Has Your Business Entered Zombie Land?
There are a number of movies and television shows today that deal with the issues of zombies, or the undead. While this is, of course, fantasy, there are unfortunately a large number of companies that operate daily in a zombie-like state.
Understanding the Situation: How did you become a Zombie Business?
These businesses are like the undead in that they continue to make sales and pay their bills, but they aren’t growing and barely get by each payday. Other signs of a walking dead operation include:
- A lack of any effective marketing
- Lack of growth goals
- Few, if any, new customers
- An outdated or broken website
- Ignoring advice
- A lack of adequate financials and accounting systems
- Low employee morale and high turnover
The reality for many of these firms is that they will eventually run out of even the few customers they have and shut their doors. One of the saddest scenes you can see it to walk up to a formally vibrant business and find it closed, a sign on the door that it has closed and is no longer in operation.
Finding the Cure
If your business seems to have hit a wall, it’s time to take a hard look at the reasons you can’t seem to grow and are losing ground in your market. On the other hand, it is often difficult for the business owner to take that hard look in the mirror and understand how they got where they are. It is even difficult for many to recognize the seriousness of their situation.
Whether new competition has entered the market, the local demographics have changed, or any of a number of other factors arises to negatively impact your business, it often takes dramatic action to change your direction. Unfortunately, if you are still able to make even a moderate income, it is easy to just continue in that zombie mode, waiting until it is too late to make necessary changes.
When you find yourself in such a situation, it is often much wiser to take one of two steps. You might liquidate the business and spend your time at another job where you will make more money without the challenges and risks of continuing to run a dying business. On the other hand, you can wake up to the situation and decide to tackle the issue head on.
Many people find it extremely helpful to bring in fresh eyes and attitudes to help in a turnaround, providing an objective assessment of a business’s condition. For many, hiring a business coach is the first step to a new path of growth and profitability. When you take the time to work with someone who is committed to your survival and success, you receive the benefit of extensive knowledge and insights.
If you feel your current situation is something like the plot of a late-nite show, wake up and turn to a coach who can help you bring new vitality and a bright future to your operations.Thom Torode is a NJ based Professional Executive & Business Coach. He has owned over 5 different businesses and is currently the Managing Director for Sunrise Business Advisors. Thom’s expertise includes working with those business owners who have plateaued getting them unstuck and back in growth mode. Additionally, Thom works with both franchisees and franchisors in helping them develop their leadership. Thom is also Director Consultant with BNI. When not helping business owners and their teams create the business and lives they want and need, he can be found following his kids activities.
In addition to being a Certified Business & Executive Coach, Thom is also a Certified Franchise Business & Leadership Coach, as well as Certified Guerrilla Marketing Coach and Trainer. Our philosophy is to provide coaching, mentoring, and advisory services to help business owners achieve the businesses, the teams and the lives that they’ve always dreamed of having. We accomplish this through a tried and proven process of learning and understanding your needs and we’ve always achieved high marks with our valued clients.