Turn a Losing Business Into a Moneymaker

Even successful businesses experience periods of revenue loss.

Usually these times reflect something happening in the general economy, seasonal changes, or upheavals in the marketplace.

The revenue dip typically corrects itself when conditions stabilize. Maybe the stock indexes improve, the winter subsides and people start shopping again, or the marketplace levels out. 

Here are some ways to turn a losing business into a moneymaker again….

Interim Staffing Solution

In many cases, the blame for business revenue loss can land squarely on the shoulders of a top executive in your organization.

CFOs, CEOs and others can cause unbelievable problems in a company that can trickle all the way down to your c-suite employees.

Changes in process, personality conflicts, or a negative company culture caused by a misguided executive can all have fatal effects on a business's chances for success.

In instances where this is the case, you can't wait for an HR recruiter to find you a replacement top executive.

As the article, "Case Study: Hospital Recovers from 13 Year Revenue Loss," points out when you're bleeding money, you can't afford to waste any more time, and swift and immediate action is necessary. Every delay costs you more money, minute by minute.

An interim staffing solution from a company providing such services can solve your immediate need for a take charge top level exec such as a CFO, department head or other.

Interim staff comes in with a take-charge attitude and a foundation of experience specifically relevant to your needs.

Far from being a long-term solution, interim staffing is a temporary and instant answer to halt your business' financial woes. You won't be committed to any long term commitment unless you like the exec and want to add them to your permanent team.

Otherwise, you can keep your "fixer" just long enough to find a permanent replacement for the exec who caused your original troubles.

Freeze Spending

If you were operating as an individual, and you were losing money left and right, you'd stop buying things, right? The same solution applies to your business.

If you're so up against the fence that doom is imminent, freeze spending. Your employees will manage without a new shipment of pens, and their mouse will still work with their old, frayed mouse pad.

Don't let pressure or ego get in the way of making the best fiscal decision you can right now.

There are few disposable business supplies that can't wait for just a little while.

The only exceptions might be if you run a medical facility that has to pay for medicine to stock in order to treat patients or some similar business.

Obviously, freeze spending where you can, without doing harm to your customers.

If your business is suffering from years of revenue loss, you may be at risk of not being able to keep your doors open.

If this is the case, you need to take swift action to save your business, your livelihood, and the livelihood of those who work for you.