If your business seems to have a number of issues, lacks efficiency or is not producing, it might be time to restructure. There are challenges to restructuring, and the largest of those challenges is knowing what you need to change. Getting a different perspective can be extremely important.
Get A Different Perspective
It is important that you get different perspectives before you start your restructuring. You are too close to some of the issues because you are running your business. Getting a different perspective than your own can be essential.
The Employee Perspective
Talk to selected employees to get an idea of what people find frustrating about the business and what works well.
An Industry Colleague
Get is the outside perspective of someone else in your industry. These colleagues truly understand the issues that may impact your business and how they would manage.
Finally, bring in a coach or consultant to analyze your company. They may bring ideas to the table that you would not have considered previously. Consultants are trained to look at how businesses can grow regardless of what industry they are in. These experts will bring a neutral perspective and can often highlight problems that you didn’t even realize were an issue.
While you can restructure without any outside perspective, by getting this additional perspective you are better able to think openly about how to best change your business. Restructuring can be both time-consuming and expensive—make sure it is effective.
To read my full article on this topic, please see: Take a Different Perspective to Make Restructuring Your Business Easier.
As Co-Founder of Inflection 360, Michael Roub advises clients on a wide range of strategic initiatives, including operations enhancement, acquisitions and business planning. Michael has a particular expertise working with healthcare practices and small businesses.
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