A growing business is a boon, but every organization eventually outgrows the strategies and systems that made them successful in the first place. Unfortunately, many business owners realize too late that what used to work is holding them back. Below are a few common signs you need a business consultant to help you grow and adapt to a changing industry.

How You Know You Should Reorganize Your Business

1. You’re Losing Customers

Losing longtime customers is a worrying sign for any business owner. While some attrition is normal, if your customers are leaving in droves, the structure of your business might be to blame. Competitors may have started offering a faster, more streamlined service, or maybe you’re no longer delivering the experience your customers expect.

2. Growth Has Slowed or Stopped

Slow growth or shrinking profits may be caused by market forces totally out of your control, but more often these problems can be traced to rising costs or other factors. A business consultant can examine your books, identify efficiencies, and help get your company back on track.

3. You’re Expanding Into New Markets

Some business challenges are related to poorly managed development, not losses. If you’re diversifying into new products and services, a business consultant can help set up the processes to maximize your return on investment.

4. Employees Are Leaving

If your turnover increases — especially if longtime employees begin to move on — examine your management practices and compensation packages. Perhaps your workers no longer feel they have a stake in the company, or maybe a competitor has begun offering more attractive pay and benefits. Identifying the source of these problems can be difficult, so hire an outside consultant to find the problems and help create a more satisfying, harmonious work environment.

5. Your Industry Is Changing

In today’s rapidly evolving business environment, organizations need to be able to adapt at a moment’s notice. If significant changes are rocking your industry, a business consultant can help you be on the forefront rather than left behind.

 

No matter what challenges your business faces, Yancey Consulting offers wide-ranging expertise and a proven approach to help your company thrive. The firm has worked with organizations throughout St. Louis, MO, for over 20 years, providing effective solutions to an almost limitless array of problems. Visit their website for more information on how they can help, follow their Facebook page for regular updates, or call (314) 614-7542 to speak with an expert business consultant.