3 Common Reasons Your Business Has Hit a Plateau
Any business ““ large or small ““ experiences seasons of growth and seasons of stagnation. Sometimes, businesses take a hit right after a period of booming sales. While reaching a plateau is highly frustrating, it’s not unusual. Fortunately, there are steps you can take as a business leader to overcome these roadblocks and drive the long-term success of your organization. Here’s a look at some common reasons why your business has hit a plateau ““ and what you can do about it:
You haven’t updated your business plan
Many leaders make the mistake of taking a ” set it and forget it” approach to their business plan. But as your business evolves over time, you should be adjusting your plan, too. If you haven’t revisited your business plan in a while ““ or if you never created one in the first place ““ now is the time to give it another look. Take a step back from the day-to-day activities of running the business and write down realistic goals, then update your strategy accordingly. A well-written (and up-to-date) business plan is a great tool to help ensure you and your team are on the same page.
Your business doesn’t stand out from its competitors
What sets your business apart from the competition? If you don’t know the answer to this question, chances are that consumers don’t know either. To stand out from the crowd, your business needs to be different and memorable. Maybe it’s a matter of offering an innovative new product or service or giving your current logo and website a refresh. Or, perhaps you can reach customers through a new channel by hosting an event or webinar. Look for ways that you can add value to your customers’ lives, and your business is bound to get noticed.
Your team is stretched to the limit
No manager wants their employees to be burned out, stressed, and overworked. But with fewer resources, many businesses struggle with growing pains, which often results in a plateau. One way to overcome staffing challenges is by outsourcing business services to a third-party logistics provider. Routine tasks such as product assembly, kitting, packaging, custom fulfillment, and warehousing can all be outsourced to help your team save valuable time and keep up with the growth in sales.
Looking for local outsourcing services? At Ohio Valley Goodwill, our Industrial Services Division helps businesses in Greater Cincinnati, Northern Kentucky, and Southeast Indiana manage growth while maximizing resources. Our contract labor solutions allow business leaders to simplify operations and lower overhead costs, resulting in improved productivity and efficiency.
With a large, diverse workforce, Goodwill Industrial Services provides assembly services and kitting services as well as packaging and fulfillment. Unlike some other outsourcing companies, Ohio Valley Goodwill operates without middlemen, because we aren’t a company at all! We are a local, non-profit organization, fueled by our social mission to provide meaningful employment to individuals with disabilities. Businesses which partner with Ohio Valley Goodwill become a part of our mission, contributing to the employment success and inclusion of individuals with disabilities in our community.
Contact our highly qualified team of B2B professionals to see what Ohio Valley Goodwill can do for your business today and receive a free tour of our facilities.
