Turning Around a Troubled Business: Practical Tips for Buyers
Taking over a struggling business is both a risk and an opportunity. On one hand, you inherit a history, assets, and perhaps an existing customer base. On the other, you must tackle operational inefficiencies, outdated models, or reputational damage. For entrepreneurs, the challenge is transforming what isn’t working into a business model that thrives in today’s marketplace. 1. Assessing the Opportunity Before purchasing, conduct a comprehensive due diligence process. This goes beyond the financial
Streamline or Stall: How Small Businesses Can Reclaim Time and Output
There’s no shortage of advice for small businesses these days, but much of it misses the mark by focusing on grand strategies rather than everyday operations. The heart of a thriving business often beats in the mundane: how files are stored, how meetings are scheduled, how supplies are tracked. For companies with limited staff and tight budgets, operational efficiency isn’t just a bonus—it’s a survival tactic. While larger organizations can afford a bit of bloat, smaller teams need their systems tight,
