Taking a professional risk such as trying to repair the reputation of a once proud brand shows that you have the faith and belief in yourself to bring this brand back up to prominence. Either that, or you just love taking risks. Only you know the reason. One thing we all can agree on is the task will be the hardest thing you have ever done in your professional career.
But before you decided to pursue this venture, you weighed the pros and cons and went over every detail carefully and made sure you knew all the potential pitfalls. Taking all that into account, you still decided to move ahead. As you dig deeper, you find that many of the problems this company had are fundamental problems. These are little things that would be found out of place if someone took the time to look.
I always tend to look at the positives of having to start over from the beginning. Some look at it differently and feel it is a waste of time and money. But, think about it for a second. If you had the chance to implement a few new things or change some stuff around, resulting in more exposure and profit, I am sure you would do it. When your company is in full motion, you can't stop to change or insert some new plan. You must continue to operate. By no means am I saying to tank your company to implement some new changes. I'm just pointing out a positive that comes from what most people see as a negative.
As you move along and get deeper in the repair process, the next steps vary on how far you have brought the company. You might begin to sample some things to the public just to get a reaction, but most importantly, you want to see if people want to still associate and do business with this new company. If the reviews come back positive, you can now start full fledged operations. It may seem a bit hasty, but in business, time waits for no one. If you have created a buzz, you must capitalize on it.
On the flip side, if the results come back poor or 50/50, you have two options. You can continue to try and repair this company, or you take the loss and decide it is not worth it. If you decide to quit, your reputation will take a hit and this might affect your future business dealings. Like I said earlier, you can always take a positive from a negative. What you might not have accomplished, someone else might be successful at it. You have shined the light on a once dark business and set the wheels in motion for it to operate again.
Taking risks are apart of the game. Some are successful and others are not. But, what may be your failed risk might be someone else's success story.