Forbes Expert Panel: Falling Profits
Updated: Jun 29
When a company’s profits quickly begin to fall, it is a cause for concern that should prompt immediate action to determine what the problem might be. There can be numerous reasons behind such a decline—from external factors, such as an economic downturn, to internal issues, such as mismanagement of resources—and it is crucial to identify the primary contributing factors so that they can be addressed.
While it can be a nerve-wracking experience for company owners and leaders, uncovering the root cause when business profits suddenly plummet is an essential first step in devising an effective strategy to recover. Below, 17 Forbes Coaches Council members share the suggestions they would offer to their clients if they were facing a drop in profits to help them course-correct:
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