Isabella is a 6-year-old girl with severe developmental disabilities that require special medical equipment and attention. Sadly, these needs surpass her family’s financial reach. Helping children like Isabella betters the community, and also benefits your business in several ways.Read More
Rock Around the Block - The Blog of Rock LaManna
Remember way back, when you built your printing business? I guarantee you were a much different person back then. A person who, if faced with the challenges you face today, probably would step up the plate. You’re still that person, but you must follow these six tips in order to prove it and turn around your printing business.
Business is the dumps. You’re sulking, you’re sad, you’re in desperate need of solutions. Unfortunately, there will be no magic wand waving to pull you out of the muck that “old-school” printing business models are mired in. Instead, you need to focus on turnaround business strategies to get you back in the game.
You want a turnaround strategy to help your slumping business? Here’s one that will definitely get you headed in the right direction: Think like a Chinese entrepreneur.
When a printing owner has got his back against the wall, it’s hard to pinpoint what to do to avoid company liquidation. It seems like so many things are going wrong that it’s hard to zero in on exactly what you need to do to right the ship.
You want to sell your printing business. From what you’ve heard the first thing you need to do is get a business valuation. This may be true, but before you focus all your efforts on the business valuation, let me tell you a little secret:
Back in the 1990's, I owned a converting company that served the printing industry business in St. Paul. Things back then were eerily reminiscent of the way they are today for many printers: Business was slumping. Mine in particular.
Have you noticed how tough a game the printing business can be? It’s brutally competitive, cut-throat, and there are always younger guys waiting to push you out of the way. Drew Brees, the quarterback for the New Orleans Saints, can relate in a way that may surprise printers looking for a turnaround.
In the early 1980s, 3M made a bold strategic adjustment to how it approached its printing. It decided to either spin-off or break ties with a number of companies in the Minnesota area. Many companies didn’t survive the move; others flourished. In today’s economy, their resilience offers valuable lessons.
My client’s back was up against the wall. His sales were slumping, his profit margins were bad, and the competition was eating him for lunch. He was creating turnaround strategies, and he called me for help.Read More