The decision to restructure your business is not an easy one to make. The “wait and see” approach seems dangerous if you’re already facing financial pressures, but you also want to ensure you’re making the right choice for the business at the right time.
Here are the 5 signs that can indicate it’s time for a business to restructure:
1. Your sales are continually growing but there is never enough cash in the business
2. Senior staff turnover is high and good people are quitting
3. The business is continually missing targets or budgets
4. Financial information is complex, unclear and delayed for management to make decisions
5. Ignoring negative customer feedback and falling repeat orders.