Sunday, August 30, 2015
Digging Your Corporation Out of a Hole!
One of the most advantageous methods is to remove all low performing sectors and go directly to your main revenue sources. This is only beneficial if such revenue sources not only serve immediate cash flow needs but also have the propensity to grow. This could include short and long-term cash flow production. Remove or prune the rest.
Once the income streams have been developed based upon the strategic goals of the company it is necessary to streamline. This means that all excess operations that don't add value to the organization must be removed. That value should include the needs of the most important stakeholders. Review all department and positions to ensure they fit properly in this framework.
Transforming companies is not easy. However, with diligence and foresight it is possible to take those businesses with solid market relevant offerings and transform them into high performing businesses. Sometimes this requires a change in marketing, change in strategy, change in products or personnel. Digging your company out of a hole is not easy but is necessary.