7 Essential Steps to a
SUCCESSFUL
BUSINESS
TURNAROUND
© Copyright One Sherpa Pty Ltd 2009

Step 1 – Test your business model
Your business model is simply defined as who you
sell to and buy from
and the terms on which you do that.
© Copyright One Sherpa Pty Ltd 2009

Step 1 – Test your business model
If you sell too cheaply
or on unfavourable
terms you are going to
fail no matter how
hard you try.
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Step 2 – Review your costing and pricing
The next step to turning your business around is knowing
ALL your costs.
Product People Marketing Distribution Administration
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Step 2 – Review your costing and pricing
Once you know all these you can work out if you
are recovering those costs in your prices.
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Step 3 – Establish a winning proposition
A good rule of
thumb is to
realise that
customers
have NO spare
time or spare
money.
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Step 3 – Establish a winning proposition
Therefore to buy
from you they
must stop buying
from someone
else.
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Step 3 – Establish a winning proposition
You must have something
they want so badly they
are prepared to sacrifice
to buy from you
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Step 4 – Find a lead generation accelerator
Where are all your customers?
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Step 4 – Find a lead generation accelerator
Where do they look for new ideas or solutions to
their problems?
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Step 4 – Find a lead generation accelerator
Who or what can get you to that crowd and put you in
front of them to find out about what you have to offer?
That’s the lead generation accelerator!
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Step 5 – Capture every opportunity and follow it
Do you have a method of recording every opportunity
that comes your way
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Step 5 – Capture every opportunity and follow it
You must be disciplined and record the
opportunities or they will simply
disappear in the running of your business
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Step 5 – Capture every opportunity and follow it
Start a customer relationship
management system and
stick with it EVERY DAY
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Step 6 – Establish targets for closing sales
You will miss
every target that
you don’t focus
on.
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Step 6 – Establish targets for closing sales
Closing sales is key to
increasing the volume
through your business
You need to know daily,
weekly, monthly,
quarterly what you are
trying to achieve.
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Step 6 – Establish targets for closing sales
Without targets you can find yourself drifting from
one day to the next without any real purpose
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Step 7 – Collect cash as fast as possible
Cash is the key to your business moving forward.
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Step 7 – Collect cash as fast as possible
Profit is great but until it is converted into cash you
can not take advantage of that profit
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Step 7 – Collect cash as fast as possible
Make sure you know
EXACTLY how the cash
arrives and disappears
in your business and
maximize the flow of
cash.
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Step 7 – Collect cash as fast as possible
More cash in than out
will make you
successful!
© Copyright One Sherpa Pty Ltd 2009

SEVEN ESSENTIAL STEPS TO A
SUCCESSFUL BUSINESS TURNAROUND
Step #1 - Test your business model
Step #2 – Review your costing and pricing
Step #3 – Establish a winning proposition
Step #4 – Find a lead generation accelerator
Step #5 – Capture every opportunity and follow it
Step #6 – Establish targets for closing sales
Step #7 – Collect cash as fast as possible
© Copyright One Sherpa Pty Ltd 2009

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community dedicated to helping small business owners
succeed and prosper
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© Copyright One Sherpa Pty Ltd 2009