Stites & Associates, LLC (SALLC) is launching a consulting program for companies in need. This program is designed to help businesses (especially small businesses) adapt to today’s severe economic challenges. Many sectors of our economy are in sorry shape from a variety of causes. SALLC is making available consulting resources at deeply discounted rates for select companies within distressed indusries. SALLC can provide a wide variety of business management skills, techniques and, in some cases, financing, for a limited number of companies.
These companies need to fit a rather narrow set of criteria including:
- An essentially sound business value proposition
- Realistic view of the challenges
- Involvement of the Owners
- A willingness to change
- Identifiable “missing pieces”
- A willingness to share rewards in a “turnaround”
Over the years SALLC has identified a number of recurring business weaknesses that can be overcome if Owners have sufficient desire to do so. Often Owners are not fully aware of what is missing and need help not only identifying the missing piece(s), but also in implementing solutions. It is this latter point that is the failing of most consulting firms. They often can identify the problem area(s) but lack the resources to provide what is needed. Too often they resell a “cookie cutter” solution that doesn’t actually deal with the real problem(s). Among the recurring missing pieces are:
- Inappropriate or missing marketing and sales
- Outdated operational management tools
- Poor cost realization and control
- Inappropriate pricing structure
- Poor quality management
- Weak customer service
- Improper financing
- Weak financial controls
- Poor strategic planning
Often we find that the Owners and Executives have certain strengths that help them grow their business in good times, but have fatal weaknesses that only become apparent in tough times. An example might be a local window treatment shop that booms when local construction is booming, but stagnates when the housing boom flags or moves 15 miles further out of town. The owner might have great skills in satisfying local buyers, but without the skills to reach and close more remote sales. Another example might be a medium sized metal fabrication shop that does great business with structural steel while the commercial real estate market is booming, but cannot respond effectively to specialty metal opportunities.
When the “big boys” run into tough challenges, they generally just throw the operation overboard. They might shut down, layoff, outsource or in some other way ditch their problems. They just turn their interests to other segments of their multi-national, multi-faceted conglomerate. We could argue the long-term wisdom of such an approach (and even the politics of encouraging this approach), but for medium and small businesses, this is rarely an option. They must work through the issues and either change or die.
SALLC has a wide variety of talents and resources that can help medium and small businesses make the necessary changes. The founder, Ron Stites, has a scientific degree and an MBA in Finance and Accounting. He has started-up, rebuild and managed a wide variety of businesses ranging from machine shops to laboratories to oil and gas companies. He has managed technical operations, industrial operations and sales and marketing functions. Furthermore, he really does have a wide variety of associates that he can tap for assistance in international work, patenting, statistical quality control, crowd funding, computer software and database applications, social media marketing, financing, human resource management, regulatory compliance, health and safety management and a host of other areas that may not be the “wheel house” of existing Owners and Executives.
It is sad to see so many good companies today struggling and on the brink of financial disaster. The mix of tight credit, foreign dumping, changing regulations, changing worker skills and expectations, changing customer/client relationship management techniques, exploding business risk and many other changes in the business landscape has put many medium and small businesses in a very precarious position.
In order to help especially medium and small businesses, SALLC is today announcing a new Distressed Industry Program (DIP). The idea is to help companies to react to these many challenges and make this a “dip” and not a “crash.” SALLC will be offering a limited number of businesses deeply discounted consulting rates in an effort to help Owners not only “weather the storm,” but also to immerge from current challenges a better, healthier business.
In subsequent blogs we will be expanding on the details of this program. Nevertheless, if your business is challenged by the many forces at work and you think you meet the criteria listed above, please contact SALLC for an initial free consultation. You can do this by emailing Ron Stites at [email protected] or by visiting our website at http://www.tek-dev.net/DIP.html.
Stites & Associates, LLC, is a group of technical professionals who work with clients to improve laboratory performance and evaluate and improve technology by applying good management judgment based on objective evidence and sound scientific thinking. For more information see: www.tek-dev.net.
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