Schon Condon and Richard Abela from Condon Associates Group – Business Leaders that help people on the edge and the inspiration to this article!
I have been very lucky to work with the team from Condon Associates Group and have known them for years. From their founder Schon Condon, to their Director of Turnaround Richard Abela and right too their Marketing Manager Lyn Dong (who doesn’t miss a beat with eyes like a hawk).
They are one integrity driven company that work with businesses literally on the edge. They will get people coming to them who need to go into Administration for Turnaround or Liquidation. As they are all about the preservation of value, they do their best to keep people in business.
This of course depends on when people come to them. If someone gets into trouble, of course the earlier the better. Even though I am a Marketer, quite often I get people coming to me on the edge.
Talking more entrepreneurs, they can be often people that have started their business and are suffering the fallout of bad advice. Tragically (I hear this story once a week), they have a ‘Business Coach’ who has cleaned out all their savings and left them with a stack of strategies that are sending them broke fast. I know some amazing characters that can mentor businesses (such as ex-CEO Richard from Condon) and it breaks my heart that good people get into bad situations.
If you are reading this and you are in a bad situation, please don’t feel ‘bad’ or anything like that. It happens to the best of us (me included) and from a Marketers viewpoint, I wanted to share with you top 7 key strategies / ideas I share to people in trouble:
1) Align for High Value Profitable Clients: Make sure you are chasing the ‘Right’ clients who you can pick up as soon as possible. If you have someone about to buy, keep working them and get them over the line!
2) Minimize ‘Cash-Cost’ Marketing Strategies: It’s time to reign in your expenses and get things happening.
3) Increase ‘Time-Cost’ Marketing Strategies: Business Networking, Direct Selling, Referral Networks, LinkedIn, Email Marketing are very low ‘Cash-Cost’ strategies that are very powerful. Great to focus on them until one builds enough revenue.
4) Increase Pricing & Fix Products & Packages: Make sure the products are setup correctly with proper pricing so you are making a great margin.
5) Calling in Favours from Referral Partners: If you are in trouble and need clients ASAP, for those who owe you favours it’s time to call them in. Asking for referrals is great.
6) Joint Ventures / Shared Projects: You can leverage of others databases and reputation in a fast win / win manner. This can include no-cash.
7) Sell Hard, Drive Revenue and Have Strong KPIs: Don’t watch ‘The Secret’ and hope for the best. Sell hard, come up with a strong list of weekly actions to guide you and go for it. Time is of the essence.
There are many more and these are the top points I often work through with clients on the edge. Like the awesome Condon Associates, if it isn’t ‘too late’ I love doing my best to help turn around businesses in trouble.
Even though things are rocking for me today, I only know what it’s like to be in trouble. It was once like that for me and how do you think I learned all this? 🙂
Thank you for the read, love your work, credit to Condon Associates & Stay Awesome!
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