5 Steps to Turning Around a Failing Business

Nobody said running a business is an easy thing. One minute you can be on top of the world; the next, you don’t know when your bad luck will end. If your business appears to be heading in the wrong direction, then failing to act isn’t going to see the turnaround that you desire.


Instead, you’ve got to be proactive, identifying problems and logically fixing them. Sometimes, it’s only a few small changes that can make a big difference; other times, it might take a complete overhaul, but if you approach this challenge correctly, you will give yourself the best opportunity to come through it.

Define the Problems

A good way to start fixing the problems that are afflicting your business is by using the Six Sigma DMAIC framework to assess your issues. Through this process, you address your problems in five steps:

  • Define
  • Measure
  • Analyze
  • Improve
  • Control

You can’t just start by trying to implement solutions to your problems. You’ve first got to pinpoint what the problems are before you can fix them. If you follow the DMAIC pathway, you have a logical solution to addressing your business problems.

Get Everyone on Board

Once you’ve defined the problem, you need to make sure that everyone in your business is on board and willing to make changes to fix these problems. If you’re confident in the work you’ve done during your DMAIC process, then you will know the direction you want to go with your business.

At this point, you don’t need people pulling in the other direction. Once you’ve committed to a plan, you need people who will bring that plan to fruition. Get the people you need on board and find the new people necessary to make the required changes.


In many cases, getting that perfect team together and equipping them with what they need to turn things around will take investment. This means investing in the right staff but also investing in their training and the resources that are available to them.

When you look after your team, they will look after you, but you’ve got to make that initial investment.

Rethink the Company’s Mission

Companies often start to struggle when they get away from what it is they do well. If you can refine the company’s mission – what it is and why it is there-ensure that it gets back to what makes it successful.

Make sure it’s clear to everyone what your company is about and how it can help them.

Follow the Plan

Once you’ve figured out where your problems are coming from and the solutions you need to implement to fix them, you need to be disciplined and make sure you follow through on your plans.

If you keep turning back on your plans, then you’re going to end up with no direction at all, and you’re going to find it difficult to turn the situation around.

About author

I work for WideInfo and I love writing on my blog every day with huge new information to help my readers. Fashion is my hobby and eating food is my life. Social Media is my blood to connect my family and friends.
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