Most people gain weight slowly. Some don’t even notice because they don’t watch it carefully. On average, I read people gain about a pound a year starting in their 40′s and then next thing you know-seemingly overnight, they have gained 20 pounds by the time they are 60 and are seriously overweight. And by then, they are alarmed, but don’t know what to do because it is too late. Diabetes, high cholesterol, and heart problems have set in-and they are in a health crisis.
Your business can be just like that. If you are not watching it closely, small problems set in. Maybe lead times slip a little bit every year. Perhaps the margins erode just a little bit every year. Operating expenses creep up, product development slows down, and customer service starts slipping-just a little bit every year.
And then, seemingly overnight your business has lost customers, market share, and profits and is in serious trouble. Your business is in a crisis and you don’t know what to do.
Here is what to do-don’t let it get there to begin with. Get on the scale of your business and check it’s health every single day. Watch it like a hawk and when it slips, correct it immediately. Don’t be like Best Buy, a company that is going out of business slowly (read this link from Forbes.com http://ow.ly/8BZVO).
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