Question on rank drop!

Hi folks!
One of my blogs has been ranking on the 2nd position before a week. Now the rank is continuously dropping. No it is at the 7th position.
I have been continuously building backlinks for it. I am yet to rework on the blog's content. Is there any other On-Page issues, I should focus on?
Let me know your suggestions!
Thanks in Advance!!!

Comparing the quality of your backlinks with your competitors and reworking the content is a good idea.
Never rework on the content which is already ranking well.
I might need to see your page to help you better.

Seems these days everyone is facing this issue of rank drop ... I believe because of recent Google update this is happening ... Will come to normal in some time ...

An important factor to consider is whether it’s a new post i.e. published within the last 30 days (or some might also consider 60 days). New articles tend to go through a ‘Google Dance’ where the algorithm will randomly move your article up and down till it finally sits in its place.

So I would advise to wait for at least 2 months before any reworking (in case its a new post)

You can create better internal linking structure and enhance the content.