Want to Revamp Your Business? Here are 5 Steps to Achieve it
Deciding Right Time to Revamp
Analyzing the right time when the business must be ready to undergo transformation is a significant step while preparing for the business reinvention. According to certain business reinvention experts, initially, when a business is set up, the first three years would be spent in just understanding the basics and initiating the business. And the next three to four years would be the phase of growth. It is mostly after this phase of about seven to eight years after starting a business it gets stagnant, and the work would not be challenging anymore and would need some improvisation.
There could be several other reasons that could indicate that it's time to revamp such as changing market, economical changes, losing customer base, unexciting work & wanting more leisure time and so on. All these could be the warning that your business needs a quick renovation.