Five Stages of Decline
Every business is at some time likely to face some form of difficulty. The key is to catch things early to ensure recovery. Inertia is the big killer. There are a number of models for decline and recovery. Most agree that there will be a period of underperformance. When the strategy for turnaround is implemented, the businesses cash availability will ultimately determine the success.
Jim Collin’s research uncovered five stages of decline.
Feel free to request the templates firstname.lastname@example.org. I am happy to share.
1. Recognise your position on the five stages of decline … knowledge is power
2. Plan in an MOT on a regular basis to ensure you don’t miss the warning signs
3. Use the decision-making process to structure your strategic planning meetings
Please do share your experiences with these models in the comments below. I am building a portfolio of small business case studies and would love to include examples of what has worked well for you.
PS – If you need further help then give me a call on 07962 626604 to arrange a Skype session with me.