stages
Welcome back to the Local Small Business Coach Podcast, I am your coach Tammy Adams.
Hopefully your week is going strong with lot of business. I also hope that after our last episode you have been putting some thoughts into what you want your 2017 business goals to be. So, have you set those target sales and profit goals for next year? Which processes you will improve and what are your plans to develop your team? Don’t forget, you have one more month to finalize those goals. Don’t procrastinate, do it now.
Not only is this time of the year a great time to think about your goals for the new year, but it is also a great time to analyze your small business and ask a very important question:
Is Your Local Small Business in a Growing or Dying Stage?
I’m going to assume that some of you had an immediate answer pop in your head. Maybe your business has been going bonkers so you know your business is in the growing stage. Perhaps you’ve been losing customers and sales have been sliding so you are facing a dying business.
For the rest of you, I’m going to wager that you are landing somewhere in the middle. Neither dying nor growing. The problem is, you can’t be stagnant. While it might be very subtle, you are headed in one direction or the other. You challenge is, you must identify which way you are headed.
Let’s take a closer look at the signs you should look for.
If your business is starting to die, you are going to see these 5 warning signs:
Now that we know what to look for to identify if you are in a dying stage, let’s take a look at 5 ways a business in a growing phase has going on and how you can go from dying to growing!
When I worked at Home Depot, the founding father, Bernie Marcus, was a master of this. Every store visit he would break away and just talk to the customers. He would not only find out things about that particular store, he was also looking for trends from store to store, market to market. It was fascinating to find out the things he pick up from this exercise he did from day one and long after he left as our CEO.
Ok, this is a shorter episode but I do want you to put some thought into where your business is today as you head into the new year. Then when you sit down to create those business goals, you can incorporate some of these ideas in so that you ensure that your business is continuing to grow. No one wants a dying business. So you must ensure that you are pushing forward these growth tactics we discussed.
** For the full show notes click the link below!
Podcast Website: LocalSmallBusinessCoach.com
Leave your Message on the website with the Speak Pipe Button or just email me at Tammy@LocalSmallBusinessCoach.com
Episode Show Notes: Episode 27 - Local Small Business Coach Podcast
Our Training Materials for Local Small Business Owners: TrainingforLocalSmallBusinessOwners.com
Starting a Local Small Business Website: StartALocalSmallBusiness.com
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