QUESTION: My sales have actually reached a height in the last few years and also are now on the decline, while my operating budget are enhancing. I am attempting to reassess my company model to identify the reason for the problem. What can you suggest?ANSWER: It prevails for owners as well as managers of small companies to be so connected to their service version that they fall short to see and also respond to changes in technology and also the acquiring practices of their customers.I recommend that you begin by dividing the product or services you supply right into different profit centers. You might discover that some of these products and services are not profitable.You then need to decide if the unlucrative facilities can be made lucrative or if you should eliminate them and also concentrate on expanding the lucrative centers.If your inclination is to recover the under-performing center, you require to review the situation.The following are numerous
locations on which you require to concentrate your interest: Is the product or service you offer the newest and also best in the market? Or can you make use of innovation to develop better items,