How a Business Turnaround Happens

Business TurnaroundPerhaps the only thing constant in business today is change. As a famous inventor reminds us – “when you’re finished changing, you’re finished.” Ironically this prophetic statement comes from Ben Franklin, not someone in need of a business turnaround today.

Change has impacted the printing industry dramatically. Yet Corporate Document Solutions has grown its business despite the hurricane going on around it. Listen to what Mary Percy, the company’s president says about the business turnaround it made. She offers some recommendations to others who face similar issues in their industries.

WHAT YOU’LL LEARN FROM MARY PERCY, PRESIDENT OF CORPORATE DOCUMENT SOLUTIONS.

IS IT TRUE THAT YOUR CUSTOMERS ARE LOOKING FOR YOU TO FULFILL THEIR NEEDS DIFFERENTLY?  (5:06 in)

In Mary’s words –   They need a very efficient way to process orders. They have to have storefronts where multiple employees can go online and order.

Tip – Examine your customer’s needs from their perspective. Seek to make it easier and better to do business with you.

HAS YOUR VISION OF THE BUSINESS CHANGED?  (7:06 in)

In Mary’s words –   We’ve clarified our mission over the years as our strengths have been revealed through experience.

Tip – Achieve clarity by understanding what the customer wants and what you can deliver.

HOW HAS CLARITY OF VISION AFFECTED THE WAY YOU OPERATE?  (7:44 in)

In Mary’s words –   We’ve invested in system management software.

Tip – Evaluate whether updated technology can improve productivity and increase profitability.

HOW HAVE THESE CHANGES AFFECTED THE WAY YOU SELL?  (10:08 in)

In Mary’s words –   We analyzed which industries were continuing to need print products for legal, technical, or logistical reasons and focused on selling to those markets.

Tip – Target sales where the opportunity exists. Accounts are won by reducing costs and improving processes.

WHAT HAVE BEEN SOME OF YOUR TOUGHEST CHALLENGES?  (14:57 in)

In Mary’s words –   We had to streamline efficiencies.

Tip – The quicker you can satisfy your customer’s needs, the stronger your relationship will be.

WHAT ADVICE DO YOU HAVE FOR OTHER BUSINESSES EXPERIENCING DRAMATIC CHANGE?  (16:30 in)

In Mary’s words –   Have a proactive mindset. Analyze trends and rates of consumption. Seek out new business opportunities in that business industry. Ask your customers what they want.

Tip – By examining objectively the totality of the business process from beginning to end, clarity is possible to move forward instead of backward.

 

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