Digital disruption: put your business on pause
Jack and Jill have run their company for fifteen years and by and large they have been successful. It’s a tech business with some large, international clients and some smaller ones closer to home.
However, over the last two years they have seen:
- outsourcing of work to India
- pressure on prices from all clients and prospects
- greater demands from clients
All of which have eroded margins and reduced sales.
And taken away much of the enjoyment of running the company.
In the last year they have closed their office, said goodbye to their staff (amicably) and retrenched to just the two of them working from home. But even then they’ve decided that the work they are doing is neither profitable enough nor enjoyable so they’ve put their business on PAUSE!
They’re not seeking new clients and when the contracts currently underway have come to an end their business will stop.
For a while.
Unburdened by work they don’t really want to do at prices they can’t make a living from, Jack and Jill can regroup, think again and they will come back at some stage with some different business ideas that they can both enjoy and make a decent return on.
In the meantime, their quality of life has improved, the business is not all-consuming and they’re in a better frame of mind to figure out what the future holds and how to embrace it.
Good for them!