It depends on what you mean by 'stuck'. Emotionally or business not moving? I am going to assume the latter.
Then by your business being 'stuck' are you referring to revenue growth, profitability, business not expanding, business you are in is boring or all the above? For the purpose of my answer I will assume you are referring to revenue growth.
There could be many causes behind a business not moving. The key is to find the thing(s) that will get the wheels turning and then put that thing(s) on steroids so you can ramp up quickly.
Some reasons why your business may not be moving are the following:
- Your product/service is not meeting a strong enough need
- The quality of your product/service is not good enough
- Pricing is too high or too low
- Your target market doesn't know about your business or your product/service
- You don't have the the right members in your team to improve any of the above
- You are short of funds and find it difficult to improve any of the above
- Your experience and skills. Are you doing what you are good at?
Therefore the way out is analysis. Objective analysis.
- Speak to your customers. Existing and prospective.
- Review the feedback you are getting.
- Review product and site analytics if you are running an online or app business.
- Try different ways of marketing.
- Honestly assess the skills and ability of your team and yourself.
- Of course speak to an experienced advisor.
If you'd like me to assist further please give me a call
Answered 11 years ago
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