Business Rescue Question: Why bringing more customers to a failing business won’t necessary turnaround the business.

Share

More customers do not necessarily mean successful business turnaround to a failing business

In my experience of business rescue, I find it very amusing when failing businesses employ more strategies purely to get new customers through the door and find themselves in the same situation again six months later.

Let me tell you a story to illustrate:

failing businessThere was a monk named Lee who lived in a mountain, who was asked by his senior monk to bring back 10 gallons of water back to for his bath.

Lee took the first 2 bucket he found and had them hanging off the stick and went down the mountain to fetch water.
He filled up the 2 buckets and went on his merry way up the mountain. As he was walking up the mountain, he felt the weight on his shoulders was getting lighter. He thought he was getting used to the weight on his shoulders.When he got to the top, he proceeded to empty the bucket into his senior’s bathtub but to his horror he found nothing.

What Lee did is exactly what most business owners do in their business when trying to turn it around. They spend all the time getting more customers (filling the bucket) and along the journey, we forget to check the bucket to see why it is getting lighter and lighter ( no KPIs set) and when we get to destination, we don’t know why the bucket is empty (no cash). But their solution is go and draw more water from the well. (get more customers or sales) but failed to check what kind of condition the bucket is in (It was full of holes). First patch the holes (problems in the business) first then go fetch more water.

For more strategies on how to perform business rescue in your business via our do it yourself method, join our community. It only takes $1 to get started in your successful journey to turnaround your business.

All good wishes,

Trevi Lim

Founder of Business Rescue

This entry was posted in Blog by Trevi Lim. Bookmark the permalink.

About Trevi Lim

Trevi Lim is a businessman, pharmacist, coach, mentor, entrepreneur, philanthropist, author and speaker. He went from working over 80 hours a week as an employee to now multi-business owner in less than 7 years. As founder and CEO of BusinessRescue, he specialises in helping turning businesses around and grow businesses to the next level. He is a passionate mentor and teacher who wants to show people how to achieve financial freedom through their business.

Comment and Share!

One thought on “Business Rescue Question: Why bringing more customers to a failing business won’t necessary turnaround the business.

  1. i love the article about bringing more customers to a failing business,which does not necessarily result in improving income .i have a honey sucker truck which is in a bad state in fact it needs an engine overall all the sales generated from end up in the purchasing of oil and diesel and breakages here and there…basically the business is not making money,due to the poor state of the truck….i do not have the financial means to fix the truck and im afraid i might just have to sell part of the business to fix the truck…do you have any advice im really at dire straits right now!

Leave a Reply

Your email address will not be published. Required fields are marked *