Do you ever feel like your business is clinging to survival? Or that you’re one lost client or bad Yelp review away from bankruptcy?
Saving a small business from the brink of disaster isn’t easy. But Grant Cardone (pictured), entrepreneur and host/executive producer of the TV show Turnaround King, says it can be done.
Cardone offers five strategies for getting a small business back on track:
- Identify the real problem. Cardone, who also wrote the book Sell to Survive, says many times the heart of the issue is related to revenue, so often his first task is focusing on immediately generating revenue. “Revenue is God for a small-business owner,” he says. “Without revenue, you can’t expand, you can’t advertise, and you can’t conquer the market.” Set revenue goals for your employees, but also recognize their efforts in supporting sales. Cardone uses the analogy of a sports team: “You don’t have to just make a shot. You also get credit for assisting in shots in the NBA, and in the NFL you get credit for assisting in tackles.”
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