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Turn Around Your Failing Company

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No one likes to admit that they’ve failed. Whether still stuck in the denial phase or refusing to accept that it was their own fault, the staunch refusal to admit to failure is one of the follies of man. But like death and taxes, failure is inevitable in our lives. Ari Monkarsh is here to help you turn it around.

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Turn Around Your Failing Company

  1. 1. T U R N   A R O U N D Y O U R   F A I L I N G C O M P A N Y AriMonkarsh.com A M
  2. 2. F A I L U R E   No one likes to admit that they’ve failed.  Whether still stuck in the denial phase or refusing to accept that it was their own fault, the staunch refusal to admit to failure is one of the follies of man.  But like death and taxes, failure is inevitable in our lives.
  3. 3. R E C O G N I Z E   W H E N   I T ' S H A P P E N I N G   If sales and income are steadily dropping, don’t let that information fall by the wayside.  Are your employees complaining, bickering or generally exhibiting low morale?  Is your business remaining stagnant, content with falling into its place rather than growing and innovating?  As a business owner, CEO, executive or director, these are the exact signs that you should be constantly monitoring.
  4. 4. R E C O G N I Z E   W H E N   I T ' S H A P P E N I N G   A drop in sales is the most obvious and perhaps the most significant sign to watch for.  If your sales, client-base or investors are dropping out or expressing disinterest, it may be time to consider that your business might be failing. Recognition of a failing business is a significantly easier task than many make it out to be. This is due in part to negligence or outright denial, more often than not, which brings us to the second tip to turning around your failing enterprise.
  5. 5. A C C E P T   I T Stop telling yourself that revenue is dropping due to forces outside of your control.  Stop claiming layoffs won’t happen, and stop deluding . Jason Saltzman of Entrepreneur offers six tips on accepting failure:  Once you’ve recognized that you or your business is in trouble and accepted that it is indeed happening, it’s time to take action. accept the situation,  realize you’re not alone  screw it prepare for battle be realistic  learn lean
  6. 6. T U R N   I T   A R O U N D Once you’ve recognized that it’s happening, it’s time to identify the source of the problem.  Make a positive identification of the problem is imperative to turning around a failing business. Next, an owner or CEO needs to take the initiative in changing whatever has been deemed the cause of the issue or issues at hands.  Low employee morale is an indicator of a failing business, but helping turn around the morale of the company can be a huge step in turning around the success of the organization.
  7. 7. “In 25 years, I’ve never seen the executives of a company have the right idea of what the problem is. It’s like talking to a drug addict about his problems: He’ll blame everything but the drugs.” -Grant Cardone, the "Turnaround King"
  8. 8. Ari Monkarsh has a long history of success and professionalism in business.  For more business & entrepreneurship tips, visit his website at AriMonkarsh.com

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