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Turnraround Tips

 

 

 

Speak to any entrepreneur and he will agree that your staff is one of the biggest inhibitors of any business. As true as this may be, it is also true that the blame for 90% of staff problems, belongs to these entrepreneurs. After all who employed them, who is supposed…
In business, consistency is almost always better than being better. I realise that this is somewhat of a confusing statement, but let me try and explain it by way of an example. Some time ago a motor manufacturer launched a new sports model that was priced way out of the…
Betrayal is as much part of business, as is the hunger for success. There is almost no success story in business without there being some skeletons in the closet. The key here is not to suspect everybody of trying to stab you in the back, but simply to be prepared…
I have been assisting businesses for some time now and the truth of the matter is that depending on how creative the owners or their accountants are, they can make the business look like a shiny diamond in the ruff. This is done without telling a single lie or making…
As time goes on, it seems that some customers continually want more. Not only that, but they want it cheaper and they want it faster. And what’s wrong with that? After all, the written rule is that “the customer is always right”. The fact of the matter is that without…
Separate yourself from your business Hi I am Pat and the owner of Pat’s Consulting Services. How bright does that sound. To strongly attaching yourself to your business can be detrimental to the business in the long run. Should you ever wish to sell, franchise, or simply expand your business…
From the wise words of Yoda "Fear leads to anger; anger leads to hate; hate leads to suffering" and all this leads to that deep financial hole you cannot seem to get out of. This does not mean you need to be heartless and walk all over people, nor am…
Far too often it happens in business that a disagreement occurs and due to the lack of paperwork it ends up in a “he-said-she said” situation all the way through arbitration to the court room costing all parties more than what it is worth. What is even more disappointing is…
Work for profit and not turnover – why we recommend focussing on your bottom-line figures rather than your top-line figures, in order to keep your doors, open. When we talk about business and the importance of success, we are often reminded by everybody that “business is about the bottom line”,…
“The K53 of Running a Business”Pat Pattinson This may seem like a rather strange heading, so allow me to put it into perspective. The K53 is the manual that we study to get our driver’s licence. The general consensus of opinion regarding this book and the subsequent test, is that…
“If you see a bandwagon, it’s too late.” James Goldsmith This is so very true in life, but so very dangerous in today’s business environment. We humans have moved from the Stone Age through the Industrial Age right into the Information and Digital Age. What is important to note here…
“Just believing, does not mean you can” Pat Pattinson It’s true that a blind belief in yourself, your methods or your products can, in some instances, drive a business forwards and keep a business afloat, but at the same time it must be stated that, even a broken clock is…
"When you’re up to your armpits in alligators, it’s hard to remember to drain the swamp.” Ronald Reagan This is such an accurate description of where most distressed business owners find themselves while navigating a way through the day-to-day business minefield. To put it in slightly better business terms: It’s…
YOU NEED TO LET GO OF THE OLD, BEFORE YOU CAN MOVE FORWARD AND GROW. Pat Pattinson In order for anything to change or evolve, a sacrifice needs to be made. Sometimes this sacrifice is so insignificant you don’t even notice it; and sometimes the sacrifice can be so overwhelming…
“CUSTOMERS: THE UNWANTED NECESSITY.” Pat Pattinson Let’s go back to business basics: a business owns a product or service that a client needs or wants. That client, out of their own free will, comes to the business, determines the viability of the product by assessing the cost versus the benefit,…
“Business Organises the Chaos.” Pat Pattinson “A place for everything and everything in its place” - I’ve heard this so many times and every successful entrepreneur, that was not just lucky, will swear by it. Yet most small business owners take this statement for granted. Before you can fix a…
"You cannot grow or turn your business simply by cutting costs.” Pat Pattinson In terms of business turnarounds, cost-cutting is the biggest mistake made by consultants and entrepreneurs during the whole process. If you simply keep cutting costs, you very soon find yourself in the position where your business can…
“If you always do what you always did, you will always get what you always got.” Albert Einstein This original quote from Albert Einstein has been adapted and adopted by people like Henry Ford in his quote: “If you always do what you’ve always done, you’ll always get what you’ve…
“However beautiful the strategy, you should occasionally look at the results.” Winston Churchill When Winston Churchill said this he was no doubt talking about the war efforts during the Second World War, but it is just as relevant for today’s boardroom wars in business. I’ve seen companies spend ridiculous amounts…
“Business Rescue is not a team sport, nor is it a game played around boardroom tables using PowerPoint presentations or Excel projections. It is a war, fought at ground level where instructions need to be followed by those being held accountable.” Pat Pattinson The concept of Business Rescue is still…

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