COMPLEX AND EVER-CHANGING

May 08, 2021

PART THREE: Complex and Ever-Changing

by: Jeffrey Frankhouser

PROBLEM: Your business has become a complex and everchanging operation. Your business started life as a great idea and now has morphed into something much different. How can you rein in this monster you’ve created?

SOLUTION: Your business didn’t off as a complex operation. If it’s a successful operation, it has probably morphed into one. You may also realize that, over the years, you have made subtle adjustments to your marketing efforts, operational systems and even the products and services you offer.

If you’re a restaurant, look at the many new menu choices customers are now looking for. If you’re a retail store, look at changing clothing styles that have changed and other products that aren’t even in existence anymore. If you are a consultancy, look at how many more services you now have to offer to satisfy your customer’s needs.

Tax laws are constantly changing so you need a strong accounting firm to guide you. Business legalities are also constantly changing so you need the good counsel of an attorney. Your business plan should also be monitored as new strategies are ever evolving so you need the guidance and mentoring of a proactive business consultant quarterbacking your team.

These complexities and changing customer needs are not new but businesses need to be proactive rather reactive to stay ahead of the curve.

Covenant Business Planning & Solutions is here for you and your business.

Next Covenant News Journal: Uncertainty

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