Reinvent a business facing near death

Feb 20, 2017

Real Business UK | Craig Malloy

Companies falter for various reasons. And in today’s fast-paced technology market, bosses are faced with “sink or swim” decisions too often. After my experience as CEO (twice-over), here are some tips on how to swim and reinvent a business that is slipping into the depths.

Pick clear, concrete objectives

Before you begin your business’ transformation, be clear about your goals. Ask yourself a few simple questions:

* What do you want your company to look like in 18 months?

* What are you going to do to get there?

* And most importantly, what are you not going to do?

Moving forward with clarity is often one of the hardest parts of the process, and committing to it fully is even harder. Salvage what you can from your current business and capitalise on those things to help accelerate growth.