The gradual decline in business had snuck up on Matt. He had started his machine shop fifteen years ago and quickly grew the business to where it is today employing five machinists, two mechanics, and three office staff. Most of his business involves repairing or refurbishing worn/broken heavy equipment parts, business has been steady, clients have been loyal and consistent, and he’s enjoyed the manageable size of his business.
Due to the extended period of low interest rates however, he has been noticing his clients increasingly buying new equipment rather than repairing the old. And he realizes now that he hasn’t kept his own machining equipment up-to-date with the latest technology in order to compete with the newer high-precision machines that many of the competitors have. Declining sales will mean dropping two employees if he isn’t able to turn things around in the near term. The market has gradually and subtly changed right under his nose, and now he needs to take action.
Matt’s Solution: The ‘Success Dashboard Execution Platform©; an online strategy and business execution platform designed to help businesses prioritize and create disciplined action to kick-start and revitalize the business.