Is Your Business Facing Industry Wide Disruption?
Business disruption can come from many avenues. In particular, industry wide disruption can be due to competitors, product disruption and sales cycles. The links below will assist with determining which area to focus on and how to manage it.
Learn How to Profitably Construct an Exit Sale
If the industry disruption is serious (e.g. think of the severe impact of video streaming on movie tapes and DVDs) maybe you should think ahead and guide your business to a profitable exit. It is quite likely that the value of your business, when you sell, will be closely related to its profitability.
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Choices to Manage Business Disruption: Industry Wide
New Industry Wide Competitors
Learn how to increase leads and convert them to sales at the 12Faces Sales and Marketing Menu. Has the competition transitioned from a physical existence to an online presence? Investigate the option of creating a website. Website Design for Marketing articles will assist.
Has your product become outdated? Has your competition innovated to new formats eg. vinyl records to cd’s to online streaming? Learn ways to distinguish yourself from the competition. Direct link to Courses are available at this link.
Business Disruption: Sales Cycles
Are there external forces creating multiple quarters or years of decline in the economy? Do your sales have longer term trends over certain periods? Look at the Money Management Menu and Revenue Increase areas of 12Faces. Select the link that relates to your business disruption. Direct link to Tools are available at this link.
If your industry is likely to decline, it might be wise to spend time and energy positioning your business for the most profitable sale that you can achieve. Work out your reasons for the exit, an exit strategy, succession planning and more.
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