3 steps to revitalise a failing business

That’s it, you’re done: a spent force in the corporate world, about as useful to the current generation of entrepreneurs as an Amstrad CPC. As a failed business owner, all you can do now is shut up shop, board up the windows and tell your former employees to start updating their CVs.

But wait a moment – put down that liquidation form and consider a few more of your options for your failing business.

failing business

There’s every chance that your product, whatever it may be, isn’t ready for a cremation. In fact, it might just require a fresh lick of paint.

In this era of minute attention spans and audiences constantly searching for the shock of the new, you might be able to salvage your company by understanding how a new visual language or marketing technique could capture the minds of consumers.

To give you a helping hand, here are a few ways you can inject some vitality into your failing business.

Reinvent your company’s culture

Whether you rule with an iron fist or a soft stroke of the cheek, the approach you’re taking to leadership might not be right for your company.

How you lead contributes to a much broader canvas, the internal culture of your business.

‘Company culture’ is an umbrella term which covers both how your staff interact with each other, and how they interact with their customers. Get it wrong and your profits will crumble like a Custard Cream dipped in coffee.

You’ll need outside help to revitalise your company’s culture, mainly from a company that can help rebuild it via promotional brochures, instructional videos and fresh-looking staff photography. For our money, the SNS Group’s long-established approach to visual communication is the perfect fit. Give them a look.

Check out your website

Any company established before the internet age tends to view its website with an air of suspicion, as though digital technology is like a malevolent relative waiting for you to pop your clogs. But if you don’t have a sophisticated web presence in this day and age, you’re missing out on a prime opportunity for consumer engagement.

Improving your website and social media channels will require a little bit of investment, and an effective media agency with proficiency in SEO. Check industry magazine The Drum to find the up-and-comers in the media agency world.

Train, train and train

If your staff seem limp and uninspired, then it’s time to implement a training programme. Not only will this inspire them to reinvent your failing business, but a company that invest in its staff is far more likely to retain its key players.

To find out which training programmes will suit your employees, simply have a meeting and ask them. This will give you a better idea of the gaps in their knowledge that you can fill. Barring that, invest in, a fantastic e-training site that won’t break the bank.