Diversifying a declining business

[Rocketship]

Good evening fellow PH'ers

Some advice needed. I'm looking to take a declining family business and give it longevity. It currently has under-utilised resources in terms of skilled staff, a fleet of vehicles and office/warehouse premises. Perhaps just an outside perspective on the strengths of the firm as it stands and some suggestions for sectors to diversify into is what is needed.

Any suggestions on what kind of a consultant could offer this would be welcomed.

Cheers all

[Wacky Racer]

Not enough detail in your OP to offer any worthwhile advice.

Why is it declining and how long has it been doing so?

What is the business sector?

What is it's USP over it's competitors (If it has one)

Does it have a GOOD internet presence?

[Simpo Two]

Is it a question of a good product badly marketed, or a product that's a dead donkey?

[uber]

Are you a member of this family business or are you looking to take over something which is for sale?

If its a family business the first thing you will need to fix is the politics which is enough to pull the entire thing down. How many people is this business supporting and what happens if you switch off the money tap they are used to reciving because they were born into it and have a sense of entitlement. If this is not sorted first and unless a leader is chosen you will have nothing but grief and quickly stop being invited over for Christmas dinner!

whats trhe product?

[Rocketship]

Sorry I wasn't clearer. It's difficult to go into much detail due to sensitivity and I appreciate this makes it difficult to comment on. All I'm trying to identify is what type of consultant would offer this service?

[uber]

Rocketship said:

Sorry I wasn't clearer. It's difficult to go into much detail due to sensitivity and I appreciate this makes it difficult to comment on. All I'm trying to identify is what type of consultant would offer this service?

Try and find someone who has been in the industry who may have had an exit. Ask the local enterprise agency etc to suggest someone. As mentioned before the WHOLE family needs to be in agreement and ready for what is going to happen i.e the consultant tells the boss to sack the brothers son as hes no use and WWIII errupts!

[andyb28]

Can you perhaps share some information on the skill sets of the staff and equipment you have?

It seems a shame that there are probably many forum members on here that could give you advice, but by withholding any information to go on, it wont render any useful replies.

[KevinCamaroSS]

You could at least tell us the business sector? If not don't expect much help, nothing to go on.

[insurance_jon]

sous like you need a change management consultant.

my pals one if you need his details

[Monkeylegend]

Sounds like you need a business consultant who specialise in turning round floundering business, somebody like Gerry Robinson or Sir John Harvey Jones.

Might cost you a bit though.

[foliedouce]

I'd be happy to have an initial chat with you, I'm not a 'consultant' per se but work alongside owner / managers of businesses from start up to 50m t/o to help them with strategy and operating models.

I have a track record in actually growing businesses rather than just 'consulting' on them

I'm currently working with 5 businesses at varying levels of commitment and would have time for 1 more.

PM me if interested.

[uber]

Monkeylegend said:

Sounds like you need a business consultant who specialise in turning round floundering business, somebody like Gerry Robinson or Sir John Harvey Jones.

Might cost you a bit though.

Gerry is one cool cucumber I met him a few years back a few times when they wanted me to do a TV show with him. His 100% the sort of guy you want onboard but it would have to run into the millions to get him personally involved.

[Carsie]

Happy to support- you've got mail

Best

Carsie