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Many entrepreneurs face frustration when business starts to wind down, the phone no longer rings off the hook, and the clients are few and far between. Does this make it a failed business? Not necessarily. Before you plan your exit, take a closer look. Your business might only need a facelift. A few tweaks, improvements and TLC may be all you need to jump-start your business, increase its value, and attract buyers when you’re ready to sell.
This article is a great first step in making an assessment of your products & services, operations, brand identity, marketing and finances. Some of these things may seem obvious, while others may surprise you. To take it a step further, you may even want to hire a professional management consultant.
Once you’ve made a list and identified your weak areas, you’ll want to start brainstorming ways in which you can make improvements. In the process of doing this, you may even discover new ways to expand your business into a whole new area. And remember, adding value to your business now will help get you top dollar when it comes time to sell.
Read the full article of the 20 reason why your business may need a facelift.
“When you put your heart and soul into your work, it can be very hard to let go.” – Richard Branson For most entrepreneurs and small business owners, there comes a point when they must answer a serious and deflating question: “When is it time to give up on my business?” When you […]