I want to share a short, yet meaningful story with you. It’s a bit on the sad one at first, but don’t worry, it does have a happy ending.
This story is about what I like to call the "point of no return."
A few days ago, I received a call from an associate. We've known each other for over 15 years, and he runs a business with about 36 staff members.
While it wasn’t a client situation, he understood what I do, so he reached out. His message was clear: "Mike, we’re struggling. Things have been tough for six or seven months, and I really could use your help."
We had a quick chat about the pressures he was facing, but it wasn’t until we sat down for a coffee and discussed things more in-depth that the true gravity of the situation became clear.
After reviewing the numbers, it was clear that he was on the brink of what I call "the point of no return."
It’s an all-too-familiar scenario in business: you have recurring issues, constant discussions, and no real action.
My associate and his team had been dealing with underperforming staff and stagnant sales for months. He knew something needed to change but wasn’t quite sure what.
This happens often. It’s easy to get caught in a cycle of endless conversations, where the same issues are discussed over and over.
You know things aren’t improving, but you hope they will, or at least that they’ll somehow turn around on their own. The problem is, if you keep doing what you’ve been doing, you’re just going to keep getting the same results.
Zig Ziglar once said, "If you keep doing what you keep doing, you’re going to keep getting what you keep getting." In this case, my associate was about to hit that point of no return.
When we reviewed the finances and the situation, it became clear that he had just a few weeks left before the business hit its critical limit.
Time and financial resources were running out. They were looking at being completely out of time to restructure or refinance, which would have meant closing the doors.
But there was still hope.
The point of no return is when your resources and options are stretched too thin, and you no longer have the luxury of time to make the necessary changes. It’s when your financial runway is so short that even small missteps can have disastrous consequences.
Luckily, we managed to catch it just in time. With some strategic changes and creative thinking, we were able to get a temporary fix in place, renegotiate terms with suppliers, and secure the needed financing.
The business was given a lifeline, time to restructure, and a fresh strategy to move forward.
The moral here is simple: don’t wait until you hit that point of no return. If you’re in a business where problems are starting to feel like they might be insurmountable, it’s time to act—now.
If you’re having the same conversations over and over, it’s not just a sign that something needs to change, it’s a sign that action is overdue.
Look at your business from a detached perspective. How long do you have before your options run out?
Whether it's securing additional funding, hiring the right people, or simply restructuring, understand your timeline and plan accordingly. You need time to implement changes, and that takes proactive steps today—not in a few weeks or months.
Consulting vs. Coaching
If you're unsure about how to approach these issues, here’s something to consider: should you bring in a consultant or a coach?
A consultant is someone who will fill the skill gaps in your business, someone who has the expertise to come in and help you identify and maybe execute what needs to be done. A coach, on the other hand, works with you and your team to develop the necessary skills and mindset to address challenges on your own.
With our Navigator solutions, we take a hybrid approach, blending both NXD, consultancy and coaching. This allows us to guide businesses through the decision-making process while also teaching them the skills needed for long-term success.
Take the time today to reflect on your business's current state. Do you know when you're approaching that point of no return?
If not, it’s time to get clear on your financials, operations, and timelines. If you’re in a position where you can’t afford to wait, then you need to act now.
Don't put it off, bringing in external help might just be the thing that saves you from missing that window of opportunity.
To wrap up, the key takeaway is this: time is a precious resource, especially when it comes to business. If you’re having repeated discussions about the same problems, it’s time to take a different approach before you run out of time.
Whether you need a Non Executive Director (NXD), a consultant, a coach, or simply some honest advice, don’t let your business reach that point of no return before you act.
If you find yourself in this position or want to learn more about how to proactively address business challenges, don’t hesitate to reach out. I specialize in getting businesses back on track and ensuring they have the time and resources to thrive.
Always here to help you start, grow, and thrive. Let me know how I can support your next big move.