Pages

How to Re-energize Your Business

In 2005, Chris Clemans' woodworking business was in a rut. Operating out of a small, rural town in the Adirondack Mountains in New York state, Clemans had maxed out his business's potential; there was nowhere to go, and no more customers to find.
He realized that to expand, he didn't just need to move the company; he needed to change how he did business. With the help of advisors at the local U.S. Small Business Administration's Small Business Development Center, Clemans created a new business plan. He moved two hours south to the far-more-populated Syracuse, changed the company name and logo, and invested in new, advanced woodworking technologies.
He found that with better technology and a better location, demand went through the roof. Now five years at his new location, Clemans' company, CabFab, has tripled its gross revenue and hired an additional seven employees. In 2008, it was named Modern Woodworking magazine's Small Shop of the Year. His business is booming.
Every business falls into a slump or gets stuck in a rut. Ups and downs are just a part of how companies, people, and the economy work. And a slump isn't the end of the world. Once they start, they're not entirely out of your control. In fact, slumps can provide owners with much needed motivation to make major changes. Clemans didn't just get out of a rut. He used it as an opportunity to completely reinvigorate his company.
Here are some suggestions on how you can do the same:
  • Reorganize: Sometimes it's the mundane tasks that bog you down the most. It never hurts to find more efficient and effective ways to organize your staff and business structure. For Clemans, that meant shifting accounting responsibilities to his wife, who quickly streamlined the company's finances, which allowed Clemans to focus on the creative side of the business.

No comments:

Post a Comment