What to do when a Business is Struggling or Dysfunctional

Running a business comes with many rewards but also significant challenges. Success can quickly turn into a struggle, testing owners and managers to their limits.  How do you stay positive when things don’t go as planned? At KBA, we frequently see business owners and managers facing challenges when the business is not going so great, impacting their mental health and well-being, which contributes to their loss of focus.  We see high levels of frustration, anger, sadness, fatigue and even feelings of defeat, yet they are hanging in there trying to get their business back on track. 

Unfortunately, we live in a world filled with negativity where everyone talks about doom and gloom; inflation, staff skill shortages, interest rates, supply change issues, and customers reducing their spending. All of this contributes to the demanding pressures of running a business.  When we see business leaders lose their passion, their staff often follow suit, leading to increased turnover or a disruptive environment that takes their business from bad to worse. 

If this sounds familiar, you need to change your mindset to turn things around for yourself, your leaders and most importantly your business. This all comes back to the lack of planning. If you fail to plan, you plan to fail. There is nothing greater than putting a plan in place creating a clear path to get you out of trouble, and knowing what you need to do to drive outcomes. The small wins and achieving key milestones along the way all contribute to higher output, focus, and drive, for both you and your team. Running a business can be lonely, so seek professional help to get you out of trouble.

At KBA, we’re very passionate about taking businesses from good to great. Over the years, we’ve seen companies who have had a strategic intent to improve their business, but then we see strategic drift where the business failed. This is often due to a lack of planning, setting harsh goals and objectives to trade out or create a better pathway for themselves and their company. And a lack of accountability. They have not allowed anyone to hold them accountable for the outcomes of their business. Therefore, the mindset changes and the frustration kicks in.

When we conduct a Strategic Plan, we always ask, “What does ‘great’ look like in your business?” This question helps business owners see the value of strategic planning workshops, which not only improve their business but also create a positive mindset and personal satisfaction.

Strategic Planning

The purpose of creating a strategic plan is to set clear goals for your company by having a solid plan to achieve them. This involves working with all key stakeholders on 10 key areas for change and continuous improvement so your company can reach its potential. The goal is to convert your current business processes and systems into a Strategic Plan document with timelines and accountability for all stakeholders focused on company goals and objectives.

At KBA, we workshop the following 10 key areas:

1. Mission, Vision, Purpose, and Values
2. Organisational Strategy
3. Financial Sustainability
4. Service Offerings
5. People & Capability
6. Marketing Initiatives
7. Better Processes through Technology
8. ICT – Information, Communication, and Technology
9. Growth Strategy/Merger/Acquisitions
10. Compliance/Risk

For more information on KBA Strategic Planning Workshops refer to: https://keyba.com.au/strategic-plan/

To achieve greatness, you need to have a strategic plan that your whole team supports. Our proven model involves a 2-year plan with a 3-year vision, celebrating the milestones along the way. This approach creates focus, and empowerment and contributes to a positive team culture where everyone works with purpose. When a business is struggling or dysfunctional, it can take 12 months, even up to 2 years to get back on track and pumping. We know when the wheels start turning and the company is moving in a positive direction, it is like a vacuum, your staff drive the outcomes, and this also becomes a power of attraction for other quality people to join the business.

No one likes change management, but sometimes it is necessary for the benefit of the company.  Download our 10 Steps to Change Management: https://keyba.com.au/change-management/

Key Business Advisors has a proven model that spans over 16 years.  We have a dedicated team that delivers results that are aligned with our mission, vision, values, and purpose.  We take our clients from good to great because we become embedded in our client’s business through the services we provide, covering all aspects of employee engagement and performance.  We have a proven model that results in building great client relationships all over Australia.

To learn more about our company and access FREE resources to help your business grow and get to the next level:

• Key Business Advisors – keyba.com.au
• Business Strategy & Growth – https://keyba.com.au/business-advice-strategy-and-growth/
• People & Culture – https://keyba.com.au/people-culture-business/
• HR Advice and Support – https://keyba.com.au/hr-advice-support/
• Professional Sales Training – https://keyba.com.au/professional-sales-training/

At KBA, we are very passionate about taking businesses from good to great. If you need assistance in enhancing performance through a strong organisational culture, please don’t hesitate to contact us today!

If you would like to explore our services further or require assistance, please reach out to Key Business Advisors on 1300 4 ADVICE