A Gem From Tom Zender – Ten Reasons Why Good Businesses Plateau and Struggle to Grow Again
Ten Reasons Why Good Businesses Plateau and Struggle to Grow Again
Loss of passion, attitude of “we’ve won” or “there is no competition,” wanting to move on to the next more interesting kind of business, failure to maintain enthusiasm in the organization.
Bad hiring practices, leaving some employees in the same job too long, retaining poor performers too long, not continuously training and upgrading people.
Lack of Standards and Controls
Not setting expectations, not constantly tracking actual results vs. plans, getting critical information too late, not periodically reviewing and updating standards and controls.
Attitude Toward Customers
Lack of respect, infrequent contact, failure to serve well, failure to ask customers how they are doing, failure to ask customers what they need now or need next, failure to up-sell customers.
Too much, too complex, too little, too late, doesn’t serve core functions well, not having good manual processes with the technology, not training internal and external users.
Failing to understand the market, poor planning and execution, lack of clear targets, unfavorable customer perception, poor positioning of products against competition and with customers.
Stale Products and Services
Not quickly staying with or ahead of market and customer needs, slow development processes, disconnects between products, production, processes, and marketing.
Lack of Investment
Not securing enough cash fast enough via loans, investors, internal cash ﬂow and other means to sustain or accelerate growth; not creating a plan and resources to pursue investments.
Dogmatic adherence to the present and what has worked to date, failure to change quickly, failure to believe that constant change is mandatory.
Weak or nonexistent vision, courage, attitude, culture, and strategy; failure to engage employees, customers, suppliers and community with the business, no succession planning.
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