Where Would I Suggest You Reshape to Grow?

Every now and then business needs to reflect. Understand the areas of new growth,  decline and which are still steady state cash cows.

So that's the income side , now the cost balance. You'll have resources which are shrinking in returns if they're in declining areas.These resources are people, systems,  process and suppliers.

Best thing is to repurpose into growth areas and if you don't already,  merge technology into a company wide enterprise structure. That means you can flex up and down with business dynamics.

But doing this takes insight, which means having the data to hand and trending it. Don't take action until you're confident in the patterns.

Even then do in a phased way. If you're stepping elements down you want a parallel stepping up into growth activity.

Ensure the offset and reuse sunk investment wherever possible. If you can grow using sunk costs it's straight to the bottom line.

Therefore refresh but don't think it always means new. As you progress your suppliers may have to be changed out or adapted. They won't just do this do you must understand where you sit contractually. If changing out there could be termination charges.

If changing with the same suppliers,  that's opportunity for a better contract if over a renewed contract term.

And in all it's reshaping,   not a wholesale change of business.