hi I’m Evan Carmichael welcome to
another edition of ask Evan in today’s
episode I’m going to answer questions
from one of my newsletter readers Tony
who runs a construction company and he
found as he was starting up he went a
successful company wanted to offer more
services so he partnered up and acquired
a whole bunch of other businesses to be
a one-stop shop but now it’s finding
that it’s falling apart and people
aren’t paying their bills on time and is
losing money and wanted some advice on
how to you know fix the situation and
get back on track so Tony thanks to the
question really sorry to hear about your
situation it can be common for a lot of
entrepreneurs to try to grow too quickly
or grow in too many areas and then be
faced with with the cash crunch I think
most one of the most important rules and
businesses you want to build around your
customer it sounds like you were trying
to do that and you had your construction
company wanted to bring on partners and
bring on other businesses to provide
more value to your customers but I would
rethink all of the different services
that you have and see if you know maybe
some of them are not revenue producing
or they’re not really adding a lot of
value to your customers especially for
your cash crunch situation I look at
your top customers see what value
they’re getting from you and you know
which services that you’re offering that
you may have to cut loose and those are
tough decisions because that’s you know
money loss and and employee jobs
potentially as well but you want to make
sure that you’re able to continue on as
a business and I try to build it again
go back to that mindset of building
around your customers and focus on only
the services that are really added a lot
of value to your major clients so look
at every business that you brought on
and see do we really need to have all of
these businesses still as part of what
we do and can we trim the area’s you cut
them out that are not really adding a
lot of value to the business to remember
that too to make money you have to
provide a lot of value and the more
value make more value provide them are
you going to make all right so talk to
your top clients see maybe if there’s
still things that you’re not doing that
you could do to help solve some of their
problems and that could be another path
of additional revenue coming into your
business
get your company up to the next level
and also provide you know more value to
your clients they’re going to like you
more they’re going to give you bigger
deals they’re going to stay with you for
longer they can refer more business to
you so you want to tie your business
around your customers really focus on
their needs their pains and cut
everything else in the business so you
can get back to profitability hopefully
that helps if you guys liked the video
please give it a thumbs up below if you
have some thoughts or vehicle question
as well I’d love to hear if you want to
leave a comment under the video and stay
tuned for next episode
you
another edition of ask Evan in today’s
episode I’m going to answer questions
from one of my newsletter readers Tony
who runs a construction company and he
found as he was starting up he went a
successful company wanted to offer more
services so he partnered up and acquired
a whole bunch of other businesses to be
a one-stop shop but now it’s finding
that it’s falling apart and people
aren’t paying their bills on time and is
losing money and wanted some advice on
how to you know fix the situation and
get back on track so Tony thanks to the
question really sorry to hear about your
situation it can be common for a lot of
entrepreneurs to try to grow too quickly
or grow in too many areas and then be
faced with with the cash crunch I think
most one of the most important rules and
businesses you want to build around your
customer it sounds like you were trying
to do that and you had your construction
company wanted to bring on partners and
bring on other businesses to provide
more value to your customers but I would
rethink all of the different services
that you have and see if you know maybe
some of them are not revenue producing
or they’re not really adding a lot of
value to your customers especially for
your cash crunch situation I look at
your top customers see what value
they’re getting from you and you know
which services that you’re offering that
you may have to cut loose and those are
tough decisions because that’s you know
money loss and and employee jobs
potentially as well but you want to make
sure that you’re able to continue on as
a business and I try to build it again
go back to that mindset of building
around your customers and focus on only
the services that are really added a lot
of value to your major clients so look
at every business that you brought on
and see do we really need to have all of
these businesses still as part of what
we do and can we trim the area’s you cut
them out that are not really adding a
lot of value to the business to remember
that too to make money you have to
provide a lot of value and the more
value make more value provide them are
you going to make all right so talk to
your top clients see maybe if there’s
still things that you’re not doing that
you could do to help solve some of their
problems and that could be another path
of additional revenue coming into your
business
get your company up to the next level
and also provide you know more value to
your clients they’re going to like you
more they’re going to give you bigger
deals they’re going to stay with you for
longer they can refer more business to
you so you want to tie your business
around your customers really focus on
their needs their pains and cut
everything else in the business so you
can get back to profitability hopefully
that helps if you guys liked the video
please give it a thumbs up below if you
have some thoughts or vehicle question
as well I’d love to hear if you want to
leave a comment under the video and stay
tuned for next episode
you
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