Sometimes you need to tear it down and rebuild it.
Whether you do it yourself or take it in there are times when you just need to rip it apart and piece it back together.
Most guys comprehend why this makes sense. But most guys don’t understand the need to rebuild their business in the same way they understand rebuilding their engine.
But when you think about, the same reasons you tear apart your engine, clean out all the parts, replace those that are worn and grease it up are the same logical reasons you should do this to your business as well.
Some folks say if it works don’t mess with it but too often this mentality leads to ignoring necessary maintenance that can come back to haunt you in a bad way.
What periodic maintenance do you put your business through?
Does your business ‘work’ so you just let it be and keep pounding out the miles?
If you opened your business up what would your financial oil look and smell like?
A few years ago we pulled our business apart and decided to rebuild it. Things were actually going pretty well but we also felt that our business model could be improved.
We were glad we did. Our oil was starting to smell burnt and we found some debris in our crankcase that would have put the hurt on us down the road. After some heated conversations we landed on a plan that included lots of little tweaks and a couple of major overhauls.
The most significant of those was to diversify our factoring company away from our primary funding source and move to a factoring broker model.
This new model gave us the opportunity to better serve our clients by offering our different packages that best suited their needs. We could now get to know each of them on a deeper level and find out what their business really needed.
That change sidelined our company for a while as we had our own financial engine rebuilt. But like most rebuilds we emerged stronger and better positioned for what was in front of us.
The moral of the story is that you need to occasionally strip it down and look at the parts you don’t normally see in day to day operations.
“There’s nothing in the streets.”
“Looks any different to me.”
“And the slogans are replaced by-the-bye.”
“Meet the new boss. Same as the old boss.”
Wont Get Fooled Again – The Who – 1971