This collection of phases may as well be titled “The Good, The Bad, and The Ugly”, with Rebirth being “The Good”, Death being “The Bad,” and Decline being “The Ugly.” After a period of stability and success, a company may encounter a decline in revenue and profits. The decline can be exacerbated by an owner’s unwillingness to invest in people or technology, otherwise raiding the piggy bank and withdrawing their equity.

The Decline Stage of your business is marked by Decreasing sales, plunging profits Survival mode, cutting losses, exiting the business Searching for new opportunities & business ventures

You can avert this stage with innovation. This phase’s challenges include: Rejuvenating product line Re-evaluating customer needs & value provided Protecting cash flow Exit strategy

From the Decline Stage, your business will either move into Death or Rebirth.

The Death Stage is marked by insolvency, bankruptcy, and the business having no value. Yikes! The challenge is to reposition/rethink markets, customer needs and product offerings, and/or to start over.

The Rebirth Stage is marked by a successful turnaround effort, financial restructuring, new leadership, strategic focus, and process improvements. Challenges with rebirth include: Re-gaining traction in market Re-building sales Re-invigorating employees Rebuilding financial strength & equity value Re-formulating exit strategy Listen to TurboCharge Your Business on the International Business Growth Network or wherever you get podcasts and gain access to even more great resources at https://turboexecs.com/turbocharge.

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